fbpx
The Daily Chain
No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
No Result
View All Result
The Daily Chain
No Result
View All Result
Home All News

First BitMEX, now McAfee: Regulation Season is in, so Who is Next?

Darryn Pollock by Darryn Pollock
6th October 2020
2 min read
2
First BitMEX, now McAfee: Regulation Season is in, and Who is Next?
0
SHARES
0
VIEWS
FacebookTwitterLinkedinTelegramEmailWhatsapp

In the recent days there have been some significant steps taken by high-level regulators as the CFTC, and then the SEC, have clamped down on alleged dodgy practices within the cryptocurrency space.

First, the CTFC charges five corporate entities and three individuals who own and run BitMEX, including the well-known CEO, Arthur Hayes. Then, this week, the U.S. Securities and Exchange Commission filed suit against John McAfee for allegedly promoting initial coin offerings (ICOs) without disclosing that the ICO issuers were paying him, a violation of U.S. securities law.

Additionally, The Justice Department reports John McAfee has been arrested in Spain for tax evasion and is awaiting extradition to the United States.

This clampdown on high-profile cryptocurrency companies and people seems to suggest a swift and sharp move by regulators, although the move has been brewing for some time. In the case of BitMEX, the charges have been under development for some time. 

The CFTC alleges that since 2014 BitMEX “illegally offered leveraged retail commodity transactions, futures, options, and swaps on cryptocurrencies including bitcoin, ether, and litecoin, allowing traders to use leverage of up to 100 to 1 when entering into transactions on its platform.” 

Regulators at the ready

The cryptocurrency space has been one that has tried to tow the line with regulators for some time now. Many saw Bitcoin and its associated ecosystem as a way to skirt regulation thanks to decentralisation, but things have changed somewhat.

Now, most businesses linked to cryptocurrency have tried their best to stay compliant and fall in line with often ambiguous and hard to follow rules. This has led to a few confusing instances of law breaking by some, and some more deliberate moves against regulators in other cases. 

As the cryptocurrency space continues to grow and appear on the radar of the likes of the SEC and the CFTC, there will no doubt be more action taken to bring companies in line, and hopefully more clarity on rules. 

But, there is another space that shows signs of disregard for regulations that could be next in the firing line. 

DeFi and Defy

The booming DeFi space is another one that shows the worrying signs of regulation defiance. With the premise of decentralisation, there is a belief that some of these projects have the ability to be exempt from liability from regulators, but this will only lead to harsher crack downs. 

Major loss of funds and doggy practices in the DeFi space will catch the attention of regulators more and more and could see a new wave of regulatory crackdown on the space that could cripple any of its potential. 

Tags: BitMEXDeFimcafee
ShareTweetShareShareSendSend
Darryn Pollock

Darryn Pollock

Darryn has been interested in the blockchain and cryptocurrency space since he heard about Bitcoin in 2015. He then decided to use his journalism degree to report on this fascinating fintech space in 2016, and has not looked back since.

Related Posts

MIT-Bitcoin
All News

MIT announces 4-year project that seeks to strengthen the Bitcoin Network Security

26th February 2021
HM Treasury-UK-Crypto
All News

HM Treasury urges regulators to consider a new Crypto-assets regime

26th February 2021
Why KYC Requirements Pose a Severe Threat To The Crypto Community
All News

Why KYC Requirements Pose a Severe Threat To The Crypto Community

26th February 2021
‘Crypto for Congress’ initiative to send $50 of BTC to US Congress members
All News

Kraken eyes new funding round – could be valued at $10bln

26th February 2021
Miami mayor hopes to add Bitcoin to city investment portfolio after Tesla’s $1.5 bln BTC investment
All News

Miami’s crypto plans set for major boost by Dubai investment group

25th February 2021
BTC Market Endures Bias Conflict: Why BTC Prices are Wobbling Around $50K
All News

BTC Market Endures Bias Conflict: Why BTC Prices are Wobbling Around $50K

25th February 2021
Next Post
Bank of Canada - CBDC

Bank of Canada Points out the risks of using a CBDC

SEC Sues John McAfee Over Promoting ICO on Twitter

SEC Sues John McAfee Over Promoting ICO on Twitter

Please login to join discussion
  • All News
  • Editor's Picks

MIT announces 4-year project that seeks to strengthen the Bitcoin Network Security

HM Treasury urges regulators to consider a new Crypto-assets regime

Why KYC Requirements Pose a Severe Threat To The Crypto Community

Kraken eyes new funding round – could be valued at $10bln

Miami’s crypto plans set for major boost by Dubai investment group

Join our newsletter!

