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BTC $65,823.00 -0.69%
ETH $1,928.23 +0.48%
BNB $569.91 -0.52%
XRP $1.12 -1.45%
SOL $77.66 -0.22%
TRX $0.3282 -0.40%
DOGE $0.0727 -0.96%
ADA $0.1755 +1.48%
BCH $219.59 -2.36%
LINK $8.61 +0.02%
HYPE $59.63 -1.22%
AAVE $97.89 +2.53%
SUI $0.7684 +0.62%
XLM $0.1883 -2.27%
ZEC $512.41 -3.85%

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

2025-04-17 21:58:00
Collection

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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