SEC fined tZERO cryptocurrency platform
The total amount of the fine for violating the US law was $800 000
12.01.2022 - 08:35
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What’s new? The US Securities and Exchange Commission (SEC) has fined the tZERO cryptocurrency trading platform. According to the SEC officials, the platform violated the US laws regarding the operation of the alternative trading systems.
News source on the SEC website
What is the essence of the accusations? The SEC believes that the tZERO security token trading platform has failed to fully disclose information about the use of the trading data outside the US. The court proceedings resulted in a hefty fine of $800 000. The tZERO did not deny the SEC's accusations and agreed to pay the fine and rectify the irregularities in the platform's operations.
It should be noted that earlier the SEC head Gary Gensler called for creating an “environment of trust” in the cryptocurrency market, comparing the current situation to the “Free Banking Era” in the Wild West from 1837 to 1863.
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