According to ChainCatcher's report, the U.S. Securities and Exchange Commission (SEC) announced that the Massachusetts District Court issued a final judgment against CLS Global FZC LLC, a UAE company claiming to be a crypto asset 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 crypto asset as a security to retail investors by creating a false impression of active trading to entice investors. CLS Global agreed to the judgment and must pay a $425,000 civil fine, $3,000 in disgorgement, and $80.39 in pre-judgment interest.
SEC: Cryptocurrency market maker CLS Global FZC has admitted to violating securities laws
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