The United States Commodity Futures Trading Commission (CFTC) notified that it added 34 foreign businesses not registered to its Registration Deficient List (RED List) on July 14. The CFTC does not necessarily believe that the inclusion on the list indicates that the firms have broken any laws. Instead, it acts as a warning to people who are a part of the ecosystem, informing users to be on the lookout for things like potential fraud. NEWS: The RED List provides information to U.S. customers about unregistered foreign entities acting in a capacity that requires registration with the CFTC. Thirty-four new entities were added to the list today. Learn more at https://t.co/gMw4UGxfyp. — CFTC (@CFTC) July 14, 2022 The CFTC RED list consists of the names of cryptocurrency platforms like Bitpay Options, Algobit, and Capital Trading Hub. Many regulatory bodies worldwide believe these sites should be outlawed, especially when it comes to trading binary options. For instance, the U.K. and the E.U. have prohibited dealing in binary options. The notification outlines the potential grounds for adding a company to the list, which primarily relates to doing business with entities not registered with the agency while trading binary options and foreign currency, among other things. The US Prepares For Extensive Cryptocurrency Regulation Several financial agencies in the United States seek to regulate cryptocurrencies, including the CFTC. The i...
