CFTC, SEC Team Up to Combat Crypto Scams

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The CFTC has partnered with the American Bankers Association Foundation and the SEC to fight the rising wave of crypto scams, particularly “pig butchering” schemes. These scams cost Americans billions annually and involve fake investment opportunities targeting unsuspecting users. The partnership aims to educate the public, with the American Bankers Association Foundation sharing infographics on how to spot scams and the SEC issuing investor alerts. This collaboration reflects growing efforts by U.S. regulators to curb crypto-related fraud and protect investors amid increasing non-compliance and scam threats in the digital asset space.