Odaily Planet Daily News: The U.S. Commodity Futures Trading Commission (CFTC) has reached a settlement with Falcon Labs, Ltd., a major crypto brokerage, to resolve the issue that Falcon Labs should have registered but was not. This is the first time the CFTC has taken action against unregistered futures commission merchants, and Falcon Labs has been accused of improperly facilitating customers' transactions on digital asset exchanges. Falcon Labs did not admit or deny the CFTC's findings and was fined more than $1.7 million. Previously, the CFTC had accused Binance and its former CEO, and Falcon Labs subsequently changed the way it collected customer information and updated its know-your-customer policy. The CFTC said it hopes to encourage other illegal digital asset intermediaries to report their activities to it through cooperation and rectification of Falcon Labs.
