FalconX to pay approximately $1.8 million to settle with U.S. CFTC
The US Commodity Futures Trading Commission (CFTC) has announced that it has charged and settled with cryptocurrency brokerage firm Falcon Labs, which will pay approximately $1.8 million in illegal gains and fines. The CFTC stated in a notice on May 13 that Falcon Labs, a subsidiary of FalconX, failed to register as a futures commission merchant. The settlement agreement requires FalconX to stop providing services to US residents and pay approximately $1.2 million in illegal gains and $600,000 in civil penalties.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
This Altcoin Surpassed Ethereum (ETH) in Trading Volume, Tripled!
Tron (TRX) network USDT trading volume has tripled that of Ethereum (ETH)-based USDT trading volume.
Former SEC Lawyer Reveals: "SEC Prepares to Appeal XRP Decision!"
The former SEC attorney said the SEC will likely appeal Judge Analisa Torres' decision in July 2023.
Bitcoin Report from Investment Giant BlackRock: "Bitcoin is a Unique Diversifier!"
Investment giant BlackRock outlined the different features of Bitcoin in its report titled “Bitcoin as a Unique Diversifier.”
Could Pepe Be Ready for a Price Surge? This Analyst Thinks So
Trending news
MoreCrypto prices
More
