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10/11/2024 3:20:47 PM (GMT+1)

The SEC has filed a lawsuit against Cumberland for acting as an unregistered securities dealer in excess of $2 billion in cryptocurrencies 🎯

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The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Cumberland, accusing it of operating as an unregistered securities dealer in more than $2 billion worth of cryptocurrency. The SEC claims that since 2018, Cumberland has been buying and selling assets that the regulator considers unregistered securities.

The SEC is seeking disgorgement of profits, an injunction, and civil penalties. Cumberland, in turn, stated that it has cooperated with the regulator and does not intend to change its activities, confident in complying with all rules.


This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.



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