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ARTICLE · 07 FEBRUARY 2018

CFTC Reasserts Its Role In Virtual Currency Regulation With Enforcement Actions And Joint Statement With SEC

Ropes & Gray LLP
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The next day, shortly after announcing the charges publicly, the CFTC released a statement with the Securities and Exchange Commission (SEC)...

United StatesFinance and Banking
Christopher P. Conniff
Christopher P. Conniff
Michael McGovern
Michael McGovern
Helen Gugel
Helen Gugel
Ethan M Thomas
Ethan M Thomas
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This alert was originally published as an article by Law360 on January 25, 2018.

On January 19, 2018, the Commodity Futures Trading Commission (CFTC or the Commission) filed separate enforcement actions against two individuals and their respective companies for fraudulent activity involving virtual currencies.1 The next day, shortly after announcing the charges publicly, the CFTC released a statement with the Securities and Exchange Commission (SEC) reiterating their joint commitment to stopping and preventing fraud in the offer and sale of digital instruments. Then, on January 24, the Commission announced that it had unsealed charges against a virtual currency exchange website and its controlling individuals. Collectively, these actions confirm a regulatory environment of increased oversight of this emerging asset class.

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