Cryptocurrency

DeFi

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-holds-rari-capital-accountable-for-misleading-investors/" data-wpel-link="internal">SEC Holds Rari Capital Accountable for Misleading Investors</a><br></p>
<p style="text-align: justify">The U.S. securities regulator, <a href="https://en.coin-turk.com/bitcoin-bull-market-is-the-bull-back/" data-wpel-link="internal">SEC</a>, intensifies its legal actions against <a href="https://en.coin-turk.com/elon-musks-influence-on-cryptocurrency-and-blockchain-intelligence-insights/" data-wpel-link="internal">cryptocurrency</a> firms, with Rari Capital being the latest target. The company and its founders are facing multiple charges for operating as unregistered brokers. This move aligns with SEC’s commitment made at the end of 2021, indicating that 2022 would see cryptocurrency companies facing serious consequences for their actions.</p> 
<h2 style="text-align: justify" id="latest-developments-in-the-cryptocurrency-lawsuit">Latest Developments in the Cryptocurrency Lawsuit</h2> 
<p style="text-align: justify">The SEC has lodged complaints against the DeFi protocol Rari Capital and its co-founders Jai Bhavnani, Jack Lipstone, and David Lucid. The authority claims that the company misled investors regarding the characteristics and profitability of certain cryptocurrency investments, providing unregistered brokerage services in the process.</p> 
<h2 style="text-align: justify" id="the-sec-s-stand-on-investor-protection">The SEC’s Stand on Investor Protection</h2> 
<p style="text-align: justify">Monique, the Director of the SEC’s San Francisco Regional Office, stated, “We allege that Rari Capital and its co-founders misled investors about the characteristics and profitability of some cryptocurrency investments and acted as unregistered brokers.”</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-390096 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/sec-kripto-dava-son-dakika.png" alt="" width="917" height="788"></p> 
<p style="text-align: justify">To resolve the SEC’s allegations, Rari Capital and the three co-founders have agreed to various forms of relief, which include permanent injunctions, behavioral restraining orders, civil penalties, and a five-year ban on serving as an officer or director against the co-founders, without admitting or denying the charges.</p> 
<p>The post <a href="https://en.coin-turk.com/sec-holds-rari-capital-accountable-for-misleading-investors/" data-wpel-link="internal">SEC Holds Rari Capital Accountable for Misleading Investors</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

SEC Holds Rari Capital Accountable for Misleading Investors

Table of Contents

COINTURK NEWS

Other articles published on Sep 18, 2024

What is AltLayer (ALT) Coin?

Coinpedia Fintech News

Coinpedia Fintech News

Is Solana price dropping under $90?

BitGo To Launch USDS Stablecoin, Offering Rewards For Liquidity

Vitalik Buterin at Token 2049: Crypto Is No Longer in Its Early Days

Join our free newsletter for daily crypto updates!