CFTC fines principal of Binary International

Maria Nikolova

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 (, 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.

Read this next

Digital Assets

Mercado Libre launches crypto trading in Chile

Argentine e-commerce giant Mercado Libre (MELI) is continuing with expansion plans for its crypto business with a fresh launch in Chile, a comparatively wealthy South American nation.

Digital Assets

Gemini to launch overseas derivative exchange amid US crackdown

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is reportedly developing an international derivative trading platform in response to a US domestic crackdown on crypto assets.

Digital Assets

Thailand’s SEC to scrap $8,800 limit for retail investment in ICOs

Thailand’s Securities and Exchange Commission (SEC) plans to lift the limit for retail investors who want to participate in initial coin offerings (ICOs) to boost asset-backed digital investments in the country.

Digital Assets

Kraken signs commitment to launch regulated business in Canada

San Francisco-based cryptocurrency exchange Kraken has filed a pre-registration undertaking with a Canadian provincial regulator as it works towards becoming a regulated provider in the country.


TT’s Keith Todd brings fixed income and cybersecurity to FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Keith Todd about Trading Technologies’ move to fixed income after nearly 30 years of existence. TT is also proposing cooperation and transparency among competitors to tackle cyber risks.

Digital Assets

Binance joins FIDO Alliance to enhance user security with introduction of passkeys

“With passkeys, a user can quickly and safely sign in across multiple sites, apps, and devices with local biometric authorization. Binance will offer users a more secure and streamlined experience using passkeys on our platform without compromising on security”.

Digital Assets

ipaymy taps TripleA in Singapore for rent, invoices, taxes, salaries in Crypto

“Our white label crypto payment solution enables our partners to reap the benefits of accepting crypto payments, without managing crypto on their balance sheets. This makes it an ideal solution for businesses looking to offer cryptocurrency payments volatility-free.”

Industry News

London and New York rank joint first as top financial centers, according to…London

“The UK remains one of the most open and global financial centres with better access to international markets than the US, France, or Japan. But our competitive advantage is at risk.”


Sterling Trading Tech (STT) discusses their Risk & Margin System at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Chief Customer Officer Keith Cacciola and Managing Director of Business Development Andrew Actman about STT’s competitive advantages, the challenges their clients face today, the firm’s product roadmap and new leadership at STT.