@nick7snowcrypto
TrustToken, TrueCoin Settle With SEC Over Fraud Accusations in Stablecoin Investing
> The California companies were accused by the U.S. Securities and Exchange Commission of misrepresenting the backing of stablecoin TUSD
> The U.S. Securities and Exchange Commission has settled fraud accusations with firms associated with Archblock and the TrueUSD stablecoin
> The related companies were also said to offer and sell securities tied to TUSD without registering with the SEC
> TrustToken and TrueCoin – now rebranded and under the umbrella of Archbock – settled accusations that they knowingly misrepresented the backing of the TrueUSD (TUSD) stablecoin and offered securities tied to it without properly registering, the U.S. Securities and Exchange Commission said in a Tuesday statement
> The companies agreed to pay $163,766 each in fines, and TrueCoin will return nearly $400,000 in profits and interest, assuming a federal court approves the settlement. They've also agreed not to violate the relevant secu…
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