The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed charges and reached a settlement against cryptocurrency brokerage Falcon Labs, which will pay approximately $1.80 million in illegal proceeds and penalties.
In a May 13 notice, the CFTC said Falcon Labs, a subsidiary of FalconX, failed to register as a futures commission broker, and the settlement requires FalconX to stop providing services to U.S. residents and pay about $1.20 million in illegal gains and a $600,000 civil penalty.
FalconX to pay $1.80 million to settle with CFTC
2024-05-14 12:55:28
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