The CFTC Signals New Era in Enforcement of Cryptocurrency Trading with Action Against Antivirus Software Pioneer John McAfee

The CFTC Signals New Era in Enforcement of Cryptocurrency Trading with Action Against Antivirus Software Pioneer John McAfee

For the first time, the United States Commodity Futures Trading Commission (“CFTC”) filed a complaint alleging a manipulative scheme involving digital assets.1 The CFTC’s complaint, filed on March 5, 2021 in the Southern District of New York, charged antivirus software creator John McAfee and his former employee, Jimmy Gale Watson, who served as executive adviser of McAfee’s cryptocurrency team, for engaging in a pump-and-dump scheme in a variety of digital currencies.2

McAfee is no stranger to enforcement actions. These new charges filed by the CFTC come in addition to a complaint filed in October by the Securities and Exchange Commission against McAfee, alleging fraudulent…

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