ChainCatcher news, according to CoinDesk, Ian McGinley, the Enforcement Director of the Commodity Futures Trading Commission (CFTC), announced he will resign on January 17. He joined the agency in February 2023 and led enforcement actions against companies such as Binance, KuCoin, and Falcon Labs. In a statement announcing his resignation on January 17, Ian McGinley stated that "making the CFTC the primary enforcement agency for digital assets" was a top priority during his tenure.Reports indicate that Trump's transition team has set its sights on a long list of potential CFTC leaders, but has not acted as swiftly as it did during appointments at the Securities and Exchange Commission. However, if cryptocurrency legislation progresses in 2025, the CFTC may replace the SEC as the dominant regulator of the U.S. digital asset market.

ChainCatcher news, according to CoinDesk, sources revealed that the Commodity Futures Trading Commission (CFTC) is collecting customer data from the crypto prediction market Polymarket and has issued a subpoena to Coinbase. The CFTC is requesting Coinbase to provide information related to its interactions with Polymarket, and Coinbase has informed its customers that it may have to share this data. "When we receive government information requests, each request is carefully reviewed by a trained team of experts according to established procedures to determine whether it complies with legal requirements."

ChainCatcher news, according to Bloomberg, the cryptocurrency exchange Gemini Trust Co., founded by the Winklevoss twins, has agreed to pay $5 million to settle a lawsuit filed by the Commodity Futures Trading Commission (CFTC). The lawsuit claimed that Gemini misled derivatives regulators when attempting to launch the first U.S.-regulated Bitcoin futures contract. On Monday, documents signed by both parties disclosed this settlement agreement, thus avoiding a trial scheduled to begin on January 21 (the day after Trump's second inauguration as President of the United States). Gemini neither admitted nor denied liability in this case.In 2022, the CFTC sued Gemini in Manhattan federal court, accusing the exchange of making false and misleading statements about how to prevent Bitcoin price manipulation. On Monday, U.S. District Judge Alvin Hellerstein approved the settlement agreement. Last November, Judge Hellerstein denied Gemini's request, ruling that a jury must determine whether 32 statements made by Gemini executives to regulators were misleading.Gemini still faces a lawsuit filed by the Securities and Exchange Commission (SEC), which accuses the exchange and cryptocurrency lending company Genesis Global Capital of illegally raising billions of dollars in crypto assets from investors through the so-called Gemini Earn program. In February of this year, Gemini agreed to return at least $1.1 billion to customers as part of another settlement reached with New York regulators.

ChainCatcher news, according to Cointelegraph, former U.S. Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo stated: "The design of Bitcoin has already determined its scarcity. You can never own more than a certain amount of Bitcoin. Bitcoin is rapidly appreciating."

ChainCatcher news, 10xResearch posted on social media that, contrary to popular belief, it believes that the price of Bitcoin is driven by demand rather than changes in the supply of BTC itself (mining).Each cycle of Bitcoin's five bull markets has been driven by innovations in how investors acquire it, from the creation of early spot trading platforms to the use of contracts, unsecured loans, spot Bitcoin ETFs, and now options on these ETFs.This development highlights the increasing integration of Bitcoin with traditional financial markets, and the regulatory approvals from U.S. agencies such as the CFTC and SEC have accelerated this trend, as these agencies have legalized Bitcoin-related financial products over time.

ChainCatcher news, according to Cointelegraph, the U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against a pastor named "Francier Obando Pinillo," accusing him of promoting a cryptocurrency Ponzi scheme to 1,500 people, including some congregants of a church in Washington, claiming that the scheme raised $6 million.The regulator alleges that from November 1, 2021, to December 31, 2023, Pinillo claimed to be the CEO of Solanofi, Solano Partners Ltd., and Solano Capital Investments, companies that developed the "Solano ecosystem" and traded Bitcoin, Ethereum, USDT, and other cryptocurrencies on behalf of clients. Pinillo promised clients that through Solanofi, they could earn up to 34.9% profit each month.The CFTC stated that the trading or staking services promised by Pinillo did not exist at all, and his statements and account statements were false. The defendant misappropriated all digital and fiat assets transferred by clients. The regulator seeks restitution for defrauded clients, the forfeiture of all funds generated through the scheme, the imposition of trading bans, and the issuance of a permanent injunction.

