US DoJ charges CLS Global FZC LLC, a cryptocurrency financial services firm, with ‘wash trading’- fraudulent manipulation of cryptocurrency trading volumes

CLS Global a UAE-based cryptocurrency firm has agreed to plead guilty to charges of market manipulation and wire fraud, paying a fine of $428,059. The company is banned from U.S. cryptocurrency markets and must submit annual certifications ensuring compliance. The charges stem from involvement in “wash trading” through a fake crypto company, NexFundAI…