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BTC $79,858.92 +0.23%
ETH $2,482.27 +1.14%
BNB $767.43 +6.40%
XRP $1.41 +0.99%
SOL $103.27 +1.30%
TRX $0.3338 +0.73%
DOGE $0.0898 +6.08%
ADA $0.2191 +3.87%
BCH $256.93 +3.55%
LINK $12.05 +3.50%
HYPE $85.35 +1.08%
AAVE $134.55 +3.28%
SUI $0.7974 +5.64%
XLM $0.1843 +2.69%
ZEC $1,025.32 -0.06%

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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