Odaily Planet Daily Newsđą The U.S. Securities and Exchange Commission (SEC) has formally sued Cumberland DRW, accusing it of operating as an unregistered securities dealer. According to the SEC's prosecution information, since March 2018, Cumberland has been acting as an unregistered dealer to buy and sell crypto assets as securities for its own account, involving an amount of up to $2 billionđ°. This violates the registration requirements of the U.S. federal securities law designed to protect investors.
This incident once again reminds us that the importance of regulatory compliance in the cryptocurrency industry cannot be ignoredđ. Despite the turbulent market, Bitcoin remains strong and deserves our continued attention and expectationsđ.
