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 <p class="is-style-lead">In 2023, the majority of CFTC’s <a rel="noopener noreferrer nofollow" title="whistleblower" href="https://thebittimes.com/tag/whistleblower.html">whistleblower</a> awards involved <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> fraud schemes, said Christy Goldsmith Romero, a commissioner of the regulator.</p>
 <p>As the crypto market remains the top spot for malicious actors and hackers, the U.S. Commodity Futures Trading Commission (CFTC) continues to double down on the area with its whistleblower program.</p>
 <p>In a statement on Oct. 31, CFTC Commissioner Christy Goldsmith Romero said most of the agency’s $16 million awards this year involved <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>. She particularly noted the $15 million the agency awarded to “two <a rel="noopener noreferrer nofollow" title="whistleblower" href="https://thebittimes.com/tag/whistleblower.html">whistleblower</a>s who provided significant information and assistance that led the CFTC to bring separate successful enforcement cases.” It is unclear if those cases had anything to do with <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>, though.</p>
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  <p>“With the rise of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>, more retail customers have come under the CFTC’s jurisdiction, making even more critical the efforts of the CFTC’s Whistleblower Program and the Office of Customer Education and Outreach.”</p> <cite>CFTC Commissioner Christy Goldsmith Romero</cite>
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 <p>In total, the CFTC has paid almost $350 million to whistleblowers, with over $3 billion in enforcement sanctions ordered in cases related to those awards, the CFTC Commissioner added. Goldsmith Romero noted it would be harder for the CFTC to identify fraud without whistleblowers.</p>
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  <p>“Whistleblowers help identify fraud and other illegality, interpret key evidence, and save considerable Commission resources and time.”</p> <cite>CFTC statement</cite>
 </blockquote>
 <p>In early October 2023, Rostin Behnam, the head of the CFTC, emphasized the need for a robust regulatory framework in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> industry, noting that the agency’s enforcement division issued over 130 monetary awards since 2015, with 45 related to <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> fraud, constituting approximately 34% of the total. As per Behnam, roughly 70% of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies should be designated as commodities.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cftc-paid-almost-16m-to-crypto-whistleblowers-in-2023-tbt68630.html">https://thebittimes.com/cftc-paid-almost-16m-to-crypto-whistleblowers-in-2023-tbt68630.html</a></p>

CFTC paid almost $16m to crypto whistleblowers in 2023

TheBitTimes

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