- Case Against TrueToken and TrueCoin
- Response from TrueToken and TrueCoin
- Ongoing Cases Against Crypto Firms
The crypto regulatory sphere has intensified: the US SEC has reached a settlement with TrueToken and TrueCoin in the TUSD fraud case.
Case Against TrueToken and TrueCoin
In the last 24 hours, the crypto regulatory sphere has seen significant action. The US SEC announced a settlement with TrustToken and TrueCoin regarding the TUSD coin fraud case. According to the SEC, the two crypto companies will pay settlement fees of $163,766 each. TrueCoin will also pay a disgorgement fee of $340,930 along with prejudgement interest of $31,538.
Response from TrueToken and TrueCoin
The issuer of the TUSD stablecoin, TrueCoin, and its lending protocol TrueToken have not commented on the issue. The SEC stated that the two firms have neither denied nor admitted to the allegations and have agreed to pay the settlement fees. According to the SEC, the companies misled investors about the safety of the investment.
Ongoing Cases Against Crypto Firms
The SEC is still battling lawsuits against leading cryptocurrency firms such as Coinbase and Ripple. While Ripple's lawsuit awaits an appeal decision, Coinbase has filed a rulemaking petition.
Regulatory actions by the SEC continue to impact the cryptocurrency market, highlighting the need for transparency and registration.
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