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The SEC accused the parties of violating the Securities Act

Attorney General Letitia James said the platform violated the Martin Act, used to combat financial fraud

The company also intends to go public via a merger with a special-purpose acquisition company

Brian Armstrong reiterated that the platform’s staking services are not securities

The decision was made amid a lack of customer interest in physical stores

The company also intends to register as a clearing agency through the Securities and Exchange Commission

The head of the company managed to cash out about 100 million of the withdrawn funds in a Swiss bank

The Securities and Exchange Commission and banking regulators are stepping up oversight of the industry after the collapse of the FTX exchange

The Commission announced a “multi-billion dollar crypto asset securities fraud”

Law enforcers believe that Alexey Pertsev may escape or conceal important evidence

Commission chair Gary Gensler said that the current business model of crypto exchanges does not meet the standard of qualified custodial services

The exchange’s chief strategy officer reported that the company strives to meet the requirements of the authorities while admitting that this was not always the case