Summary
- It was announced that CLS Global was convicted in a US court for virtual asset market manipulation charges.
- The SEC reported that CLS Global agreed to a judgment including a $425,000 fine and cessation of transactions within the US.
- CLS Global previously agreed to pay a $428,000 fine in a settlement with the US government.
A US court has convicted the virtual asset financial services company CLS Global of virtual asset market manipulation charges.
The US Securities and Exchange Commission (SEC) announced on its official website on the 17th (local time) that "the Massachusetts court has issued a final judgment against CLS Global, a company based in the United Arab Emirates (UAE)," stating that "CLS Global has agreed to a civil penalty of $425,000, a disgorgement of $3,000, and a cessation of transactions within the US."
Previously, CLS Global admitted to charges related to virtual asset market manipulation to the US government in January and agreed to pay a fine of $428,000. The recent decision by the US court is a ruling on a civil lawsuit filed separately by the SEC from the US Department of Justice.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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