On Friday, the Commodity Futures Buying and selling Fee made a fraudster pay again $7.4 million to traders whereas vowing to guard the Bitcoin market.

Per the CFTC’s announcement, James McDonald, Director of the fee’s enforcement division, mentioned

The CFTC will proceed working to guard our markets, together with the burgeoning markets for digital belongings equivalent to Bitcoin, from fraudulent schemes, and can work in parallel with our legal legislation enforcement colleagues the place acceptable.

Immediately’s announcement considerations Jon Barry Thomson, who pleaded responsible to commodities fraud for convincing two traders to ship him over $7 million for a Bitcoin funding scheme that by no means materialized. It follows a broader development this week, which has seen an extremely energetic CFTC take the helm of plenty of enforcement actions within the crypto markets. 

Simply yesterday, the CFTC filed fees in opposition to Seychelles-domiciled crypto change Bitmex for failure to register as a derivatives change within the U.S.