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Officers at the US Commodity Futures Buying and selling Fee (CFTC) have been reportedly contemplating an enforcement motion towards Stephen Ehrlich, the previous CEO of crypto lending agency Voyager Digital.
In line with an Oct. 6 Bloomberg report, CFTC workers have been contemplating taking motion towards Ehrlich following an investigation concluding the previous CEO violated U.S. derivatives rules previous to Voyager’s chapter submitting. The agency filed for Chapter 11 safety in July 2022 amid the crypto market downturn.
Ehrlich was reportedly “angered and perplexed” by the claims:
“These allegations look like a type of instances the place the referees are making new guidelines and calling foul after the sport has ended.”
Associated: Collectors for bankrupt Voyager Digital billed $5.1M in authorized charges
Voyager, nonetheless in the course of chapter proceedings, was already beneath scrutiny from the U.S. Federal Commerce Fee “for [its] misleading and unfair advertising and marketing of cryptocurrency to the general public”. A chapter courtroom accepted Voyager’s plan to repay prospects in Could, and the case was ongoing on the time of publication.
The CFTC has a number of circumstances pending towards crypto companies which have the potential to make waves throughout the U.S. regulatory area, however most of the enforcement actions in 2023 have been introduced by the Securities and Alternate Fee. Binance and its CEO Changpeng Zhao have pushed for authorities to dismiss an CFTC lawsuit filed in March whereas many executives at Binance.US have left the change amid regulatory scrutiny.
Journal: US enforcement companies are turning up the warmth on crypto-related crime
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