CLS Global FZC, a financial services firm based in the United Arab Emirates, has agreed to plead guilty to charges of wash trading and market manipulation. The firm will pay a penalty of $428,059 in seized cryptocurrency and cash as part of a settlement announced by U.S. federal prosecutors. Additionally, CLS Global is barred from participating in the U.S. cryptocurrency markets. This development follows an FBI investigation that uncovered the firm's use of wash trading algorithms to inflate trading volumes on the decentralized exchange Uniswap. Separately, the Dubai-based Wall Street Exchange has also reached a non-prosecution agreement with the Eastern District of New York, agreeing to pay more than $9.2 million to resolve a bank fraud investigation related to false statements made to a U.S. financial institution regarding its anti-money laundering compliance.