The US Securities and Stock Exchange Committee will reject its case against Cumberland Drw, based in Chicago, says Tawul Checks.
“Today, we signed a joint file to be submitted with the Securities and Stock Exchange Committee (SEC) on its case against Cumberland Drw,” Campeland wrote, written on March 4 x on March 4 x. mail.
Camberland said that the deposit was agreed upon in principle between Cumberland Drw employees and SEC staff on February 20 and is currently awaiting the approval of the agency.
It is the latest encryption suit that SEC agreed to decline. I have already dropped the issues against Crypto Exchange Coinbase and Kraken, along with Crypto Connsys.
The organizer also recently announced that it has dropped the investigation into the uniquely unable to reach Yuga Labs, Opensea, Crypto Exchang Gemini and Uniswap Labs.
source: Campeland
“We look forward to continuing our dialogue with the Supreme Education Council to help forming a future, as technological progress and organizational clarity go alongside.”
Related to: Yuga Labs says that SEC has dropped its investigation at NFT
SEC filed a lawsuit against Cumberland Drw on October 10, on the pretext of one charge to work as an unregistered securities agent for more than two billion dollars of encryption assets.
The organizer claimed that Camberland was a merchant who has not been registered since March 2018 by buying and selling encryption assets that are securities.
SEC also claimed that five of the symbols that Campeland dealt were securities, including Polygon (POL), Solana (Sol), Cosmos (ATOM), algorithm (Algo) and Pilecoin (Fil).
The agency was seeking permanent restless relief, dismantling illegal gains, pre -judgment and civil penalties.
Campeland argued that it had registered as a trader in 2019, and it was obtained with the lawsuit despite the engagement in “five years of charity discussions” with the Supreme Education Council, adding that it was just a “other goal” of “the first approach to enforcement in SEC in innovation.”
Crypto Excination Coinbase recently submitted a request under the Freedom of Information Law to the Supreme Education Council who seek to discover the extent of implementation of the US Securities and Stock Exchange Committee on enforcement procedures against encryption companies.
magazine: Elon Musk's plan to operate the government on Blockchain faces an arduous battle