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Randall Crater will pay back the millions lost by victims of his fraudulent crypto scheme and spend 100 months in jail followed by a three-year supervised release. Go to Source Powered by WPeMatico
In the cryptocurrency world, there has never been a shortage of dodgy projects, Ponzi Schemes, and outright scams. Most of those projects are all in the past, yet new ones tend to pop up every now and then. The founder of My Big Coin, one of the many fraudulent offerings, has been arrested and faces … Read more
A U.S. federal judge has ruled that My Big Coin is a virtual currency meeting the definition of a commodity, which falls within the jurisdiction of the Commodity Futures Trading Commission (CFTC). This allows the regulator to pursue fraud charges involving the cryptocurrency. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals Judge … Read more
The US Commodity Futures Trading Commission (CFTC) is being challenged in court over its oversight of cryptocurrencies. The defendants argue that their tokens are not commodities, with no futures contracts, which the CFTC regulates. The outcome of this case could affect the Commission’s ability to police all future crypto frauds. Also read: Yahoo! Japan Confirms Entrance … Read more
The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against “a virtual currency know as My Big Coin (MBC).” The CFTC alleges that the company raised more than $6 million USD by making false and misleading claims regarding the cryptocurrency’s utility and backing. Also Read: Vouching Bitfinex and Tether’s Bank Accounts Hold Nearly $3 Billion … Read more
