Stock Market News

US CFTC probing Jump Trading’s involvement in crypto, Fortune reports

06/20/2024

1 minute read

2024.06.20 13:36

(Reuters) – The U.S. Commodity Futures Trading Commission (CFTC) is probing Jump Trading’s involvement in the cryptocurrency space, Fortune reported on Thursday, citing a person familiar with the matter.

The investigation is not evidence of wrongdoing, and it could not be learned if the regulator is considering charges against the trading firm, the report said.

Jump has been a crypto trader for years and has also launched a business to explore and research blockchain technology.

While the approval of spot bitcoin exchange-traded funds earlier this year encouraged optimism among crypto investors, regulators have maintained their tough stance toward the industry.

© Reuters. FILE PHOTO: Signage is seen outside of the US Commodity Futures Trading Commission (CFTC) in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly/File Photo

Major crypto executives have accused regulators of overreach and warned that a heavy-handed approach could prompt them to move their companies offshore.

A spokesperson for Jump’s crypto unit declined to comment. The CFTC did not immediately respond to a Reuters request for comment.

06/20/2024

1 minute read

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