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Will FalconX face additional regulatory actions by mid-2025?
5
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from regulatory bodies such as the CFTC or SEC
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CFTC Orders FalconX (Falcon Labs) to Pay $1.8M for Illegal Derivatives Trading
May 13, 2024, 06:25 PM
The Commodity Futures Trading Commission (CFTC) has issued an order against crypto prime brokerage firm FalconX for illegally providing U.S. customers access to digital asset derivatives trading platforms. FalconX, also known as Falcon Labs, has agreed to pay $1.8 million to settle the charges, which include operating as an unregistered futures commission merchant. The charges stem from FalconX facilitating derivatives trades on Binance for U.S. customers prior to March 27, 2023, when the CFTC sued Binance. Following the lawsuit, FalconX quickly strengthened its Know Your Customer (KYC) processes.
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No Action • 33%
Investigation • 33%
Regulatory Action • 33%
New disclosure rules • 25%
Increased enforcement actions • 25%
Revised compliance guidelines • 25%
Introduction of new transparency measures • 25%