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.
