Following recent actions by US prosecutors and the US Securities and Exchange Commission (SEC) against several crypto companies, including CLS Global, the company released a statement explaining the situation. CLS Global is in contact with U.S. authorities to establish a constructive and cooperative dialogue in hopes of resolving the incident, addressing misunderstandings, and taking appropriate corrective actions to reduce future risks. I took it.
Strict policy against involvement in the US market
The company said CLS Global maintains a policy of not operating within the U.S. market or doing business with U.S. citizens, entities, or users. This policy has been in place since the company was founded.
“Our company has always aimed to maintain a policy of prohibiting engagement with U.S. customers, entities, and users. We take our compliance obligations very seriously,” said Filip Veselov, CEO of CLS Global. “We take this seriously and have worked to ensure business continuity.” Separated from U.S. markets and regulatory jurisdictions. ” Veselov added, “However, we recognize that there may be areas where we can improve our processes and are open to constructive dialogue with regulators.”
Steps to strengthen resolution and compliance
In response to the current situation, CLS Global has taken several measures, including:
Contact with US authorities: The company reports that it has initiated contact with US authorities to address concerns and misunderstandings. CLS Global believes that through open and transparent dialogue, we can move towards solutions.
Customer Agreement Review: CLS Global says it is in the process of reviewing and enhancing its customer agreements to clearly communicate our policies regarding individuals and entities in the United States.
Exchange Partnership Evaluation: The company evaluates its operations with various crypto exchanges, focusing on exchanges with robust Know Your Customer (KYC) protocols to further mitigate potential risks. It is reported that they are doing so.
CLS Global’s forward-looking statements
CLS Global is committed to operating within the applicable laws of the jurisdictions in which it operates. The company assured stakeholders that it strives to comply with its obligations to customers and partners as it works through this process.
“We take this situation very seriously and are committed to engaging in constructive discussions with regulators to address any concerns,” Veselov said. “Our goal is to ensure full compliance and transparency in our operations, and we are open to considering any necessary adjustments to our practices.”
The company also expressed its gratitude to its customers, partners, and stakeholders for their patience and understanding as it works to address this situation. CLS Global stated that it remains committed to providing updates as needed and maintaining open communication throughout this process.
About CLS Global
CLS Global is a leading cryptocurrency market-shaping company specializing in providing bespoke liquidity solutions for cryptocurrency projects around the world. CLS Global is known for its innovative approach, robust compliance framework, and customer-centric operations, and operates at the forefront of the digital asset industry.
Disclaimer: The information provided in this press release is not intended as a solicitation for investment, nor is it intended as investment advice, financial advice or trading advice. Before investing in or trading in virtual currencies or securities, we strongly recommend that you exercise due diligence, including consulting with a professional financial advisor.
