SEC Agrees to Drop Case Against Cumberland DRW

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The US Securities and Exchange Commission (SEC) has decided to dismiss its enforcement case against Cumberland DRW, the crypto trading division of the Chicago-based firm DRW, as announced by the company on Tuesday.

The SEC initially filed a lawsuit against Cumberland DRW in October, accusing it of operating as an unregistered securities dealer and alleging that it had sold more than $2 billion in unregistered securities.

The lawsuit identified tokens such as Polygon, Solana, Cosmos, Algorand, and Filecoin as part of a “non-exhaustive” list of tokens deemed to be securities by the agency.

At the time the lawsuit was filed, Cumberland DRW, along with its CEO Don Wilson, vowed to contest the charges.

Louis Adams https://www.satoshihodler.com

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