CFTC fines principal of Binary International
On top of the imposition of a $200,000 civil monetary penalty, the CFTC order prohibits Curtis Dalton from soliciting funds from others for the purpose of trading any commodity interests.

The United States Commodity Futures Trading Commission (CFTC) continues with its efforts to put an end to binary options fraud. The US regulator today issued an order filing and settling charges against Curtis Dalton, the principal of Binary International, requiring him to pay $200,000 for offering illegal off-exchange retail commodity transactions to U.S. and overseas customers while failing to be registered by the CFTC as required.
From in or about October 2013 to in or about May 2016, Dalton, doing business as Binary International, solicited, accepted, and executed orders for binary options trading involving foreign currencies for both U.S. and overseas individuals. Dalton did business pursuant to an agreement with a British Virgin Islands company located in Cyprus. This BVI company operated a web-based and mobile application binary options trading platform, management and monitoring systems, and various other features to facilitate the operation of a binary options trading website.
Under the agreement with the BVI company, Dalton obtained a non-exclusive license to use and operate the BVI company’s products and services under the name Binary International. In exchange, Dalton paid the BVI company twenty percent (20%) of Binary International’ s revenues.
Dalton solicited customers through the Binary International website (www.binaryinternational.com), email, and by telephone. Most, if not all, of Binary International’ s customers were not eligible contract participants. Nor was Dalton himself an ECP.
Customers who made trades through Binary International bought or sold “call” or “put” options that allowed them to make predictive trades on whether the price of a certain foreign currency would go ”up” or “down” at a future date and/or time. During the Relevant Period, Dalton’s business took in at least $1.5 million from Binary International customers for the purpose of trading binary options.
In an agreement dated June 1, 2016, Dalton sold the business and assets of Binary International to a limited liability company formed in Mauritius in April 2016.
In addition to requiring payment of a $200,000 civil monetary penalty, the CFTC order prohibits Dalton from ever trading for others or soliciting and accepting funds from others for the purpose of trading any commodity interests.