The CEO of Digitex Futures Exchange has been instructed to pay a hefty sum of $16 million in fines. This penalty was imposed due to the CEO’s failure to register with the Commodity Futures Trading Commission (CFTC) and for engaging in the manipulation of the exchange’s native token’s price. The CFTC, which oversees futures and options markets in the United States, took action against the CEO for these violations. The penalties serve as a consequence for the CEO’s actions, highlighting the importance of adhering to regulatory requirements and maintaining fair trading practices within the cryptocurrency industry.
HomeDIGITAL ASSETS REGULATORYworldwide-stablecoinCEO of Digitex Futures Exchange Faces Charges for Breaching Bank Secrecy Act