WASHINGTON—The U.S. Commodity Futures Trading Commission (CFTC) has ramped up enforcement actions against crypto assets, revealing it was behind 18 separate actions in the 2022 fiscal year.
“This shows that the regulator is taking a tough stance on crypto and is not afraid to crack down on offenders,” Forbes reported.
The CFTC) imposed over $2.5 billion in penalties in the fiscal year 2022, according to an October 20 report. Eighty-two enforcement actions were filed, resulting in restitution, disgorgement, and civil monetary penalties through settlement or litigation, according to Forbes.
As mentioned by CFTC, around 20% of CFTC's enforcement actions were against digital asset businesses, the report added.
‘Aggressively’ Policing
“This FY 2022 enforcement report shows the CFTC continues to aggressively police new digital commodity asset markets with all of its available tools,” said CFTC Chairman Rostin Behnam.
The CFTC recently fined bZeroX, Ooki DAO, and their founders $250,000.
“This enforcement action gained notoriety in the crypto world and serves as a reminder of the need for compliance with regulatory guidelines,” Forbes said.
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