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ARTICLE · 24 JULY 2023

The FTC Is Targeting Crypto Too - With A Significant New Enforcement Action

Wiley Rein
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Last week the Federal Trade Commission (FTC) joined the Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in bringing charges and announcing...

United StatesTechnology
Duane C. Pozza
Duane C. Pozza
Lauren N. Lerman
Lauren N. Lerman

Last week the Federal Trade Commission (FTC) joined the Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in bringing charges and announcing settlements with the now-bankrupt cryptocurrency platform, Celsius Network. At the same time, the FTC, SEC, CFTC, and Department of Justice filed litigation against the company's co-founder and former CEO, Alex Mashinsky, and the FTC included the company's other co-founders, Shlomi Leon and Hanoch Goldstein, as defendants as well. As we predicted last year, the FTC is using its broad authorities to police allegedly deceptive or unfair practices in crypto – which don't depend on whether a token is a security, commodity, or any other regulatory category.

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