Author Topic: CFTC orders the crypto exchange 1pool Ltd to pay $990,000 (Read 1320 times)

mlawson71 · « **on:** March 17, 2019, 03:53:26 PM »

The Commodity Futures Trading Commission (CFTC) in the US ordered 1pool Ltd and its founder and CEO Patrick Brunner to pay 990,000 USD for illegally offering Bitcoin CFDs to retail clients in the USA.

Another charge is that 1pool Ltd is not registered as a futures commission merchant (FCM) in the US and did not comply with the required anti-money laundering (AML) procedures.

The CFTC fines 1pool Ltd with 175 000 USD civil monetary penalty and orders them to pay back 246,000 USD gains that they have made in an illegal way.

CFTC also requires 1pool Ltd to pay back US customers approximately 570,000 USD – the equivalent of 93 Bitcoins, which are held in client accounts by the company.

The fine and the paybacks amount to a total of 990,000 USD.

Source

Altcoins Talks - Cryptocurrency Forum · « **on:** March 17, 2019, 03:53:26 PM »

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Author Topic: CFTC orders the crypto exchange 1pool Ltd to pay $990,000 (Read 1320 times)

mlawson71

CFTC orders the crypto exchange 1pool Ltd to pay $990,000

Altcoins Talks - Cryptocurrency Forum

CFTC orders the crypto exchange 1pool Ltd to pay $990,000