COINOTAG News, January 22nd. The U.S. Department of Justice has reported that cryptocurrency market maker CLS Global is poised to resolve serious legal issues concerning its involvement in fraudulent trading practices. As stipulated in an indictment issued by a federal grand jury in Boston in September 2024, CLS Global will concede to various charges, including conspiracy to commit market manipulation and telecommunication fraud. Should the court ratify the plea agreement, CLS Global faces significant penalties, including the payment of $428,059 to the U.S. government, derived from both seized assets and fines. Furthermore, this settlement will impose a ban on CLS Global’s operations within the U.S. cryptocurrency sector. The firm, registered in the UAE, operates with over 50 staff members, all located internationally, yet still engages with U.S. investors through its cryptocurrency services.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024