The Commodity Futures Trading Commission (CFTC) has awarded over $1 million to a whistleblower who played a crucial role in aiding an investigation related to digital assets. The whistleblower provided significant information and assistance that directly led to the CFTC taking enforcement action in connection with the digital asset markets.
“Identifying unlawful conduct in the digital asset marketplace is a major priority for the CFTC, especially as everyday Americans are increasingly victimized by digital asset scams,” stated Ian McGinley, Director of Enforcement at the CFTC. He highlighted that during the last fiscal year, nearly 50% of the CFTC’s cases involved digital assets, with the majority of whistleblower tips received being related to this sector.
Brian Young, Director of the CFTC’s Whistleblower Office, emphasized the growing importance of whistleblowers in the agency’s enforcement efforts within the digital assets space. “In this case, the whistleblower provided sufficiently specific and credible information that assisted the CFTC in bringing a successful action,” Young noted.
The enforcement action was based on information regarding improper trading in the digital asset markets that was previously unknown to the CFTC.
