TechFlow reported, according to Cointelegraph, the U.S. Commodity Futures Trading Commission (CFTC) announced it has filed charges against and reached a settlement with cryptocurrency brokerage firm Falcon Labs, requiring Falcon to pay approximately $1.8 million in disgorgement and penalties. In a notice on May 13, the CFTC stated that Falcon Labs, part of FalconX, failed to register as a futures commission merchant and "improperly facilitated access to digital asset exchanges."
The settlement requires FalconX to cease providing services to U.S. residents and pay about $1.2 million in disgorgement and $600,000 in civil penalties.
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