Together with the SEC, the CFTC, the US institution with the greatest power over cryptocurrencies, has included 45 firms, some of which are crypto companies, on the sanction list. Details are as follows…
CFTC has redlisted these crypto companies
The U.S. Commodity Futures Trading Commission (CFTC) added 45 more unregistered foreign entities to its List of Unregistered (RED List) today. According to Executive Director Ian McGinley:
For nearly 10 years, the CFTC has listed assets on the RED List that have the potential to cause irreparable financial harm to unsuspecting Americans. Therefore, we strongly recommend that all our clients check the RED List before trading, as they may have little or no protection if they choose to trade with unregistered firms operating outside the US.
Which companies are selected?
Launched in 2015, the CFTC’s RED List currently includes more than 240 companies. The U.S. regulator adds a firm to the RED List, especially when it determines from research tips and public inquiries that it is not registered with the CFTC and appears to be operating in a registration-required capacity, such as binary options trading, Forex.
Also, the Commodity Exchange Act often requires brokers in the derivatives industry to register with the CFTC. A “broker” is a person or firm acting on behalf of another person in connection with futures, swaps or options. Depending on the nature of its activities, an agent may also be subject to a variety of financial, disclosure, reporting and record keeping requirements.
Here are the crypto companies on the CFTC RED List
Among the more than 240 companies included in the CFTC’s list are the following companies operating in the cryptocurrency space.
- FastfxtCoin – fastfxtcoin.com
- AlvaroFxPro – boptd.com
- Foretrade Mining – foretrademining.com
- BBT Forex – bbtforex.com
- Forex Capital Gain – forexcapitalgain.com
- Binance FX Trading – binancefxtrading.com
- Forex Cash Market – forexcashmarket.com
- Binary Option Trades – boptd.com
- FxtMetaTrust – fxtmetatrust.com
- CapitalInvestOption – capitalinvestoption.com
- Galaxy Stock Trade – galaxystocktrade.online
- CedarFX – cedarfx.com
- PrimeFX – primefxtrades.com
- ProsperityFX – prosperity4x.com
- Coingate ForexPro – coingateforexpro.com
- Quick FX Trade – quickfxtrade.com
- Crypto Banxa Pro Trade – cryptobanxatrade.com
- CryptoBanxaTrade – cryptobanxatrade.com
- CryptoBinaryTrade – cryptobinarytrade.com
- SmartBitOption – smartbitoptions.online
- CryptocurrencyBitcoinxtrade – cryptocurrencybitcoinxtrade.com
- Smart Bit Options – smartbitoptions.online
- CryptoFxMarket – cryptofxmarket.live
- CryptoInvestments – cryptoinvestments.market/index.php
- Smpfxtrade – smpfxtrade.com
- CryptoLifeTrade (IQ Option) – cryptolifetrade.com
- Standard Crypto Trading – standardcryptotrading.com
- Crypto Prolite – cryptoprolite.com
- TradersOption – tradersopt.com
- CryptorateFX Ltd. – cryptoratefx.com
- True Forex Funds – trueforexfunds.com
- Elite Financial Markets – elitefinancialmarkets.com/en
CFTC-Binance case
Prior to June 5’s SEC lawsuit, the CFTC sued Binance in late March specifically for violating US regulations. cryptocoin.comdetails of the development
