Crypto Market Maker Hit With $428,000 Fine Over Wash Trading

From decrypt.co

A financial services firm has been fined over $400,000 after pleading guilty to wash trading in a Boston court. CLS Global, a firm that specializes in market making, was ordered to pay a total of $428,059 to the government, in the form of seized cryptocurrency and fines. The company was also sentenced to three years’ probation, during which time it will not be able to participate in U.S. cryptocurrency markets. These charges followed an undercover law enforcement operation which specifically targeted sham trading, wash trading and activity intended to attract investors. The company agreed to provide services for ... (full story)