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BTC $62,713.13 -1.27%
ETH $1,870.35 -0.82%
BNB $604.15 -0.84%
XRP $1.00 -0.20%
SOL $75.31 -0.93%
TRX $0.3323 -0.48%
DOGE $0.0693 -0.88%
ADA $0.1790 -2.02%
BCH $203.11 -5.10%
LINK $8.82 +0.54%
HYPE $56.11 -2.40%
AAVE $85.70 -2.65%
SUI $0.6764 -1.84%
XLM $0.1597 -0.29%
ZEC $485.82 -0.65%

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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