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BTC $63,067.09 +0.52%
ETH $1,882.49 +0.40%
BNB $608.90 +0.44%
XRP $1.00 +1.02%
SOL $75.56 +0.68%
TRX $0.3310 -0.34%
DOGE $0.0698 +0.18%
ADA $0.1773 -0.71%
BCH $203.37 -0.05%
LINK $9.55 +6.82%
HYPE $57.05 +1.51%
AAVE $86.60 +1.51%
SUI $0.6798 +0.61%
XLM $0.1585 +1.25%
ZEC $488.86 -0.24%

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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