US SEC sues Tai Mo Shan for deceiving investors
The US SEC has charged Jump Trading's subsidiary, Tai Mo Shan Limited, for deceiving investors about the stability of Terra USD (UST) and acting as a legal guarantor in unregistered transactions related to the cryptocurrency asset LUNA. As part of the settlement, Tai Mo Shan has agreed to pay $123 million, including the return of profits, interest, and penalties. 💼💸
### 🌐 Assessment:
- ⚠️ Deceiving investors: The deception regarding the stability of UST has caused losses for many investors, impacting confidence in the cryptocurrency market.
- 💰 Financial settlement: The $123 million settlement is part of the SEC's efforts to clarify and address opaque practices in the digital finance industry.
- 🔍 Pressure from regulators: This is a clear example of the SEC's determination in monitoring and addressing violations in the cryptocurrency sector.
