THELOGICALINDIAN - The Commodity Futures Trading Commission CFTC has answerable 14 trading platforms that affirmation to action cryptorelated investments but accept either bootless to annals with the CFTC or falsely claimed to be registered These websites additionally display added signs of actuality scams
14 Entities Charged by CFTC
After charging above cryptocurrency barter Kraken, the Commodity Futures Trading Commission (CFTC) has now gone afterwards trading platforms claiming to action crypto-related investments.
The CFTC appear Wednesday that it has “filed accuse adjoin 14 entities for either declining to annals as futures agency merchants (FCMs) or abroad authoritative apocryphal and ambiguous claims of accepting CFTC allotment and National Futures Association (NFA) membership.”
Most of the 14 trading platforms affectation signs of scams, such as application identical websites, allurement users to pay to accompany the platforms afore they can alpha trading, claiming to be regulated, and guaranteeing huge returns. For example, some of the 14 websites affectation this message: “Earn huge acknowledgment on investment. With our able aggregation of traders, you are affirmed of your earnings.”
The derivatives babysitter detailed:
These platforms “encourage barter to alteration money or assets to them,” but none of them accept registered as an FCM, the regulator said.
Among the 12 platforms, Tradingforexpay, Bitfxprofit, Globalnationfx, Binancefxtrade, Maxforexoption, and Excotradeoptions accept about identical websites. Three added — Cryptofxtrader, Smarter Signals, and Prime Expert Trade — attending about identical. Procryptominners’ website is now offline. Two added platforms are Profx-Capitals and Star Fx Pro.
Besides the 12 platforms, the CFTC states that Climax Capital FX and Digitalexchange24.com “offer casework accompanying to trading in futures or added acquired articles and falsely affirmation to be registered with the CFTC and a affiliate of NFA.”
The two platforms’ websites additionally attending actual similar, anniversary advertence that it “offers a array of casework to its barter in affiliation with trading forex and cryptocurrencies like bitcoin that are bolt in artery commerce.”
The CFTC detailed: “Each complaint seeks orders administering the entities to cease and abandon from committing violations of the Commodity Exchange Act and CFTC regulations as charged.”
Division of Enforcement Acting Director Vincent McGonagle commented:
What do you anticipate about the CFTC activity afterwards these trading platforms? Let us apperceive in the comments area below.
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