ChainCatcher news, FOX Business reporter Eleanor Terrett posted on X: "U.S. CFTC Commissioner Caroline Pham is one of the candidates for the new chair, and she pointed out that under new leadership, pausing the enforcement actions from the Biden era is a question on the table."Pham recently stated, "The outlook for next year is optimistic, as under new leadership in Washington, the CFTC chair can leverage this power to set the agenda, establish new rules, and pause enforcement actions."

ChainCatcher news, according to Cointelegraph, based on a report released by the Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee on November 21, the CFTC has approved the use of blockchain technology to manage trading collateral in the U.S. derivatives market.The report states that blockchain technology (including distributed ledgers and tokenization) can address long-standing challenges in traditional derivatives exchanges and expand the types of assets available for collateralized trading.

ChainCatcher News, CFTC Chairman Rostin Behnam stated at the SIFMA Annual Meeting that Congress is not expected to take action on cryptocurrency legislation in 2024. He urged Congress to focus on the regulation of crypto assets and election betting issues, emphasizing the importance of these areas. Behnam pointed out that although the FIT21 bill has passed in the House, it has not made further progress in Congress.In addition, the legal dispute between the CFTC and the prediction market Kalshi continues, as Kalshi has begun offering betting services on the U.S. presidential election. The CFTC is working to overturn the court's ruling and seeks to regain regulatory authority over this area.

ChainCatcher news, according to Coindesk, lawyers from the U.S. Commodity Futures Trading Commission (CFTC) argued in a brief submitted to the appellate court that a federal judge "erroneously" allowed the prediction market Kalshi to list and trade election contracts, reiterating many of the arguments made in the lower court.Last month, the judge ruled that the CFTC could not prohibit Kalshi from listing election contracts. The regulatory agency requested a stay from the appellate court to prevent the company from launching the product before the appeal outcome. However, the court's judge ruled that the CFTC failed to demonstrate that it would cause irreparable harm.

ChainCatcher news, according to The Block, the federal appeals court ruled that the prediction market platform Kalshi can continue to launch contracts to allow election betting.In an opinion submitted to the U.S. Court of Appeals for the D.C. Circuit, Judge Patricia Millett ruled that the Commodity Futures Trading Commission (CFTC) failed to demonstrate that "if the appeal is not stayed, the public will suffer irreparable harm."Since the CFTC stated at the end of last year that Kalshi could not offer contracts related to "Congressional control contracts," the CFTC and Kalshi have been in litigation.

ChainCatcher news, Galaxy posted on platform X stating that the U.S. Securities and Exchange Commission (SEC) has approved the listing and trading of spot Bitcoin ETF options on Nasdaq. However, it still requires approval from the U.S. CFTC (Commodity Futures Trading Commission) and OCC (Office of the Comptroller of the Currency), and there is currently no definitive timeline, so the exact start date for trading remains uncertain.It is reported that there are certain restrictions on spot Bitcoin ETF options trading, such as strict monitoring of market manipulation and clear position limits. Nasdaq ISE plans to collaborate with other exchanges to integrate these requirements with existing monitoring systems. Galaxy added that in the long term, spot Bitcoin ETF options could stabilize Bitcoin's volatility, enhance investor confidence, and deepen market liquidity. Coupled with the recent launch of digital asset custody services by BNY Mellon, the institutionalization of Bitcoin is accelerating.

ChainCatcher news, the U.S. CFTC has imposed a fine of $36 million on New York resident William Koo Ichioka for allegedly deceiving cryptocurrency investors through promises of high returns and using the funds for personal expenses.According to a statement on September 20, the CFTC ordered Ichioka to "pay $31 million in restitution" to victims and an additional $5 million in civil penalties for operating fraudulent forex and cryptocurrency schemes. The CFTC stated that Ichioka launched the scheme in 2018, accepting funds from investors and falsely promising "a 10% return every 30 business days." It further claimed that while Ichioka did invest "some funds" in foreign currencies and cryptocurrencies as promised to investors, he "mixed" investors' money with his own for personal expenses, including "rent for personal residences, jewelry including watches, and luxury cars."This decision came more than a year after a court's "preliminary consent order for a permanent injunction against Ichioka" in August 2023. At that time, the regulator prohibited him from "trading in any CFTC-regulated markets and also barred him from registering with the CFTC."

