The Securities and Exchange Commission (SEC) has approved the proposed plan of distribution for the Poloniex fair fund. The Fair Fund includes the $10,388,309.10 paid by the respondent.
As FNG has reported, on August 9, 2021, the SEC imposed a Cease-and-Desist Order against Poloniex, LLC.
In that Order, the regulator found that from July 2017 through November 2019, Poloniex operated a digital asset trading platform that meets the definition of an “exchange” under the federal securities laws. The Commission found that Poloniex did not register as a national securities exchange nor operate pursuant to an exemption from registration at any time, in violation…
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