US CFTC pays $1 million reward to digital asset whistleblower

The U.S. Commodity Futures Trading Commission (CFTC) announced on August 8 that it had paid a $1 million bounty to a whistleblower for providing tips that led to enforcement actions in the digital asset market. In the past fiscal year, digital asset cases accounted for almost half of the CFTC's caseload, and most of the tips were related to digital assets. Brian Young, head of the CFTC's whistleblower office, said the agency is increasingly relying on tips from whistleblowers to conduct digital asset enforcement actions. Whistleblowers provide "sufficiently specific and credible information" that supports the CFTC's cases. According to the CFTC, whistleblowers can receive a bounty of 10% to 30% of the monetary sanctions collected, which is entirely drawn from the agency's Customer Protection Fund. The CFTC also awards bounties related to enforcement actions by other regulators, domestic or foreign, if certain conditions are met. (bitcoin.news)