CLS Global Reaffirms Commitment to Compliance Amid SEC Investigation, Vows Transparency and Dialogue

Recently, CLS Global faced scrutiny due to an investigation by the US Securities and Exchange Commission (SEC). In response, the company has stepped forward to clarify its operations.

CEO Filipp Veselov emphasized the company’s commitment to regulatory compliance. He shared the proactive steps they are taking to address any concerns from US authorities.

In a recent interview, Veselov laid out their strategy. He highlighted the importance of transparency and cooperation as CLS Global continues to provide secure and compliant crypto solutions worldwide.

When asked about CLS Global’s stance on US authorities' actions against cryptocurrency companies, Veselov stated, “Our stance is clear. CLS Global has a strict policy that prohibits engagement with US clients, entities, or users. We understand compliance is crucial, and we have structured our operations to stay outside US markets and regulatory jurisdictions. This principle has guided us since our founding, and we are committed to upholding it.”

Regarding initial actions taken to address this matter, Veselov mentioned, “We are proactively reaching out to US authorities to open a constructive dialogue. This shows our dedication to compliance and transparency. We want to clarify our position and address any concerns the SEC may have.”

When asked about specific measures to strengthen compliance practices, he explained, “We are enhancing our internal processes. For instance, we’re reviewing all client agreements to ensure they clearly communicate our policies regarding US persons and entities. We’re also examining our operations on various cryptocurrency exchanges, focusing on those with strong ‘Know Your Customer’ (KYC) protocols. These steps aim to reduce risks and improve compliance.”

CLS Global is also engaging with stakeholders to maintain their confidence. Veselov expressed gratitude for their patience and understanding during this time. “We are committed to keeping open lines of communication and will provide updates as needed. Our stakeholders can trust that we are doing everything necessary to resolve this matter responsibly and with integrity.”

Looking forward, Veselov shared the company’s plan to prevent similar situations in the future. “We aim to integrate compliance into every layer of our business. Beyond this immediate response, we continuously evaluate our policies and practices to align with global regulatory standards. By focusing on proactive risk management and fostering a culture of compliance, we aim to minimize potential regulatory challenges.”

Lastly, when asked what message he would like to convey to clients and partners, Veselov reassured them, “CLS Global is dedicated to providing secure and compliant cryptocurrency solutions. We strive to create a trustworthy environment and will continue adapting our practices to meet the highest compliance standards. Our goal is to maintain the confidence of our clients and partners through transparency and regulatory alignment.”

As a key player in cryptocurrency markets, CLS Global delivers liquidity solutions while adhering to strict compliance measures. Their framework underscores a commitment to regulatory standards, serving clients around the globe.