The U.S. Commodity Futures Trading Commission (CFTC) hit crypto exchange Bitfinex and Tether—the firm behind the stablecoin Tether— for violations of the Commodity Exchange Act, or CEA, and of a prior CFTC order. What Happened According to a Friday CFTC press release, the regulator found that Tether backed its stablecoin only for 27.6 percent of…
Why Tether and Bitfinex Were Hit With CFTC Fines Totaling $42.5 Million
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