CFTC calculates 14 trading platforms that offer crypto -related investments - regulation
CFTC calculates 14 trading platforms that offer crypto -related investments - regulation
The Commodity Futures Trading Commission (CFTC) has accused 14 trading platforms that claim to offer crypto -related investments, but either have not registered with the CFTC or have incorrectly claimed to be registered. These websites also show other signs of fraud.
14 companies loaded by the CFTC
After charging a large cryptocurrency exchange Krake Futures Trading Commission (CFTC) now pursues trading platforms that claim to offer crypto -related investments.
The CFTC announced on Wednesday that “charges against 14 companies because they either did not register as a futures commission merchant (FCMS) or make false and misleading claims that they have a CFT registration and membership in the National Futures Association (NFA).
Most of the 14 trading platforms show signs of fraud, such as: B. the use of identical websites, the request to the users to pay for accession to the platforms before they can start trading, claim to be regulated and guarantee huge returns. This message is shown on some of the 14 websites, for example: "Earn an enormous return on investment. With our professional team of dealers, your profit is guaranteed."
The derivative watchdog in detail:
Twelve of the complaints claim that companies act as FCMs by offering the public the opportunity to buy binary options based on the value of raw materials such as foreign currencies and cryptocurrencies including Bitcoin.
These platforms "encourage customers to transfer money or assets to them", but none of them registered as a FCM, said the supervisory authority.
Among the 12 platforms have trading forum, bitfxprofit, globalnationfx, binancefxtrade, maxforexoption and Excotrade stops almost identical websites. Three other - cryptofxtrader, smart signals and Prime Expert Trade - look almost identical. The ProCryptominer's website is now offline. Two other platforms are Profx-Capitals and Star FX Pro.
In addition to the 12 platforms, the CFTC states that Climax Capital FX and Digitalexchange24.com "offer services related to the trade with futures or other derivative products and wrongly claim to be registered with CFTC and to be a member of the NFA".
The websites of the two platforms also look very similar and indicate that "they offer their customers a variety of services related to the trade in foreign exchange and cryptocurrencies such as Bitcoin, which are raw materials in the intergovernmental trade"
The CFTC stated: "Every complaint for orders that the companies instruct to refrain violations of Commodity Exchange Act and the CFTC regulations as accused."
The incumbent director of the Department of Implementation, Vincent McGonagle, commented:
Today's measures reflect the committed efforts of the CFTC to aggressively eradicate malicious actors who wrongly claim to have legitimate registrations and to protect the trade public.
What do you think that the CFTC follows these trading platforms? Let us know in the comment area below.
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