<ul><li>US regulators fined UAE-based market-making firm CLS Global $428,000 for engaging in a wash trading scheme.</li><li>This penalty comes after CLS Global pleaded guilty to wash trading on Uniswap in January.</li><li>CLS Global executed over 80,000 wash trades, artificially inflating trading volumes from February to September 2021.</li><li>The market maker used an algorithm to mimic natural buying and selling, misleading market participants.</li></ul>

US Regulators Crack Down on UAE-Based CLS Global with a $428,000 Penalty Over 80,000 Wash Trades

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