<p>The post <a href="https://coinpedia.org/crypto-live-news/falconx-fined-1-8m-by-cftc-ceases-u-s-crypto-derivatives-trading/" rel="noopener noreferrer nofollow">FalconX Fined $1.8M by CFTC, Ceases U.S. Crypto Derivatives Trading</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>FalconX settled with the CFTC for $1.8 million, accused of violating commodities laws by operating as a futures commission merchant (FCM) without registration. The firm is known as a digital asset prime broker, and it provided U.S.-based institutional clients access to crypto exchanges for derivatives trading. FalconX lost half its customers after the KYC measures prompted by the actions of CFTC against Binance. The settlement includes a disgorgement of $1,179,008 and a $589,504 civil penalty, requiring FalconX to halt unregistered FCM activities.</p>

FalconX Fined $1.8M by CFTC, Ceases U.S. Crypto Derivatives Trading

CoinPedia News

Other articles published on May 14, 2024

NiceHash Unveils Maribor as European Crypto Hub with Inaugural Bitcoin Conference

Tether partners with RAK DAO to advance crypto education and adoption in UAE

Memecoins soar as Trump endorses crypto, TRUMP coin leads with 83% surge

Bitcoin Runes Transactions Plummet Significantly

Crypto Expert Who Predicted Bitcoin (BTC) Slipping Below $60,000 Believes This Dogecoin (DOGE) Co...

Bitcoin Runes Protocol Faces Significant Decline in Activity

Join our free newsletter for daily crypto updates!