United States of America: Filed SEC lawsuit against Cumberland DRW's alleged non-compliance with business registration obligation
Description
Filed SEC lawsuit against Cumberland DRW's alleged non-compliance with business registration obligation
On 10 October 2024, the Securities and Exchange Commission (SEC) charged Cumberland DRW LLC, a Chicago-based company, for operating as an unregistered dealer in crypto assets worth over USD 2 billion, in violation of federal securities laws. Accordi…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Business registration requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body