Cryptocurrency News Today TheBitTimes.com

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...

FSC chief noted that their primary focus would be setting the groundwork for crypto regulations in the U.S. The United States Securites and Exchange Commission chief Gary Gensler is set to testify before the the House Financial Services Committee for the first time. In an interview, Patrick McHenry, chairman of the Financial Services Committee, confirmed that the SEC chief would have to face Congress' questions over his approach towards the crypto ecosystem on April 18. #NEW: Chairman @PatrickMcHenry confirms @SECGov Chair Gary Gensler will testify before the House Financial Services Committee on April 18th. Republicans will hold @GaryGensler accountable for his flagrant disregard for the law, jurisdiction, and the APA. pic.twitter.com/XRwcrm79PS — Financial Services GOP (@FinancialCmte) March 28, 2023 The House of Representatives Committee on Financial Services is in charge of regulating all aspects of the financial services sector, including banking, securities and digital...