CFTC Undercover Investigation at Consensus Conference: A Rumor or Reality?

IconCryptoNewsTerminal Staff05 Jul, 2024

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CFTC Undercover Investigation at Consensus Conference: A Rumor or Reality?

CFTC Allegedly Gathers Evidence at Consensus Crypto Event Undercover Rumors have circulated on social media that the U.S. Commodity Futures Trading Commission (CFTC) dispatched investigators to the recent Consensus crypto conference to gather evidence against crypto firms. The alleged investigation was brought to light by Larry Florio, general counsel for crypto investment firm 1kx, who tweeted about it on June 1. According to the cryptocurrency news outlet DL News, the CFTC attended Consensus to learn more about the industry. However, an email obtained by DL News from CFTC investigator Lauren Fulks suggests that the agency may have had more than just an educational purpose at the conference. In the email, Fulks describes the conference as "very strange" and mentions taking pictures of people, booths, and attendee badges. While this could be seen as evidence of an undercover investigation, DL News cautions that it may simply be part of the CFTC's standard practice of attending industry events. The CFTC has not yet officially confirmed or denied the rumors of an investigation. However, the agency's presence at Consensus has raised concerns among some crypto firms about potential enforcement actions.

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