Page 523 - 《期货和衍生品行业监管动态》（2022年合集）
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期货和衍生品行业监管动态
Corporation. The complaint alleges that Todd and his companies operated a digital
asset exchange under the trade name “Digitex Futures.” Todd and Digitex Futures are
charged with illegally offering futures transactions on a platform other than a
designated contract market and also with attempting to manipulate the price of the
Digitex Futures native token.
In its continuing litigation, the CFTC seeks full restitution, disgorgement of
ill-gotten gains, civil monetary penalties, permanent trading and registration bans, and
a permanent injunction against further violations of the Commodity Exchange Act
(CEA), as charged.
“The CFTC’s action against Adam Todd and Digitex Futures underscores the
primacy of the CEA’s core registration provisions that are designed to ensure the
structural integrity of our nation’s derivatives markets.” said Acting Director of
Enforcement Gretchen Lowe. “Further, the CFTC will vigorously investigate
potential manipulative trading activity to ensure confidence in markets remains
strong.”
Case Background
The complaint alleges that from approximately May 2020 through May 2022,
Todd and Digitex Futures operated a digital asset derivatives exchange from an office
in Florida. The Digitex Futures exchange allegedly sought participation from U.S.
customers through web-based solicitations, despite the fact Todd knew such
participation subjected Digitex Futures to U.S. regulation.
In addition to the alleged registration and regulatory violations, the complaint
states Todd attempted to manipulate the price of DGTX, the exchange’s “native
currency,” between approximately May 2020 and August 2020. Digitex Futures
required users to deposit DGTX into their accounts to margin their trading on the
futures exchange. According to the complaint, throughout the summer of 2020—the
time when the exchange was readying for “launch”—Todd repeatedly attempted to, in
his words, “pump” the price of DGTX as reported by third-party exchanges.
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