In its 2023 fiscal year, the Commodity Futures Trading Commission (CFTC) marked a historic milestone by bringing a substantial number of enforcement actions, with digital assets at the center of the regulatory spotlight.
In total, the CFTC initiated 96 enforcement actions, and an astonishing 47 of these were directly related to digital assets. This pronounced focus on digital assets underscores the increasing importance and complexities associated with the regulation of this rapidly evolving sector.
Among the notable cases that drew the CFTC's attention were those involving key figures and entities in the digital asset space. Former FTX CEO Sam Bankman-Fried found himself entangled in a legal battle with the agency.
Similarly, crypto exchange Binance, a prominent player in the digital currency arena, and its CEO Changpeng Zhao faced CFTC actions. Additionally, Celsius, a cryptocurrency lending platform, and its former CEO Alex Mashinsky were subject to enforcement proceedings.
These high-profile cases exemplify the CFTC's commitment to holding individuals and organizations accountable for their actions within the realm of digital assets.
In stark contrast to the previous fiscal year, where the CFTC brought only 18 actions related to digital assets, the agency's heightened engagement in this sector in 2023 highlights the evolving nature of the regulatory landscape.
The CFTC is resolutely adapting to the growing significance of digital assets and the associated challenges posed by this rapidly expanding market.
CFTC Chair Rostin Behnam expressed his satisfaction with the agency's achievements in the digital asset space, asserting that it has established itself as a premier enforcement agency in this domain.
He applauded the Division of Enforcement's groundbreaking work, resulting in a record number of cases. Behnam reiterated the agency's unwavering focus on combating fraud and manipulation in the United States, further emphasizing their commitment to holding market participants accountable within CFTC-regulated markets.
The CFTC's heightened involvement in digital assets aligns with the broader efforts by lawmakers to enact regulatory measures within the cryptocurrency space. Notably, there are bills in the pipeline designed to regulate digital assets. One of these bills, titled the "Fit for the 21st Century Act," is currently under consideration for a vote in the full House. This legislation, led by House Republicans, aims to bridge regulatory gaps between the CFTC and the Securities and Exchange Commission (SEC).
In recent months, the CFTC has directed its attention toward the burgeoning sector of decentralized finance (DeFi). The agency took action against three DeFi protocols in September—Opyn, ZeroEx, and Deridex—alleging that they engaged in "illegal digital asset derivatives trading." These cases resulted in settlements, with the entities being required to pay civil monetary penalties of varying amounts.
As the CFTC continues to expand its involvement in digital assets and DeFi, it remains a pivotal player in shaping the regulatory landscape of these emerging markets. The agency's record-setting year, with nearly half of its enforcement cases related to digital assets, underscores the complexities and challenges of regulating this dynamic and rapidly evolving sector. The ongoing legislative efforts and legal precedents established by the CFTC further indicate the growing significance of digital assets in the global financial landscape.
Windtree is being delisted from Nasdaq after its share price crashed below the required $1 level. The company’s shift from biotech to holding BNB tokens failed to win investor trust, wiping out nearly all its value.
AnaisBNC, a company listed on Nasdaq, purchased 200,000 Binance Coins for $160 million and aims to raise up to $1.25 billion to increase its BNB holdings. This reflects a rising trend of firms investing in BNB as part of their corporate crypto portfolios.
Weatherly
Jason RiggsChangpeng "CZ" Zhao has broken through into the top echelons of the world’s wealthiest individuals, with his net worth reaching an estimated $75 billion following BNB’s new all-time high of $857.18.
XingChiBinance Changpeng Zhao's family office, YZi Labs, is making a significant move by supporting an investment company to go public in the U.S.
XingChiSilk Road founder Ross Ulbricht has resurfaced as a polarising crypto figure, raising $1.8 million in Bitcoin by auctioning prison memorabilia. Days later, he received a surprise 300 BTC donation worth $31 million—reigniting debate over whether this support reflects alignment with his ideals or raises ethical concerns in today’s crypto culture.
CatherineThe SEC dropped its lawsuit against Binance after nearly three years of legal action over alleged securities violations. The case was closed as the new SEC leadership began easing its stance on crypto regulation.
WeatherlyBhutan has launched the world’s first national crypto tourism payment system, letting visitors pay for everything from flights to local goods using digital currencies like Bitcoin and BNB. The system, built with Binance Pay and DK Bank, helps local businesses—especially in remote areas—accept crypto payments easily.
AnaisUSDC is now the default currency on Binance Pay, making it easier for users to send and receive money instantly with zero gas fees. This update simplifies payments for both individuals and businesses, offering fast, low-cost transactions using a stable digital dollar.delays or extra costs.
AnaisCrypto donations in 2025 are expected to hit $2.5 billion, fuelled by digital wealth and better regulations. Binance co-founder CZ’s 1,000 BNB donation to Myanmar and Thailand’s earthquake relief highlights crypto’s rising role in global aid.
KikyoThere is no such thing as free money. As with all elements of the crypto industry, staking comes with various risks.
JinseFinanceThere are two main types of Bitcoin Rollups being explored: Validity Rollups and Sovereignty Rollups
JinseFinanceIn the core mechanism of Arweave, there is a very important concept and component, which is the storage fund Endowment.
JinseFinanceIn 2024, one of the main topics of discussion in the “crypto space” seems to be meme coins.
JinseFinanceLens Protocol, Farcaster, Social, Bankless: What are the similarities between Lens and Farcaster? What are the main architectural differences? Golden Finance, which decentralized social protocol has more functions?
JinseFinanceDencun includes 9 EIPs that enhance everything from security to the staking experience.
JinseFinanceThe SEC has yet to propose cryptocurrency-focused rules, but it is weighing two rules it may adopt in the new year. The CFTC just voted to propose a rule that would bolster customer protections following the collapse of cryptocurrency exchange FTX.
JinseFinanceAs a product of its times, Dogecoin has its own set of problems. DogeLayer is here to fix just that.
Max Ng
CointelegraphCointelegraph