ChainCatcher News, CFTC Chairman Rostin Behnam stated that the CFTC will continue to argue that Kalshi's election contracts are illegal and warned of potential negative impacts.Last week, a court ruled that the CFTC overstepped its authority in opposing the listing of election-related contracts by Kalshi, and the CFTC has appealed. Behnam believes that allowing the CFTC to regulate election contracts could lead the agency to become involved in investigations of election-related fraud or manipulation, which exceeds the CFTC's mandate.He also stated that the CFTC is closely monitoring overseas prediction markets that serve U.S. customers, and will take enforcement action if any violations occur.Previously, the prediction market Polymarket reached a settlement with the CFTC for not being registered, agreeing to exit the U.S. market.

ChainCatcher news, according to CoinDesk, the Commodity Futures Trading Commission (CFTC) has warned that election gambling related to the U.S. elections is about to see explosive growth, and has requested the appellate court to continue suspending Kalshi's political prediction market while the agency's appeal is still pending.In a document submitted on Saturday, the CFTC stated that the district court's order has been interpreted by Kalshi and others as the "open season for election gambling," referring to a ruling on September 6 that determined the CFTC should not block the company from offering contracts on which party will control both houses of Congress.The agency noted that following this ruling, Wall Street giant Interactive Brokers announced it would offer contracts for the presidential election through its CFTC-regulated subsidiary. The CFTC indicated that unless the U.S. Court of Appeals for the District of Columbia extends the suspension of Kalshi contracts during the appeal, other CFTC-regulated exchanges will follow suit.The CFTC reiterated that "the surge in election gambling on U.S. futures exchanges will harm the public interest." These harms include market manipulation and undermining the integrity of elections.

ChainCatcher news, according to CoinDesk, U.S. District Judge Jia Cobb has issued a formal opinion ruling that the Commodity Futures Trading Commission (CFTC) does not have the authority to conduct a "public interest review" to block Kalshi from listing political prediction markets in the United States.Judge Cobb pointed out that Kalshi's contracts do not involve illegal activities or gambling, but rather pertain to elections, both of which fall outside the CFTC's jurisdiction.Currently, the U.S. Congress has rescinded the CFTC's public review of certain proposed futures contracts, stating that such contracts would only be subject to review if they belong to specific categories such as terrorism or gambling.

ChainCatcher news, after winning the lawsuit against the U.S. Commodity Futures Trading Commission (CFTC) on the prediction market platform Kalshi, the U.S. CFTC has filed an emergency motion attempting to block the launch of election contracts on the prediction market Kalshi within two weeks, while the agency is handling its appeal. The CFTC believes that Kalshi could launch the regulated election contracts as early as Tuesday morning after self-certifying the contracts on Monday and waiting the required one business day. The CFTC is concerned that if the contracts begin trading, its ability to halt trading or otherwise rescind the contracts will be very limited.Previous news, the regulated prediction market platform Kalshi won its lawsuit against the CFTC regarding whether Kalshi could offer predictions for the U.S. elections. Kalshi operates solely in the U.S., and each prediction contract it launches must be approved or reviewed by the CFTC.

ChainCatcher news, according to Bitcoin.com, the U.S. Commodity Futures Trading Commission (CFTC) reported on Tuesday that Judge Mary Rowland of the U.S. District Court for the Northern District of Illinois has ordered Oregon resident Sam Ikkurty and several of his entities to pay a fine of $209.61 million.The entities involved include Jafia LLC, Ikkurty Capital LLC, Rose City Income Fund I LP, Rose City Income Fund II, and Seneca Ventures LLC. The court's decision was based on the CFTC's findings of fraudulent solicitation and misappropriation of funds, which the CFTC described as a Ponzi scheme disguised as cryptocurrency and carbon investment projects.The judgment requires Sam Ikkurty to pay $83.7 million in restitution to investors, offsetting $36.9 million in illegal proceeds forfeiture, in addition to a civil penalty of $110.9 million.