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FalconX to pay approximately $1.8 million to settle with U.S. CFTC

FalconX to pay approximately $1.8 million to settle with U.S. CFTC

CointimeCointime2024/05/14 13:04
By:Cointime

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.

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