CFTC Qualifies 34 Crypto, Forex Firms as Unregistered Foreign Entities
"Clients engaged in transactions with these entities may not benefit from client protections, warranties and safeguards," said the CFTC Commissioner Kristin Johnson. .
New
The U.S. Commodity Futures Trading Commission, or CFTC, has added 34 unregistered foreign entities to its deficient registration list, including at least six that provide crypto-related services.
In an announcement Thursday, the CFTC said it had expanded its list of companies it requires to register with the CFTC to provide services, including trading binary options, foreign exchange or other products such as cryptocurrencies. Additions to the Deficient Listings List, or RED List, include B.O TradeFinancials, CryptoBO, Bitpay Options, CryptoSphereFX, Direct Cryptos, and Prime Crypto FX.
Since 2015, the CFTC has placed 202 companies on the RED list, warning U.S.-based investors to be cautious "when participating in products or markets that have historically been subject to large number of fraud complaints". Some of the crypto company-related websites added on Thursday were not live at the time of publication.
"Because they are not registered with the CFTC, customers engaging in transactions with these entities may not benefit from the long-adopted and deeply entrenched customer protections, safeguards, and safeguards. market surveillance by the CFTC," the CFTC said. Commissioner Kristin Johnson. "Transactions with unregistered entities, particularly those that operate without such oversight and beyond our borders, can expose US customers to significant and concerning risks."
NEWS: RED List Provides Information for US Customers on Unsubscribing...
"Clients engaged in transactions with these entities may not benefit from client protections, warranties and safeguards," said the CFTC Commissioner Kristin Johnson. .
New
The U.S. Commodity Futures Trading Commission, or CFTC, has added 34 unregistered foreign entities to its deficient registration list, including at least six that provide crypto-related services.
In an announcement Thursday, the CFTC said it had expanded its list of companies it requires to register with the CFTC to provide services, including trading binary options, foreign exchange or other products such as cryptocurrencies. Additions to the Deficient Listings List, or RED List, include B.O TradeFinancials, CryptoBO, Bitpay Options, CryptoSphereFX, Direct Cryptos, and Prime Crypto FX.
Since 2015, the CFTC has placed 202 companies on the RED list, warning U.S.-based investors to be cautious "when participating in products or markets that have historically been subject to large number of fraud complaints". Some of the crypto company-related websites added on Thursday were not live at the time of publication.
"Because they are not registered with the CFTC, customers engaging in transactions with these entities may not benefit from the long-adopted and deeply entrenched customer protections, safeguards, and safeguards. market surveillance by the CFTC," the CFTC said. Commissioner Kristin Johnson. "Transactions with unregistered entities, particularly those that operate without such oversight and beyond our borders, can expose US customers to significant and concerning risks."
NEWS: RED List Provides Information for US Customers on Unsubscribing...
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