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Usha Yadav
Jul 15, 2022
by Usha Yadav

CFTC Adds 34 Crypto Entities To Its Registration Deficient (RED) List

CFTC RED List

Table of contents

  1. The US Prepares For Extensive Cryptocurrency Regulation
The United States Commodity Futures Trading Commission (CFTC) notified that it added 34 foreign businesses not registered to its Registration Deficient List (RED List) on July 14. The CFTC does not necessarily believe that the inclusion on the list indicates that the firms have broken any laws. Instead, it acts as a warning to people who are a part of the ecosystem, informing users to be on the lookout for things like potential fraud.

The CFTC RED list consists of the names of cryptocurrency platforms like Bitpay Options, Algobit, and Capital Trading Hub. Many regulatory bodies worldwide believe these sites should be outlawed, especially when it comes to trading binary options. For instance, the U.K. and the E.U. have prohibited dealing in binary options. The notification outlines the potential grounds for adding a company to the list, which primarily relates to doing business with entities not registered with the agency while trading binary options and foreign currency, among other things.

The US Prepares For Extensive Cryptocurrency Regulation

Several financial agencies in the United States seek to regulate cryptocurrencies, including the CFTC. The increase in crypto use and the recent market meltdown caused by well-known events have encouraged the nation to focus more on crypto regulation. As a result, they are working together on many market-related issues. For instance, while the United States Securities and Exchange Commission (SEC) is working on securities legislation for the cryptocurrency market, the U.S. Treasury is concentrating on stablecoin regulation.

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CFTC Commodity Futures Trading Commission RED List Registration Deficient List (RED List) United States CFTC Crypto Entities
CFTC Adds 34 Crypto Entities To Its Registration Deficient (RED) List
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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