SEC Charges Cumberland DRW with Operating Unregistered Crypto Securities Dealer

SEC Charges Cumberland DRW with Operating Unregistered Crypto Securities Dealer

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Cumberland DRW LLC, accusing the Chicago-based crypto market maker of operating as an unregistered securities dealer. According to the SEC, Cumberland engaged in the purchase and sale of over $2 billion in crypto assets—some of which the agency considers securities—without adhering to federal registration requirements. The SEC's complaint reveals that Cumberland has...

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