The CFTC recovers $17.1 billion thanks to the controls on the crypto sector
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According to the press release, the “Commodity Futures Trading Commission” (CFTC) would have collected a record amount in 2024 thanks to crypto. We are talking about a monetary relief of a whopping 17.1 billion dollars, which comes after a series of executive actions against various crypto companies. In particular, the case of FTX is the one that has brought more money into the coffers of the authority. However, from next year the pressure in controls within the crypto sector could be more moderate. Let’s see all the details below. The CFTC announces monetary relief of 17.1 billion dollars: result of law enforcement actions in the crypto sector The Commodity Futures Trading Commission (CFTC) of the United States published yesterday the report of monetary recoveries carried out in 2024, noting strong revenues from the crypto sector. In the press room, the authority, tasked with overseeing the markets and protecting investors, outlined all the stages of its efforts and law enforcement actions. In total, during the entire fiscal year, the CFTC collected the record amount of 17.1 billion dollars. This large amount refers to 2.6 billion dollars in civil monetary penalties (CMP) and 14.5 billion dollars in restitutions. The cases of companies involved with cryptocurrency represented the majority of compensations and restitutions. In particular, the “law enforcement” operations on the Binance and FTX exchanges are those that have had the most profitable monetary outcome for the Commission. .@CFTC brought 58 new actions in fiscal year 2024 and had record monetary relief of over $17.1 billion, which included $2.6 billion in civil monetary penalties and $14.5 billion in disgorgement and restitution: https://t.co/2En5bCBihP pic.twitter.com/g4TMB234qj — CFTC (@CFTC) December 4, 2024 The monetary relief of the CFTC refers to the sums of money recovered through surveillance and control actions. These sums may include civil penalties,…
Filed under: News - @ December 5, 2024 1:27 pm