CFTC Fines Tether For Lying & Bitfinex For ‘Illegal’ Transactions + More News
Last updated:
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
__________
Legal news
- The US Commodity Futures Trading Commission (CFTC) said it has issued an order simultaneously filing and settling charges against Tether Holdings Limited, Tether Limited, Tether Operations Limited, and Tether International Limited (d/b/a Tether) for making untrue or misleading statements and omissions of material fact in connection with the most popular stablecoin, tether (USDT). The order requires Tether to pay a civil monetary penalty of USD 41m. Also, the CFTC issued a separate order simultaneously filing and settling charges against iFinex Inc., BFXNA Inc., and BFXWW Inc. (d/b/a Bitfinex) in connection with their operation of the Bitfinex crypto trading platform. The order finds Bitfinex engaged in illegal, off-exchange retail commodity transactions in digital assets with US persons on the trading platform and operated as a futures commission merchant (FCM) without registering as required. The order requires Bitfinex to pay a USD 1.5m civil monetary penalty.
Adoption news
- US mortgage lender United Wholesale Mortgage is abandoning their plans to accept cryptocurrencies as a payment method due to lack of interest, according to CNBC. The team said that borrowers “liked it” and “said it was cool” but having the option to transact in crypto “wasn’t a driver.”
- López Obrador, President of Mexico, said that crypto isn’t “real money” and ruled out adopting it as legal tender, according to local outlet El Financiero. He has also added that he advocates for “orthodoxy” in financial matters.
- 3D virtual reality platform Decentraland is hosting a four-day “Metaverse Festival” starting October 21. Guests include Paris Hilton, Deadmau5, Alabaster dePlume, and 3LAU.
Regulation news
- Crypto exchange Coinbase has unveiled a Digital Asset Policy Proposal that suggests US Congress pass legislation to regulate crypto exchanges that they call Marketplaces for Digital Assets (MDAs), and create a registration process for those entities. Coinbase’s proposal suggests four “regulatory pillars” to guide the process: regulating digital assets under an industry-specific framework, creating the new regulator, establishing fraud protections and disclosure requirements for crypto businesses, and promoting interoperability.
Mining news
- Crypto mining company BIT Mining has announced that its mining pool subsidiary, BTC.com, will exit the mainland China market. To comply with local regulations, BTC.com will cease registering new users from mainland China and expect to start retiring the accounts of existing users in mainland China starting October 15.
Exchanges news
- Bitfinex has announced it increased the volume of heavy-duty servers at its Zug-based data center by doubling its capacity amid surging demand to trade digital tokens among hedge funds, institutional investors, and family offices. Their new level of service is “on a par with that provided by major stock exchanges,” they claim.
CBDCs news
- The Bank of Japan (BoJ) would try to develop a central bank digital currency (CBDC) that can easily coexist with private payment methods, Executive Director Shinichi Uchida said in a speech. A CBDC should be made of “relatively plain, easy-to-cook material,” he added.
NFTs news
- Auction house Sotheby’s has launched its own Ethereum (ETH)-based non-fungible token (NFT) marketplace called Sotheby’s Metaverse. Their first sale will be NativelyDigital, featuring 53 works from 19 NFT collectors and opening on October 18.
- How Tether Co-Founder William Quigley Views Crypto Regulations in Trump’s Second Term
- Trump Appoints PayPal Veteran David Sacks as ‘White House AI and Crypto Czar’
- Bitcoin Layer-2 Sector Is Overlooked: Why and What to Expect Moving Forward
- New King of Meme Coins Wall Street Pepe Ready to Launch in 3 Days – Could it Reach $1?
- Could XRP Price Be Soaring to $5? Up 17.8% This Week
Recommended Articles

Tether Engages With U.S. Lawmakers to Shape Federal Stablecoin Regulations
2025-02-16 10:07:09

Pantera Capital’s Dan Morehead Under Federal Tax Investigation After Move to Puerto Rico
2025-02-16 10:10:26

Bitcoin Analyst PlanB Moves Entire BTC Holdings to Spot ETFs for "Peace of Mind"
2025-02-16 10:12:34

West Virginia Senator Proposes Bill to Allow State Treasury Investments in Crypto and Gold
2025-02-15 10:57:24

NYSE Seeks SEC Approval for Staking in Grayscale’s Spot Ethereum ETF
2025-02-15 11:00:18

SEC Seeks 28-Day Extension to Review Coinbase’s Appeal in Ongoing Lawsuit
2025-02-15 11:02:55

Ethereum Price Set to Skyrocket With Staked ETH ETFs on the Horizon - $10k Possible?
2025-02-14 22:41:56
More Articles
Authors List
+ 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors