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
SEC Drops Fraud Case Against HEX Founder Richard Heart

Cardano Surges 17%, Eyes Potential $5 Target

SOL Strategies Secures $500M for Solana Validator Expansion

Ubisoft and Immutable Launch ‘Might & Magic’ on Ethereum

Trending news
MoreCrypto prices
More








