The crypto industry faced a storm of legal challenges in 2023 as the SEC opened lawsuits against numerous companies and accused altcoins of being securities. The case against XRP Coin has been ongoing for years. Last year, the agency initiated over 100 investigations and is pushing hard to reach a similar number this year. It has now taken action against another US-based company.
SEC Crypto Case
The Securities and Exchange Commission today announced a statement about Florida-based TradeStation Crypto. According to the recent share, this platform was promising interest income in exchange for crypto staking and did not register with the SEC to serve US customers. As with other crypto companies, an investigation was launched for providing unregistered services. TradeStation agreed to pay a $1.5 million fine, ensuring the process will not be prolonged.
According to the SEC’s decision, as of June 30, 2022, TradeStation voluntarily ceased offering and selling the interest feature to investors. Earlier this year, TradeStation announced its plan to terminate all crypto-related products and services in the US market by February 22, 2024.
