The Commodities Trading Futures Commission (CFTC) is hitting a South African Bitcoin (BTC) trading and networking firm with a ban and a $1.7 billion penalty for defrauding investors.
In a new press release, the CFTC announces a judge has ruled that Mirror Trading International Proprietary Limited (MTI) must pay over a billion dollars to compensate the victims of its fraud scheme involving foreign currency transactions.
“The order stems from a CFTC complaint filed on June 30, 2022, and requires MTI to pay more than $1.7 billion in restitution to defrauded victims. The order also permanently enjoins MTI from further violations of the Commodity Exchange Act (CEA), as charged, and imposes permanent trading bans in any CFTC-regulated markets as well as a registration ban against
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