Decentralized Options Platform Opyn Has Restricted Its Use to Users in the United States
September 9th, According to the official website of decentralized options platform Opyn, Opyn has restricted the use of users in the United States.
BlockBeats previously reported that on September 8th, the US CFTC announced recent law enforcement actions in the DeFi field, and charged Opyn, Inc., ZeroEx, Inc., and Deridex, Inc. with violating the Commodity Exchange Act (CEA) and CFTC regulations, including failure to register as a swap execution facility (SEF) or designated contract market (DCM), failure to register as a futures commission merchant (FCM), and failure to adopt a customer identification program, etc.
Binance and US SEC Oppose Eeon's Petition to Intervene in Lawsuit
The SEC and Binance have opposed a petition by third-party entity Eeon to intervene in the lawsuit on behalf of customers. Binance gave three reasons for dismissing the petition, including Eeon's failure to meet requirements for intervention under the law. The SEC argued that Eeon is a serial pro se litigant whose causes have failed to gain traction in federal courts, and requested the court to deny the petition. Meanwhile, Binance has filed a motion to dismiss the US CFTC lawsuit claiming that it lacks jurisdiction on the global crypto exchange and the right to sue its CEO CZ.
Binance Asks Court to Dismiss CFTC’s Crypto Lawsuit
According to Bloomberg: Lawyers for Binance and CZ filed a motion to dismiss with a Chicago court on Thursday, stating, “In this case, the CFTC seeks to regulate foreign individuals and companies that reside and operate outside the United States. This went beyond the limits of its statutory authority and trampled on deep-seated principles of comity with foreign sovereign states.” The U.S. Commodity Futures Trading Commission (CFTC) sued the company and CZ in March, accusing them of knowingly taking steps to circumvent U.S. laws, including knowingly allowing Americans to use the platform to buy and sell cryptocurrency derivatives, even though Binance never registered.
Binance and CEO Zhao Plan to Seek Dismissal of CFTC Complaint
Binance and Changpeng Zhao filed a license application with the U.S. District Court for the Northern District of Illinois, planning to file a legal memorandum to initiate a motion to dismiss the lawsuit filed by the U.S. Commodity Futures Trading Commission (CFTC).
Former CFTC Chair Timothy Massad Calls for Crypto Regulatory Clarity Despite Ripple Court Ruling
Former chair of the CFTC, Timothy Massad, has stated that the recent SEC v. Ripple court ruling may impact the way businesses and lawmakers address crypto. However, he maintains his call for regulatory clarity.
CFTC's Pham Wants to Regulate Crypto in a Holistic Way
Commodity Futures Trading Commission Commissioner Caroline Pham addressed the discussions surrounding regulating the Treasury market and how the CFTC and SEC are working together on cryptocurrency regulation. It is desirable to regulate cryptocurrencies in a holistic manner. (Bloomberg)
US Senators Lummis and Gillibrand to Unveil Crypto Regulation Proposal on July 12
US Senators Cynthia Lummis and Kirsten Gillibrand are set to introduce a revamped crypto regulation proposal called the Lummis-Gillibrand Responsible Financial Innovation Act. The bill aims to bridge the regulatory divide between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and provide clarity for the crypto industry.
Crypto.com’s Steve Humenik Appointed to the U.S. CFTC Global Markets Advisory Committee Digital Assets Market Subcommittee
July 2 (Cointime) -Crypto.com, trusted by more than 80 million customers worldwide and the industry leader in regulatory compliance, security and privacy, is pleased to announce the appointment of Steve Humenik, Global Head of Derivatives Legal at Crypto.com, to the U.S. Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee (GMAC) Digital Asset Markets Subcommittee.
Consensys Founder Joseph Lubin Affirms Ethereum Should Be Classified as a Commodity in CNBC Interview
June 28 (Cointime) - Joseph Lubin, the founder of Consensys, has stated in a recent CNBC interview that Ethereum (ETH) should be classified as a commodity. Lubin cited previous statements by regulatory bodies, including the SEC and CFTC, as evidence for his claim.
CFTC Takes Action Against Crypto Scams, Including $21 Million Ponzi Scheme and Romance Scam Defrauding $1.3 Million
June 25 (Cointime) - The United States Commodity Futures Trading Commission (CFTC) has been actively fighting against cryptocurrency scams this week.
