CLS Global pledges cooperation in response to US regulatory probes
CLS Global is facing investigations from U.S. regulatory authorities, including the Securities and Exchange Commission (SEC), the Department of Justice (DOJ), and the Federal Bureau of Investigation (FBI).
The company has expressed its commitment to cooperate fully with these ongoing inquiries related to its cryptocurrency operations.
In a recent statement, CLS Global reiterated its policy of avoiding direct business relationships with U.S. citizens, institutions, or clients.
According to the company, this policy aims to prevent any exposure to U.S. regulatory frameworks.
However, the investigations have raised questions about whether these measures are sufficient to avoid scrutiny.
The company announced plans to enhance its compliance framework to address concerns raised by regulators.
CLS Global's CEO, Filipp Veselov, emphasised that maintaining a policy of non-interaction with U.S. markets remains a priority.
“Our company has always aimed to maintain a policy that prohibits interaction with U.S. customers, institutions, or users,” Veselov stated.
He also highlighted the importance of adhering to compliance obligations and keeping operations separate from U.S. regulatory oversight.
Despite its efforts to distance itself from U.S. markets, CLS Global expressed its willingness to engage in constructive dialogue with authorities.
The company intends to identify areas where compliance measures can be improved to align with evolving industry standards and expectations.
This flexibility, Veselov suggests, will strengthen CLS Global’s position in the sector and help build its credibility.
The company mentioned that it is closely monitoring regulatory developments and will adjust its strategies as necessary to prioritise customer trust and compliance.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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