SEC: Crypto asset market maker CLS Global FZC has admitted to violating securities laws

Odaily Planet Daily News: The US Securities and Exchange Commission (SEC) announced that the Massachusetts District Court has made a final ruling against CLS Global FZC LLC, a UAE entity that claims to be a cryptocurrency market maker, for violating securities laws. In addition, the US SEC accuses CLS Global of participating in a scheme to manipulate the "NexFundAI" market by offering and selling a cryptocurrency asset as a security to retail investors, with the aim of creating the illusion of an active trading market to entice victimized investors to purchase NexFundAI. CLS Global agrees to the final judgment and will be required to pay a civil fine of $425000, a recovery payment of $3000, and pre judgment interest of $80.39.