According to BlockBeats, the U.S. Department of Justice has disclosed that cryptocurrency market maker CLS Global has agreed to settle criminal charges related to fraudulent manipulation of cryptocurrency trading volumes. As part of the settlement, CLS Global will admit to charges outlined in an indictment issued by a federal grand jury in Boston in September 2024. These charges include conspiracy to commit market manipulation and wire fraud, as well as a separate charge of wire fraud. If the court accepts its guilty plea, CLS Global will pay a total of $428,059 to the U.S. government, which includes seized cryptocurrencies and fines. Additionally, the company will be prohibited from participating in the U.S. cryptocurrency market.
CLS Global is a company registered in the United Arab Emirates, employing over 50 staff members, all of whom are based outside the United States. Despite this, the company provides cryptocurrency-related services to investors within the U.S.