According to Reuters, CLS Global, a cryptocurrency financial services company based in the UAE, has agreed to plead guilty to U.S. charges, admitting to assisting in market manipulation during the FBI-led "Operation Token Mirror." This operation aimed to trap fraudulent activities in the market by creating the digital token NexFundAI and fictitious cryptocurrency companies. CLS admitted to providing false trading services, such as wash trading, to artificially inflate trading volumes and prices. The company will plead guilty to two charges, pay a fine of $428,059, and be banned from participating in cryptocurrency trading or services aimed at U.S. investors. Additionally, CLS has agreed to submit annual compliance reports to the U.S. Securities and Exchange Commission and resolve related civil charges.

According to Reuters, CLS Global, a cryptocurrency financial services company based in the UAE, has agreed to plead guilty to U.S. charges, admitting to assisting in market manipulation in an FBI-led operation dubbed "Token Mirror." This operation aimed to trap fraud in the market by creating the digital token NexFundAI and fictitious crypto companies. CLS admitted to providing fake trading services (such as wash trading) to artificially inflate trading volumes and prices. The company will plead guilty to two charges, pay a fine of $428,059, and is banned from participating in crypto trading or services aimed at U.S. investors. Additionally, CLS has agreed to submit annual compliance certifications to the U.S. Securities and Exchange Commission and resolve related civil charges.

CLS Global admits to participating in market manipulation, providing false trading services in an FBI sting operation.