đ¨ Crypto News Flash! đ¨
The SEC has charged Florida-based Galois Capital with serious compliance failures and investor misrepresentation. Key points:
- Galois Capital failed to follow the Custody Rule, holding crypto assets on platforms like FTX, not deemed qualified custodians by the SEC.
- This led to significant losses, especially during FTX's collapse in Nov 2022.
- Misleading redemption policies further misinformed investors.
- Galois Capital has settled with a $225,000 penalty and agreed to cease further violations.
đŹ What are your thoughts on SEC's actions? Comment below!
