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Bitcoin Broker Pays $990K Penalty for Alleged Violations

March 20, 2019 by Louis Chunovic

Bitcoin Broker Pays $990K Penalty for Alleged Violations

A brokerage located in the Marshall Islands, 1pool Ltd., and Patrick Brunner, its owner and CEO, are paying a $990,000 civil penalty to resolve a CFTC consent order charging them in federal court with making “illegal bitcoin-related transactions,” failing to register as a futures commission merchant (FCM) and “failing to meet its supervisory duties by… Read More >>

Filed Under: Derivatives Operations, Collateral & Margin Management, Derivatives Processing, Securities Operations, Clearing, Industry News, Middle-Office, Operational Risk, Ops Automation, Risk Management, General Interest, Governance, FinTech Trends, Back-Office, Blockchain/DLT, Integration, Standards, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Cybersecurity, Derivatives, Regulatory Compliance, Regulatory Reporting Tagged With: 1Broker trading platform, anti-money laundering, bitcoin, CFTC, futures commission merchant, James McDonald, Know Your Customer, Patrick Brunner

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