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The US Commodity Futures Trading Commission (CFTC) is facing a leadership vacuum after the Trump administration withdrew its nomination for Brian Quintenz after opposition from Gemini co-founders Cameron and Tyler Winklevoss. The leadership vaccuum is compounded by a government shutdown after Congress failed to pass a budget and the fact Acting Chair Caroline Pham has also signaled plans to leave. Comissioner Kristin Johnson’s Sept. 3 departure left Pham as the CFTC’s sole commissioner. That leaves the CFTC without a confirmed leadership just as it begins coordinating with the Securities and Exchange Commission (SEC) on digital asset regulation and prepares for potential expanded authority under the pending CLARITY Act. It’s a new day. Onwards 🇺🇸🫡 #ProjectCrypto @SECPaulSAtkins @SECGov @CFTC @A1Policy pic.twitter.com/kChRm036Mg — Caroline D. Pham (@CarolineDPham) July 31, 2025 Pro-Crypto Quintenz Faced Pushback From Gemini’s C...

According to data, crypto and digital payments companies paid nearly $6 billion in fines in 2023 for shortcomings in customer checks and anti-money laundering controls violations. Crypto and fintech groups faced fines exceeding those of the entire traditional financial system in 2023, the Financial Times reports, citing data compiled by software provider Fenergo. Data revealed that the crypto industry paid a staggering $5.8 billion in fines last year, due to security shortcomings, anti-money laundering controls, and failures to uphold sanctions to address financial crime issues. The majority of the sum included a $4.3 billion penalty imposed on Binance, described by U.S. prosecutors as “one of the largest corporate penalties in U.S. history.” As noted by the report, the figure far surpassed the $835 million paid by traditional financial services groups, marking the lowest level in a decade. Fines for money laundering and other financial crime violations | Sourc...