Rule

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-targets-crypto-companies-with-increased-pressure/" data-wpel-link="internal">SEC Targets Crypto Companies with Increased Pressure</a><br></p>
<p style="text-align: justify">The US Securities and Exchange Commission (SEC) is increasing its pressure on <a href="https://en.coin-turk.com/whats-happening-with-cryptocurrencies-bitcoin-price-analysis-and-market-outlook/" data-wpel-link="internal">cryptocurrency</a> companies. A new lawsuit has emerged. The agency, which recently sued one of the largest companies in the NFT sector, is now targeting the consulting firm Galois.</p> 
<h2 style="text-align: justify" id="sec-s-new-crypto-lawsuit">SEC’s New Crypto Lawsuit</h2> 
<p style="text-align: justify">The Securities and Exchange Commission has just announced charges against the Florida-based crypto company Galois Capital Management LLC. The commission claims that this company misled fund <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> about redemptions. To resolve the charges, Galois agreed to pay $225,000 to harmed investors. The SEC’s announcement includes the following details:</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-385367 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/SEC-yeni-dava.png" alt="" width="929" height="543"></p> 
<blockquote> 
 <p style="text-align: justify">“The SEC’s decision found that, from July 2022, Galois Capital failed to ensure that certain crypto assets held by the private fund it advised were maintained with a qualified custodian, violating the Custody Rule of the Investment Advisers Act. According to the decision, Galois Capital held certain crypto assets in online trading accounts on crypto asset trading platforms that were not qualified custodians, including FTX Trading Ltd. Approximately half of the fund’s assets under management from early to mid-November 2022 were lost in connection with FTX’s collapse.”</p> 
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/sec-targets-crypto-companies-with-increased-pressure/" data-wpel-link="internal">SEC Targets Crypto Companies with Increased Pressure</a></h5>
<p>The post <a href="https://en.coin-turk.com/sec-targets-crypto-companies-with-increased-pressure/" data-wpel-link="internal">SEC Targets Crypto Companies with Increased Pressure</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

SEC Targets Crypto Companies with Increased Pressure

Table of Contents

COINTURK NEWS

Other articles published on Sep 3, 2024

What Is the Recently Funded Bolt Protocol?

SEC Charges Crypto Firm for Custody Failures

Forgd is Reinventing Web3 Advisory with Free Tools for Tokenomics Design, Liquidity Monitoring, a...

SUI Price Future Gloomy Despite Ongoing Rally, Risks Double-Digit Dip

Cardano’s Latest Upgrade: What is Chang Hard Fork?

Which launchpads carried the most liquid IDO sales in August

Join our free newsletter for daily crypto updates!