CFTC and SEC join forces to combat cryptocurrency fraud

ChainCatcher News, the U.S. Commodity Futures Trading Commission (CFTC) has launched a public education program in collaboration with several agencies, including the U.S. Securities and Exchange Commission (SEC), focusing on combating cryptocurrency-related scams, particularly "pig butchering" schemes implemented through fake romantic relationships.

The CFTC, along with the American Bankers Association Foundation and federal agencies such as the FBI and IRS, has released infographics to help consumers identify scams. In collaboration with the SEC, the Financial Industry Regulatory Authority (FINRA), and the North American Securities Administrators Association (NASAA), investor alerts have been issued to remind the public not to respond to unsolicited messages and to encourage reporting of suspicious texts.