Breaking: CFTC brings its first Bitcoin-related anti-fraud action

Tanya Abrosimova Independent Analyst

Following a federal court in New York ruling, Gelfman Blueprint Inc. and its Chief Executive Officer Nicholas Gelfman will have to pay $2.5M in fines and penalties for defrauding at least 80 customers and swindling over $600,000. This is the first anti-fraud case enforcement filed by the Commodity Futures Trading Commission (CFTC), which involves cryptocurrency trading.

"This case marks yet another victory for the Commission in the virtual currency enforcement arena," commented James McDonald, director of enforcement at the CFTC.

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Author

Tanya Abrosimova

Independent Analyst

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