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BTC $63,052.62 +0.04%
ETH $1,881.69 -0.07%
BNB $605.96 -0.62%
XRP $1.00 -0.33%
SOL $75.54 -0.02%
TRX $0.3309 -0.57%
DOGE $0.0698 -0.66%
ADA $0.1769 -1.86%
BCH $203.14 -1.22%
LINK $9.42 -1.96%
HYPE $57.01 +0.66%
AAVE $86.39 -0.32%
SUI $0.6764 -1.27%
XLM $0.1570 -1.25%
ZEC $486.18 -1.59%

SEC: Cryptocurrency market maker CLS Global FZC has acknowledged violations of securities laws

2025-04-17 21:58:00

According to ChainCatcher news, the U.S. Securities and Exchange Commission (SEC) announced that the Massachusetts District Court has made a final ruling against CLS Global FZC LLC, a UAE company claiming to be a cryptocurrency market maker, finding it in violation of securities laws.
The SEC accused CLS Global of participating in a scheme to manipulate the "NexFundAI" market, issuing and selling the cryptocurrency as a security to retail investors, and inducing investors to purchase by creating the illusion of active trading. CLS Global agreed to the judgment and is required to pay a civil penalty of $425,000, a disgorgement of $3,000, and pre-judgment interest of $80.39.

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