{"id":50359,"date":"2021-09-29T11:21:20","date_gmt":"2021-09-29T08:21:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50359"},"modified":"2025-09-02T17:36:46","modified_gmt":"2025-09-02T14:36:46","slug":"cftc-fines-kraken-1-25-million-for-unregistered-retail-margin-trading","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cftc-fines-kraken-1-25-million-for-unregistered-retail-margin-trading\/","title":{"rendered":"CFTC Fines Kraken $1.25 Million for Unregistered Retail Margin Trading"},"content":{"rendered":"<p>The U.S. Commodity Futures Trading Commission (CFTC) fined the Kraken exchange for offering unregistered retail margin trading of digital assets, including Bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">THE LATEST: Commissioner Stump\u2019s concurring statement on enforcement action against Payward Ventures, Inc. (d\/b\/a Kraken). Read it here: <a href=\"https:\/\/t.co\/yo7qiUOMS0\">https:\/\/t.co\/yo7qiUOMS0<\/a><\/p>\n<p>\u2014 CFTC (@CFTC) <a href=\"https:\/\/twitter.com\/CFTC\/status\/1442952082252652547?ref_src=twsrc%5Etfw\">September 28, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Under the order, in addition to paying a civil penalty of $1.25 million, the platform must &#8220;cease and desist from further violations of the Commodity Exchange Act as charged.&#8221;<\/p>\n<p>According to the regulator, from roughly June 2020 through July 2021 Kraken offered retail margin trading to U.S. clients. These transactions were illegal because they were supposed to be conducted on designated contract markets (DCMs).<\/p>\n<p>In addition, the exchange operated without registering as a futures commission merchant (FCM), the Commission noted.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Our actions are part of the CFTC&#8217;s efforts to protect US customers. Trading of digital assets on margin, with borrowed funds or financing offered to retail customers, must occur on properly registered and regulated exchanges in compliance with all applicable laws and rules,&#8221; said Acting Director of Enforcement Vincent McGonagle.<\/p>\n<\/blockquote>\n<p>Coinbase <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-files-application-to-register-as-a-futures-commission-merchant\">filed an application<\/a> for FCM status.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Commodity Futures Trading Commission (CFTC) fined the Kraken exchange for offering unregistered retail margin trading of digital assets, including Bitcoin.<\/p>\n","protected":false},"author":1,"featured_media":50360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,879,193,26],"class_list":["post-50359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-cftc","tag-kraken","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=50359"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50359\/revisions"}],"predecessor-version":[{"id":50361,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50359\/revisions\/50361"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/50360"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=50359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=50359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=50359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}