US Watchdog Charges South African Bitcoin Club With $1.7B Fraud

The U.S. commodities watchdog, Commodity Futures Trading Commission (CFTC), has charged South Africa-based Bitcoin (CRYPTO: BTC) operator Mirror Trading International (MTI) and Cornelius Johannes Steynberg for $1.7 billion of fraud and registration violations. According to CFTC, MTI accepted 29,421 BTC worth $1.7 billion from 23,000 Americans for a commodity pool scheme that it wasn’t licensed to run.