🔥🔥SEC Issues $123 Million Penalty in Terra LUNA-Related Case! 🔥🔥
The SEC has imposed a $123 million penalty on Jump Trading’s Tai Mo Shan Limited, accusing it of misleading investors about the reliability of the Terra USD (UST) stablecoin and acting as a legal broker in unregistered transactions involving the LUNA crypto asset.
The U.S. Securities and Exchange Commission (SEC) said Tai Mo Shan Limited misled investors by making misleading statements about the stability of UST and engaged in unregistered legal brokerage activities in connection with LUNA transactions.
The SEC announced that Tai Mo Shan Limited has settled the charges and agreed to pay $123 million. It was reported that the amount paid was determined together with the disgorgement of the profits obtained, interests and penalties.
This development once again shows that the SEC is strengthening its controls in the crypto asset market and continuing its efforts to ensure transparency for the protection of investors. Signals are being given that stricter measures will be taken, especially against unregistered transactions.
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