On August 21, according to a decision by the National Futures Association (NFA) on August 20, cryptocurrency fund Ikigai Strategic Partners agreed to pay a $150,000 fine for allegedly making illegal bitcoin loans.
The action is part of the ongoing impact of an industry-wide liquidity crisis in 2022 and is the latest example of the NFA - the body responsible for regulating US derivatives markets - overseeing activity in the spot cryptocurrency market.
In a statement dated August 20, the NFA alleged: "Ikigai Strategic allowed a fund pool it operated to make a prohibited advance on fund pool assets to a company affiliated with it, which is jointly owned by the head of the fund, Anthony Robert Emtman, and another head of Ikigai Strategic."
The National Futures Association has fined a crypto fund $150,000 for illegal bitcoin loans
2024-08-21 02:25:10
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