spot_imgspot_imgspot_img

Unexpected Move: No One Saw This Coming From SEC in the Crypto World!

  • The SEC has resolved its dispute with Linus Financial over Linus Interest Accounts without imposing civil penalties on the company.
  • Linus Financial ceased offering accounts defined as securities by the SEC and refunded investors.
  • The SEC appreciated the company’s prompt response and cooperation in resolving the issue.
- Advertisement -spot_img

The SEC has settled its disagreement with Linus Financial over Linus Interest Accounts, opting not to impose civil penalties on the company. Linus Financial halted the provision of accounts classified as securities by the SEC and refunded its investors. The SEC commended the company’s quick response and collaboration in addressing the issue.

SEC and Linus Financial Reach an Agreement

sec

The SEC began scrutinizing Linus Financial’s Linus Interest Accounts in March 2020. These accounts allowed US investors to convert fiat currency into cryptocurrencies. Despite Linus Financial’s promise to pay interest in return, the SEC classified these accounts as securities and informed the company that it needed to register with the agency.

Following the SEC’s move, Linus Financial ceased offering these accounts to potential investors as of March 25, 2022. The company also initiated a process that allowed existing investors to withdraw their investments by the end of April 2022, providing a full refund guarantee.

The SEC commended the company’s swift response and remedial measures. The responsibility assumed by Linus Financial was crucial, and Stacy Bogert, Deputy Director of the SEC’s Enforcement Division, emphasized that the federal regulatory body encourages companies to cooperate and resolve issues quickly.

SEC’s Collaborative Tone

In a period where market participants claim that the SEC uses existing laws as a backdoor instead of creating clear regulations, the agency’s approach to Linus Financial stands out.

This development occurred despite heated debates over the SEC Stability Act, which aims to reorganize the agency and possibly remove the current chairman, Gary Gensler. As a result, this case targeting Linus Financial and its resolution provides a fresh perspective on the broader debate about cryptocurrency regulation.

Despite all obstacles, the SEC seems willing to enable a collaborative approach to new financial products in the cryptocurrency market, rather than a punitive one.

Conclusion

In conclusion, the SEC’s decision to resolve its dispute with Linus Financial without imposing civil penalties indicates a shift towards a more collaborative approach to cryptocurrency regulation. This could potentially pave the way for more constructive dialogue and cooperation between regulatory bodies and cryptocurrency companies in the future.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

Suggested Exchange

spot_imgspot_imgspot_imgspot_img

Latest News

2023 – 2032 Dogecoin Price Prediction: When Will DOGE Reach $1?

What is Dogecoin (DOGE)? Can the DOGE price reach the $1 target? Find out the price predictions for DOGE from 2023 to 2032 on COINOTAG!

Can Solana Maintain Its Price Above $20? Current SOL Analysis for September 29!

Solana's price is attempting to hold above the $20 resistance: What is SOL token's next price target? Here's the current price analysis!

PAID – Analysis of Current Bitcoin Market Trends on September 29

As of the latest data, the crypto market is witnessing specific trends and behaviors that merit analysis. This article delves into the key observations for September 29, shedding light on trading patterns and potential catalysts.

SEC Delays Multiple Spot Bitcoin ETF Applications!

In a series of recent decisions, the U.S. Securities and Exchange Commission (SEC) has delayed multiple spot Bitcoin ETF applications. This article provides insights into the delayed ETF filings, their significance, and the potential impact on the cryptocurrency market.

For XRP to Reach $1, It Needs to Break This Resistance! XRP Price Analysis for September 29!

XRP's price saw a significant increase in the last 24 hours and is now trading above the resistance level: What's the next price level?

PRO Analysis

Can Solana Maintain Its Price Above $20? Current SOL Analysis for September 29!

Solana's price is attempting to hold above the $20 resistance: What is SOL token's next price target? Here's the current price analysis!

PAID – Analysis of Current Bitcoin Market Trends on September 29

As of the latest data, the crypto market is witnessing specific trends and behaviors that merit analysis. This article delves into the key observations for September 29, shedding light on trading patterns and potential catalysts.

For XRP to Reach $1, It Needs to Break This Resistance! XRP Price Analysis for September 29!

XRP's price saw a significant increase in the last 24 hours and is now trading above the resistance level: What's the next price level?

Is the Next Target for Ethereum $1,700? Updated ETH Price Analysis for September 29!

Ethereum's price initiated a rapid upward movement with ETF news and surged above $1,650: Where's the next resistance level?

September 29 Bitcoin Price Analysis: Will BTC Hold Above $27,000?

In our updated Bitcoin price analysis for September 29, we've examined BTC's short, medium, and long-term outlook: Can Bitcoin hold above $27,000?
spot_imgspot_imgspot_imgspot_img
Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

2023 – 2032 Dogecoin Price Prediction: When Will DOGE Reach $1?

What is Dogecoin (DOGE)? Can the DOGE price reach the $1 target? Find out the price predictions for DOGE from 2023 to 2032 on COINOTAG!

SEC Delays Multiple Spot Bitcoin ETF Applications!

In a series of recent decisions, the U.S. Securities and Exchange Commission (SEC) has delayed multiple spot Bitcoin ETF applications. This article provides insights into the delayed ETF filings, their significance, and the potential impact on the cryptocurrency market.

Invesco Galaxy Files for 4th Spot Ethereum ETF – BlackRock’s Potential Entry!

Invesco Galaxy has recently thrown its hat into the ring by filing for a spot Ethereum ETF, marking the fourth such filing in this competitive landscape. This article explores the details of Invesco Galaxy's filing, provides an overview of the existing contenders, and speculates on whether BlackRock might follow suit.

LEAVE A REPLY

Please enter your comment!
Please enter your name here