SEC Fines and Settles Charges Against TrueCoin, TrustToken Over Cryptocurrency Activity
By Denny Jacob
The Securities and Exchange Commission said it settled charges against TrueCoin and TrustToken for what it described as the companies' fraudulent and unregistered sales of investment contracts involving TrueUSD, a purported stablecoin.
The regulator on Tuesday said TrueCoin and TrustToken agreed to settle the SEC's charges by consenting to final judgments and pay a civil penalty of $163,766 each without admitting or denying the allegations. TrueCoin agreed to pay disgorgement of $340,930 with prejudgment interest of $31,538, the SEC added.
The SEC's complaint alleged that from November 2020 until April 2023, TrueCoin and TrustToken engaged in the unregistered offer and sale of investment contracts and pursued opportunities to make a profit, among other allegations.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
September 24, 2024 14:25 ET (18:25 GMT)
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