💨 Abstract

The U.S. Securities and Exchange Commission (SEC) has charged crypto market maker Cumberland DRW for acting as an unregistered dealer, dealing with over $2 billion in crypto assets since March 2018. The SEC claims these assets were securities traded as investment contracts on third-party crypto exchanges. Cumberland has not yet responded to the charge, and the SEC is embroiled in legal battles with several other crypto platforms.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