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In response to investigations by the U.S. Securities and Exchange Commission (SEC), the Department of Justice (DOJ), and the Federal Bureau of Investigation (FBI) regarding cryptocurrency operations, CLS Global has committed to full cooperation with authorities.
CLS Global and Investigations
CLS Global emphasized its consistent policy of avoiding the U.S. market. The company stated that this policy involves refraining from business relationships with U.S. citizens, institutions, or clients.
The company announced steps to strengthen its compliance framework to address the concerns raised by the SEC, DOJ, and FBI. It expressed that it has taken necessary measures to keep its operations away from U.S. regulatory scrutiny. However, given the severity of the allegations, it can be said that this step may not yield significant results for CLS. The company is undergoing a broad investigation that includes potential fraud beyond mere regulatory compliance.
Constructive Dialogue with Regulators
While maintaining its policy outside the U.S. market, CLS Global indicated its willingness to identify areas for enhancing compliance. The company aims to continue constructive dialogue with regulatory authorities to meet evolving industry standards and expectations.
“Our company has always aimed 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 keep its operations separate from U.S. regulatory oversight.
While CLS Global states it will maintain its current policies, it also expresses readiness to be flexible in areas with potential for enhanced compliance. This approach is believed to strengthen the company’s position in the sector and increase its credibility.
The company noted that developments related to regulations are monitored closely and strategies will be updated as necessary. It claims to prioritize customer trust and regulatory compliance to achieve its long-term objectives.
