**Crypto Comedy: SEC vs. TrueCoin & TrustToken**
- The SEC has settled charges against TrueCoin and TrustToken for selling unregistered investment contracts involving the TrueUSD stablecoin. đ
- Allegedly, the companies claimed TUSD was fully backed by US dollars, but the funds were actually in a risky overseas investment. Oops!
- By 2022, 99% of TUSD's backing was overseas, and the companies were aware of redemption issues.
- TrueCoin and TrustToken didn't admit guilt but agreed to pay penalties and stop violating securities laws.
- TUSD faced depegging issues in 2023, with Binance delisting some trading pairs.
Stay tuned for more crypto capers!
