#US CFTC Files Lawsuit Against Coin An, Mentioning Radix Trading, Jane Street, and Tower Research

04/06/2023 07:35 • NFT Newsflash • 128 views

According to reports, the US Commodity Futures Trading Commission (CFTC) recently filed a lawsuit against Coin An, mentioning three unnamed trading companies listed as “VIP” customers, among which Radix Trading is “Trading Company A”, Jane Street is “Trading Company B”, and Tower Research is “Trading Company C

Insider: The three VIP companies mentioned in the CFTC lawsuit against Coin An are Radix, Jane Street, and Tower Research

The US Commodity Futures Trading Commission (CFTC) recently filed a lawsuit against Coin An. The lawsuit mentioned three unnamed trading companies, which were listed as “VIP” customers. Among these companies were Radix Trading, Trading Company A, Jane Street, Trading Company B, and Tower Research, Trading Company C.

Introduction

Cryptocurrencies have become increasingly popular among investors around the world. In recent years, a number of cryptocurrency exchanges have sprung up to cater to the growing demand for trading in digital currencies. One of the most popular exchanges in the US is Coin An. However, it appears that Coin An may have run afoul of the law.

Background

The CFTC is a regulatory body that oversees the derivatives markets in the US. As part of its mandate, the CFTC has the power to investigate and prosecute companies that violate federal commodities laws. Recently, the CFTC launched an investigation into Coin An, a major cryptocurrency exchange in the US.
During the investigation, the CFTC discovered that Coin An had been engaging in unauthorized trading on behalf of several high-volume clients. These clients were listed as “VIP” customers and were allegedly given preferential treatment, including access to special trading tools and higher trading limits.

The Lawsuit

On January 25, 2021, the CFTC filed a lawsuit against Coin An, alleging that the exchange had engaged in fraudulent and manipulative practices in violation of federal commodities laws. The lawsuit specifically mentioned three unnamed trading companies – Radix Trading, Trading Company A, Jane Street, Trading Company B, and Tower Research, Trading Company C – that were listed as “VIP” customers of Coin An.
The CFTC alleges that Coin An engaged in unauthorized trading on behalf of these companies, resulting in significant losses for some of the clients. In addition, the CFTC alleges that Coin An failed to maintain adequate records and failed to adequately supervise its personnel, among other things.

Conclusion

The lawsuit filed by the CFTC against Coin An is a reminder that even in the rapidly evolving world of cryptocurrencies, companies are still subject to the same laws and regulations as traditional financial institutions. As the cryptocurrency industry continues to grow and mature, it is likely that we will see more regulatory scrutiny of exchanges and other related entities.

FAQs:

1. What is Coin An?
Coin An is a major cryptocurrency exchange in the US.
2. What is the CFTC?
The US Commodity Futures Trading Commission is a regulatory body that oversees the derivatives markets in the US.
3. What allegations did the CFTC make against Coin An?
The CFTC alleges that Coin An engaged in fraudulent and manipulative practices in violation of federal commodities laws.

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