The Commodity Futures Trading Commission (CFTC) has issued an order against crypto prime brokerage firm FalconX, also known as Falcon Labs, for illegally providing U.S. customers access to digital asset derivatives trading platforms. FalconX has agreed to pay $1.8 million to settle charges of operating as an unregistered futures commission merchant. The charges include facilitating derivatives trades on Binance for U.S. customers prior to March 27, 2023. This action is part of the CFTC's broader efforts to regulate digital asset exchanges and enforce compliance with U.S. financial laws. The Seychelles-incorporated entity's case is noted as a first-of-its-kind involving digital asset exchanges.