US CFTC pays $1 million reward to digital asset whistleblower

Odaily News The U.S. Commodity Futures Trading Commission (CFTC) announced on August 8 that it had paid a $1 million bounty to a whistleblower for providing tips that led to enforcement actions in the digital asset market. In the past fiscal year, digital asset cases accounted for almost half of the CFTCs caseload, and most of the tips were related to digital assets. Brian Young, head of the CFTCs whistleblower office, said the agency is increasingly relying on tips from whistleblowers to conduct digital asset enforcement actions. The whistleblower provided sufficiently specific and credible information that supported the CFTCs case. According to the CFTC, whistleblowers can receive a bounty of 10% to 30% of the monetary sanctions collected, which is entirely drawn from the agencys Customer Protection Fund. If certain conditions are met, the CFTC also awards bounties related to enforcement actions by other domestic or foreign regulators. (bitcoin.news)