CFTC takes legal action against Digitex futures exchange and CEO

CFTC takes legal action against Digitex futures exchange and CEO

CFTC takes legal action against Digitex futures exchange and CEO By Cointelegraph

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Cryptocurrency 18 minutes ago (Sep 30, 2022 07:20PM ET)

CFTC takes legal action against Digitex futures exchange and CEO

The United States Commodity Futures Trading Commission, or CFTC, filed a complaint against Digitex LLC and its founder and CEO Adam Todd for failing to register the cryptocurrency futures exchange and manipulating the price of its DGTX token.

According to a Sept. 30 court filing in the Southern District of Florida, Todd allegedly pumped up the price of DGTX tokens in an effort to inflate Digitex’s holdings. The U.S. regulator claimed the Digitex CEO used different corporate entities as part of a scheme to launch and operate an illegal digital asset derivatives trading platform, in violation of the Commodity Exchange Act.

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CFTC takes legal action against Digitex futures exchange and CEO

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