US CFTC Announces Departure of Clearing and Risk Director Clark Hutchison

by Theresa Joy Lacatan | Jan 16, 2025 | Blog News, Crypto News

On 13 January 2025, the United States Commodity Futures Trading Commission (US CFTC) announced the departure of Clark Hutchison, Director of the Division of Clearing and Risk, effective 15 January 2025. Hutchison has led the division since July 2019. Clark Hutchison...

ASIC Seeks Feedback on Extending Relief for Business Introduction Services

by Theresa Joy Lacatan | Jan 16, 2025 | Blog News, Crypto News

On 13 January 2025, the Australian Securities and Investments Commission (ASIC) announced that it is consulting on the future of the ASIC Corporations (Business Introduction Services) Instrument 2022/805 (the Instrument). The Instrument, which provides conditional...

Gemini Trust Fined $5 Million for Misleading the US CFTC on Bitcoin Futures Product

by Theresa Joy Lacatan | Jan 14, 2025 | Blog News, Crypto News

On 13 January 2025, the United States Commodity Futures Trading Commission (US CFTC) announced that Gemini Trust Company LLC, a New York-based trust company, has been ordered by the US District Court for the Southern District of New York to pay a $5 million civil...

Mosaic Exchange Ltd. and CEO Ordered by US CFTC to Pay Over $1.1 Million for Cryptocurrency Fraud Scheme

by Theresa Joy Lacatan | Jan 14, 2025 | Blog News, Crypto News

On 13 January 2025, the United States Commodity Futures Trading Commission (US CFTC) announced that Mosaic Exchange Ltd. and its CEO, Sean Michael, have been ordered by the US District Court for the Southern District of Florida (case 9:23-cv-8130-AMC) to pay over $1.1...

US SEC Fines Robinhood Broker-Dealers $45 Million for Regulatory Violations

by Theresa Joy Lacatan | Jan 14, 2025 | Blog News, Crypto News

On 13 January 2025, the United States Securities and Exchange Commission (US SEC) published order instituting administrative and cease-and-desist proceedings, pursuant to sections 15(b) and 21c of the United States Securities Exchange Act of 1934, making findings, and...

UK FCA Fines Arian Financial LLP £288,962.53 for Failures Linked to Cum-Ex Trading

by Theresa Joy Lacatan | Jan 13, 2025 | Blog News, Crypto News

On 10 January 2025, the United Kingdom Financial Conduct Authority (UK FCA) announced that it had fined Arian Financial LLP £288,962.53 for failings in its systems and controls against financial crime. The UK FCA found that Arian’s shortcomings exposed the firm...