The Commodity Futures Trading Commission (CFTC) along with the Securities and Exchange Commission (SEC) issued a warning to cryptocurrency pump-and-dump groups and organizers to cease further market manipulation.
Under current US law, the CFTC cannot directly police the crypto markets. However, it does have a mandate to investigate fraud and market manipulation, authority which extends to cryptocurrency exchanges.
The CFTC also hinted that it could seek enforcement actions against those who organize such groups.
While its regulatory oversight authority over commodity cash markets is limited, the CFTC maintains general anti-fraud and manipulation enforcement authority over virtual currency cash markets as a commodity in interstate commerce.
Stay away from Pump and Dumps, PND Groups and SHilling Scams or you might get mixed up with the people currently under investigation.
Remember to research before investing and do not invest with scared money. This is not financial advice but educated speculation.
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