TechFlow news: The U.S. Commodity Futures Trading Commission (CFTC) announced charges and a settlement with cryptocurrency brokerage firm Falcon Labs, requiring the company to pay approximately $1.8 million in disgorgement and civil penalties.
In a notice issued on May 13, the CFTC stated that Falcon Labs, a subsidiary of FalconX, failed to register as a futures commission merchant and "improperly facilitated access to digital asset exchanges." As part of the settlement, FalconX must cease providing services to U.S. residents and pay approximately $1.2 million in disgorgement and $600,000 in civil penalties.
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