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CFTC expands list of unregistered crypto companies

The US Commodity Futures Trading Commission (CFTC) has included 34 foreign organizations in the list of unregistered ones. Six of them provide services related to cryptocurrencies.

According to the post, these are TradeFinancials, CryptoBO, Bitpay Options, CryptoSphereFX, Direct Cryptos and Prime Crypto FX. The regulator urged users to be careful, noting “a large number of complaints of fraud.”

“Because they are not registered with the CFTC, customers interacting with them may not be subject to protections and guarantees,” the Commission said.

They added that working with such organizations threatens “significant risks.” In general, the so-called “red list” has increased to 202 firms.

In November 2020, the Texas regulator issued three emergency orders to terminate the activities of 14 cryptocurrency companies suspected of fraud.

In March 2021, state officials filed claims against three unregistered projects. One of them worked under the brand of the Binance bitcoin exchange.

In October of the same year, the New Jersey Securities Bureau issued a suspension order to the management of five crypto companies due to suspicions of fraud.

Recall that in April 2022, the US Securities and Exchange Commission expanded the list of “misleading” organizations related to digital assets.

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My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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