In response to investigations into its cryptocurrency operations by the U.S. Securities and Exchange Commission (SEC), Department of Justice (DOJ), and Federal Bureau of Investigation (FBI), CLS Global has pledged to fully cooperate with authorities.
CLS Global and Investigation
CLS Global emphasized that it constantly maintains its policy of staying away from the US market. The company stated that this policy includes avoiding business dealings with U.S. citizens, institutions or customers.
The company said it has taken steps to strengthen its compliance framework to address concerns from the SEC, DOJ, and FBI. In this context, he stated that they have taken the necessary measures to keep their operations away from US regulatory control. However, when we remember how serious the accusations are, we can say that this step will not have much consequences for CLS. Beyond regulatory compliance, the company is undergoing an extensive investigation, including fraud.
Constructive Dialogue with Regulations
CLS Global said it is open to identifying areas where it can improve compliance while maintaining its non-U.S. market policy. The company wishes to continue a constructive dialogue with regulatory authorities to ensure compliance with evolving industry standards and expectations.
“Our company has always intended to maintain a policy that prohibits interaction with U.S. customers, institutions or users.” – CLS Global CEO Filipp Veselov.
Veselov added that the company takes its compliance obligations seriously and is working to ensure its operations remain separate from U.S. regulatory oversight.
While CLS Global stated that it maintains its current policies, it also stated that it is ready to act flexibly in areas that have the potential to increase compliance. It is thought that this approach will strengthen the company’s place in the industry and increase its reliability.
It was stated that developments regarding regulations are closely followed and strategies will be updated when necessary. The company claims that it prioritizes customer trust and compliance with regulations to achieve its long-term goals.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
