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The US Commodity Futures Trading Commission ( CFTC ) has initiated a civil enforcement action against Mosaic Exchange Limited , a Pennsylvania-based firm, and its CEO, Sean Michael . The duo is accused of masterminding a deceptive digital asset commodity ploy, manipulating investors, and misappropriating client funds. Based on the complaint, the defendants craftily lured 17 domestic and international individuals, persuading them to invest vast sums, notably in Bitcoin (BTC). Contrary to promises, these funds, earmarked for crypto asset trading on behalf of clients, were allegedly siphoned off for the defendants’ gains. Historical data from February 2019 to June 2021 exposes that the accused provided deceptive information about Mosaic Exchange. They proclaimed Mosaic a formidable cryptocurrency trading hub, boasting significant assets and a proprietary trading algorithm claiming an 82% accuracy rate. Moreover, they tantalized potential investors with alluring profit margins betwe...

After dominating the European CRYPTOCURRENCY markets, Kraken sets its eyes on the stock and ETF sectors in the U.S. and U.K. Significantly; this marks a first for the platform, which has been crypto-focused for 12 rewarding years. U.S. and U.K. Markets: Kraken’s Next Frontier Kraken unveiled its intent to commence trading in U.S.-listed stocks and ETF s by 2024. Moreover, citing well-informed sources, Bloomberg revealed the trading would occur through “Kraken Securities,” a freshly minted division. While U.K. regulatory permits are ready, Kraken is eagerly awaiting broker-dealer licenses in the U.S., having filed applications with the Financial Industry Regulatory Authority. Hence, once live, eligible Kraken users will experience a unified dashboard. It will showcase crypto, stocks, and ETF s under a consolidated balance. Additionally, this week promises another leap for Kraken with its announcement to introduce a qualified custodian for institutional clientele. T...