The U.S. Commodity Futures Trading Commission (CFTC) is set to announce a major restructuring of its enforcement division in a move that could have significant implications for the cryptocurrency industry. The change aims to end the controversial practice of “regulation through enforcement” while improving the agency’s ability to combat fraud, manipulation and other market abuses. Eleanor Terrett, a cryptocurrency journalist, reported that the CFTC will replace its previous enforcement task forces with two new divisions: the Complex Fraud Task Force and the Individual Fraud and General Enforcement Task Force. Related News: Unusual Move by the Gigantic Whale - Withdraws $10 Million from Binance, Converts It All to This Altcoin The Complex Fraud Task Force will oversee all preliminary investigations, inquiries and litigation related to complex fraud and market manipulation across all asset classes. Deputy Director Paul Hayeck has been appointed Chief of this task force. The restructuring is also designed to prevent the agency from becoming overextended and to ensure greater consistency, fairness and due process, a CFTC press official said. The move is seen as an effort to increase regulatory clarity and optimize agency resources. *This is not investment advice. Continue Reading: After SEC, Another US Institution Completely Erases Traces of Cryptocurrency Hostility
