Crypto fraud and exploits have grown even more rampant in recent times. Consequently, the Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam has said the commission would expand its resources to tackle these issues.
Crypto Enforcement Now A Priority For Regulators
CFTC chair Behnam has raised concerns about the rapid rise of crypto-related fraud in a recorded message for a Chainalysis conference on Wednesday. According to a report by The Wall Street Journal, Behnam has revealed that the CFTC will be increasing its efforts and resources in crypto enforcement.
“Headlines about the loss of tens of millions of dollars in digital assets due to protocol exploits, phishing attacks, preying on vulnerable people, and other fraudulent and manipulative schemes have become far too common,” Behnam said.
Notably, the CFTC has filed over 50 cases related to crypto enforcement since 2015. Behnam noted that over half of these cases were fraud-related, with 23 cases in the last fiscal...
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