Enter your email to receive our newsletter.


Don’t worry, we don’t spam
ADVERTISEMENT

Popular Posts

  • ‘Crypto for Congress’ initiative to send $50 of BTC to US Congress members

    Whale Alert flags over 13000 BTC moved off Coinbase

    0 shares
    Share 0 Tweet 0
  • Coinbase publicly reveals it has held Bitcoin on its Balance Sheet since 2012

    0 shares
    Share 0 Tweet 0
  • Bitcoin sold as low as $6,100 due to a Glitch – Crypto Exchange demands it back

    0 shares
    Share 0 Tweet 0
  • Canadian Bitcoin ETF attracts over $400mln in investments in 48 hours

    0 shares
    Share 0 Tweet 0
  • Former SEC Cheif Defending Ripple – Says SEC’s case has no Merit

    0 shares
    Share 0 Tweet 0

Market Updates

BTC Market Endures Bias Conflict: Why BTC Prices are Wobbling Around $50K

BTC Market Endures Bias Conflict: Why BTC Prices are Wobbling Around $50K

25th February 2021
CoinShare Lists an Ethereum Traded Product on SIX Swiss Exchange

CoinShare Lists an Ethereum Traded Product on SIX Swiss Exchange

24th February 2021
Bitcoin And Ethereum Prices Rebound As Crypto Market Recovers $250bn

Bitcoin And Ethereum Prices Rebound As Crypto Market Recovers $250bn

24th February 2021

Media

hashoshi-alts (2)

Altcoin Season Picks / Projects with Huge Potential

9th September 2020
cardano-ADA

Hashoshi: Cardano Shelley is live… but what’s next is WAY BIGGER

19th August 2020
hashoshi-alts

Hashoshi: Low Cap Alts you need to be watching in 2020

5th August 2020
fomohunt-podcast

FomoHunt Podcast – Joe Vezz & Jon Farjo: Tracking Social Sentiment Waves with Lunar Crush

30th July 2020
ethereum-hashoshi

Hashoshi: Ethereum 2.0, Chainlink, Bitcoin Price, and more!

27th July 2020
fomohunt-podcast

FomoHunt Podcast – Joe Roets: Behind the scenes of “Open source money”

24th July 2020
The Daily Chain

The Daily Chain is a news platform and educational hub founded in January 2019. We are dedicated to providing unique and informative daily content across all facets of the blockchain and cryptocurrency industry whether it be news, opinion pieces, technical analysis, reviews, interviews, podcasts and more.

LEARN MORE »

Recent Posts

  • MIT announces 4-year project that seeks to strengthen the Bitcoin Network Security
  • HM Treasury urges regulators to consider a new Crypto-assets regime
  • Why KYC Requirements Pose a Severe Threat To The Crypto Community
  • Kraken eyes new funding round – could be valued at $10bln

Information

  • About
  • Contact
  • Site notice
  • Risk Warning
  • Privacy Policy

Categories

  • News
  • Markets
  • Features
  • Education
  • Media
  • Reviews

TheDailyChain © 2020. The Home of Digital Assets

No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List

TheDailyChain © 2020. The Home of Digital Assets

At The Daily Chain, we are committed to protecting the personal data of our audience.
In light of the General Data Protection Regulation, we are asking our audience in Europe to consent to the use of cookies by The Daily Chain and its partners to continue to our site. These cookies are used to personalize your user experience (content and ads) and support and improve the site. Please click “I Agree, Continue to Site” below to consent to the use of this technology and continue to TheDailyChain.com. Visit our Privacy Statement to learn more. Cookie settingsAgree, continue to site
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

bitcoin
Bitcoin (BTC) $ 46,623.00 9.04%
ethereum
Ethereum (ETH) $ 1,507.20 8.28%
cardano
Cardano (ADA) $ 1.12 1.72%
binance-coin
Binance Coin (BNB) $ 225.68 11.58%
tether
Tether (USDT) $ 0.994886 1.06%
polkadot
Polkadot (DOT) $ 31.42 8.25%
xrp
XRP (XRP) $ 0.433463 8.61%
litecoin
Litecoin (LTC) $ 174.61 12.92%
chainlink
Chainlink (LINK) $ 25.72 9.01%
bitcoin-cash
Bitcoin Cash (BCH) $ 487.56 10.29%
Newsletter

Join our newsletter!

Enter your email to receive our newsletter.

Don't worry, we don't spam