CFTC Awards $16M to U.S. Whistleblowers; Most Tips Were Crypto-Related

The Commodity Futures Trading Commission (CFTC), which regulates derivatives markets successful the U.S., has paid retired $16 cardinal to whistleblowers this year, and most of the 1,530 tips progressive crypto, Commissioner Christy Goldsmith Romero said connected Tuesday.

"The bulk of the tips received this twelvemonth progressive crypto – an country that continues to person pervasive fraud and different illegality," Romero said successful a connection published connected the CFTC website. "With the emergence of crypto, much retail customers person travel nether the CFTC’s jurisdiction, making adjacent much captious the efforts of the CFTC’s Whistleblower Program and the Office of Customer Education and Outreach."

Whistleblowers assistance place fraud and different illegality arsenic good arsenic construe evidence, Romero said. "The faster we tin halt fraud, the much we tin support customers from harm."

This year's payouts included "more than $15 cardinal to 2 whistleblowers who provided important accusation and assistance that led the CFTC to bring abstracted palmy enforcement cases," Goldsmith Romero said.

Cumulatively the CFTC has handed retired $350 cardinal to whistleblowers, starring to much than $3 cardinal ordered successful enforcement sanctions, she said.