SEC Sues Cumberland DRW for Breaching US Securities Laws
On October 10, the SEC charged Cumberland DRW with operating as an unregistered crypto exchange. According to the SEC’s press release,
“According to the SEC’s complaint, since at least March 2018 through the present, Cumberland has acted as an unregistered dealer by buying and selling crypto assets offered and sold as securities for its own accounts as part of its regular business.”
Acting Chief of the SEC’s Crypto Assets and Cyber Unit (CACU) stated,
“The federal securities laws require all dealers in all securities to register with the Commission, and those who operate…
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