CFTC Sues Cash FX Over Alleged $950M Crypto-Linked Forex Scheme
The CFTC alleges Cash FX carried out little forex trading and misappropriated most participant funds in a crypto-linked scheme.
The US Commodity Futures Trading Commission has sued Cash FX over an alleged crypto-linked foreign exchange scheme involving $950 million, according to Cointelegraph.
The regulator claims Cash FX conducted only a small amount of forex trading. Its allegations question whether participant money was used for the trading activity associated with the scheme.
The CFTC also alleges that most participant funds were misappropriated. These claims form part of the regulator’s case and are not findings of wrongdoing.
Source: Cointelegraph
