Golden Finance reported that according to crowdfundinsider, the U.S. Commodity Futures Trading Commission (CFTC) announced that the court had entered a default judgment in the case of Mosaic Exchange Ltd. and its owner and CEO Sean Michael. CFTC launches enforcement action alleging fraudulent digital asset commodity scheme. The order is based on a lawsuit filed by the CFTC on September 26, 2023, in which a default judgment found Mosaic and Michael liable for all violations of CFTC regulations alleged in the lawsuit, including the fraudulent solicitation of 18 individuals in the United States and other countries, alleging Providing Bitcoin and other digital asset trading services while misappropriating customer funds. The default judgment order requires them to pay approximately $468,600 in restitution, $60,980 in disgorgement and a $660,000 civil penalty.