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CFTC Enforcement − Aiding and Abetting Liability
March 9, 2023Churchill is credited with saying “Never let a good crisis go to waste” at the end of WWII in reference to lessons learned in rebuilding the post-war world. The rolling collapse in crypto and digital assets’ markets, and particularly a series of criminal complaints and enforcement actions in the wake of FTX’s and its sister company Alameda’s bankruptcies, are one such crisis that is testing and providing valuable guidance on various Commodity Futures Trading Commission (“CFTC”) enforcement theories under the Commodity Exchange Act (“CEA”). One such cause of action, the aiding and abetting in commission of fraud, was recently articulated in the CFTC v. Nishad Singh proposed consent order (“Consent Order”).
