The authorities in the US state of Massachusetts continue to target illegal currency market practices, with the CLS Global Global, Crypto Financial Services.
On April 2, a federal court sentenced CLS Global on criminal charges related to fraudulent manipulation of the volume of encryption circulation, according to what he said. advertisement From the Public Prosecutor’s Office in Massachusetts.
In addition to a fine of $ 428,059, the CLS Global court prevented services in the United States for a period of three years.
In January, the CLS GLOBAL, a market for encryption market in the United Arab Emirates, admitted that he was guilty of one charge of conspiracy to commit market treatment and one charge of wire fraud.
CLS agreed to the “Trap Taken” Nexfundai processing of the Federal Investigation Office
The charges against CLS Global followed the secret law enforcement that involves Nexfundai, a symbol created by the FBI as part of the bite in May 2024.
The CLS GLOBAL was among at least three companies that took the taste of the FBI and agreed to provide “market maker services” to Nexfundai, including a frauds to attract investors to buy the distinctive symbol.
In October 2024, Securities and Stock Exchange Committee Declare Fraud against CLS and its employee, André Zorzz. The American Securities Regulator also submitted complaints against two other recipients in Nexfundai, ZM investment associated with Hong Kong and Russia’s consultations.
CLS Global File
According to For CLS Global, CEO of CLS Filipp Veselov, the company was established in 2017 to fill a “huge market gap for high -quality market making solutions and commercial consultations.”
Before CLS, Veselov work on the ExchandE Russian Cryptocurrency Latoken platform, which is announced as a “global digital asset exchange” and has about 370,000 followers on X.
The CLS team also includes the chief revenue employee Pavel Sengvsky, who previously worked as Stex sales manager to stop Operations without warning in 2023.
source: CLS global
According to the CLS Global’s X, the platform continues to work and has more than 110,000 followers at the time of publication.
How much is the washing trading in encryption?
Wash Trading is an illegal practice that includes artificially trading by buying and selling the original itself over and over, which generates a misleading perception of the request.
According to the January 2025 program a report Through the Analysis Analysis Company, the encryption market includes at least $ 2.6 billion in estimated trading volumes, or only about 2 % of total daily encryption trading volumes, such as I mentioned By Coingecko.
The size of the laundry trading in encryption. Source: Series
Related to: The Russian Gotbit founder issues a $ 23 million deal with American prosecutors
Some studies indicate that trading in washing is a greater share of the encryption market.
In 2022, the National Bureau of US Economic Research stated that illegal laundry trading may represent up to 70 % of medium trading volumes on unorganized stock exchanges.
magazine: Financial nihilism ended in encryption – it’s time to dream again
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