FalconX Settles $1.8M Charge with CFTC Over Unregistered FCM Violation

Monday, 13 May 2024, 19:31

FalconX agrees to pay $1.8 million in settlement with CFTC for breaching commodities laws by not registering as a futures commission merchant (FCM). The announcement from the regulator revealed the consequences of the crypto trading firm's failure to comply with the regulatory framework. This settlement marks an important step towards enforcement of trading regulations and highlights the significance of regulatory compliance within the financial industry.

https://store.livarava.com/e25395af-1160-11ef-a6c2-63e1980711b2.jpg — FalconX Settles $1.8M Charge with CFTC Over Unregistered FCM Violation

FalconX Settles CFTC $1.8M Charge for Unregistered FCM

FalconX will pay $1.8 million to settle newly-announced charges from the Commodity Futures Trading Commission (CFTC) that the crypto trading firm violated commodities laws by failing to register as a futures commission merchant (FCM), according to a Monday announcement from the regulator.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.