Forex

CFTC sues Cash FX over alleged $950 million crypto-linked scheme

The US Commodity Futures Trading Commission accused Cash FX of running a $950 million scheme disguised as forex trading.

According to the regulator, the company conducted minimal actual currency trading and instead misappropriated most of the participants' funds.

For beginners Regulators like the CFTC monitor firms that promise returns from currency trading to distinguish genuine brokerage services from schemes where new participants' money is used to pay earlier ones.