SEC Reaches $10 Million Settlement With Poloniex for Regulatory Violations

The U.S. Securities and Exchange Commission (SEC) today announced that it reached a $10 million settlement with the Poloniex cryptocurrency exchange, which allegedly offered an unregulated platform for trading digital assets between July 2017 and November 2019.

The SEC said that some of the cryptocurrency exchange’s employees “stated internally that they wanted Poloniex to be ‘aggressive’ in making available for trading new digital assets on the Poloniex trading platform, including digital assets that might be considered securities under the Howey test, in an effort to increase market share,” sometime “in or around August 2017.”

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button