Civil Plaintiff

Poloniex and the SEC Reach a $10 Million Settlement Over Registration Status

The Securities and Exchange Commission has charged crypto exchange Poloniex for operating an “unregistered online digital assets exchange” and facilitating the trading of digital assets it deems securities on its platform.

Poloniex will pay $10 million to settle charges with the Securities and Exchange Commission, it was announced Monday.

The charges related to the period between Jul. 2017 and Nov. 2019, when the firm operated the exchange prior to selling the platform to an Asian consortium of unidentified investors. The SEC claims that during the period “Poloniex operated a web-based trading platform that facilitated buying and selling digital assets, including digital assets that were investment contracts and therefore securities.”

Read the source article at Crypto Briefing

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