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US SEC, TrueUSD Issuer TrustToken Settles Securities Charges – Crypto News
The US Securities and Exchange Commission (SEC) has announced charges settlement with TrustToken, the issuer of the TrueUSD stablecoin. TrustToken and TrueCoin were both named in the settlement as the markets regulator said they offer unregistered securities to investors.
US SEC and the TrueUSD Genesis
It is not uncommon to find the Gary Gensler-led commission drag crypto and Web3 companies for fraud charges. The regulator specifically said the firms offered TUSD as an unregistered investment contract.
The US SEC also claimed that the smart-contract enabled lending platform contolled by the duo – TrueFi operated as an securities brokerage. The exact charges encompasses activities conducted from November 2020 until April 2023.
This settlement comes after the regulator slammed FlyFish Club $750,000 to resolve a securities charge.
This is a breaking news, please check back for updates!!!
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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