Token

when

TrueUSD

<ul class="wp-block-list news-points">
 <li>TrustToken and TrueCoin settle with the SEC over charges of defrauding TrueUSD (TUSD) investors.</li>
 <li>The SEC alleged the companies misled investors about TUSD’s backing and invested reserves in a high-risk fund.</li>
 <li>TUSD de-pegged from the US dollar in early 2024, following Binance’s removal of the stablecoin from its Launchpools.</li>
</ul>
The Securities and Exchange Commission (SEC) has <a href="https://www.sec.gov/newsroom/press-releases/2024-145" target="_blank" rel="noopener noreferrer nofollow">settled charges</a> it had leveled against Trust Token and TrueCoin, the California-based companies accused of defrauding users with the TrueUSD (TUSD) stablecoin.
Both companies have agreed to pay $163,766 each in fines, with TrueCoin also paying a disgorgement of $340,000 and $31,538 in interest.
<h2 class="wp-block-heading" id="h-trusttoken-and-truecoin-sued-by-sec">TrustToken and TrueCoin Sued by SEC</h2>
The SEC charged TrustToken and TrueCoin for allegedly misleading investors by claiming that TUSD was pegged to US dollars or equivalents, when in fact, a major portion of the assets were actually invested in a high-risk offshore fund.
<a href="https://coinedition.com/crypto-community-reacts-as-trueusd-tusd-faces-stability-issues/" rel="noopener noreferrer nofollow">Read also: Crypto Community Reacts as TrueUSD (TUSD) Faces Stability Issues</a>
By March 2022, more than $500 million had been invested in speculative funds. Despite the long crypto winter and the redemption issues in 2022, the …
The post <a href="https://coinedition.com/tusd-case-settled-trusttoken-truecoin-pay-up-to-the-sec/" rel="noopener noreferrer nofollow">TUSD Case Settled: TrustToken, TrueCoin Pay Up to the SEC</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

TUSD Case Settled: TrustToken, TrueCoin Pay Up to the SEC

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