SEC sues Cumberland, calls Solana and Polygon securities
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SEC announced on Thursday, October 10th that it is charging Cumberland DRW with different security charges. One of the charges states that the crypto trading firm is an unregistered dealer while handling more than $2 billion in crypto assets.
Furthermore the complaint claims that Cumberland has traded “crypto assets that are offered and sold as investment contracts on third-party crypto asset exchanges.”
Source: https://www.sec.gov/
Cumberland tweeted the reply to SEC charges on X. The company said that “we are ready to defend ourselves again”.
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