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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-files-new-lawsuit-against-cryptocurrency-company/" data-wpel-link="internal">SEC Files New Lawsuit Against Cryptocurrency Company</a> 
<a href="https://en.coin-turk.com/bitcoin-price-momentum-slows-down-after-recent-surge/" data-wpel-link="internal">Bitcoin</a> price reached its daily low a short while ago, hitting $65,555. At this moment, the SEC released a new lawsuit announcement. The Securities Regulator had paused filing new lawsuits against cryptocurrency companies for a while. However, with the November elections approaching, the SEC emphasizes its determination by not holding back on lawsuits. 
<h2 style="text-align: justify" id="sec-cryptocurrency-lawsuit">SEC Cryptocurrency Lawsuit</h2> 
Gensler, who has been tightening the noose on cryptocurrency companies, has now filed another lawsuit. In <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">the announcement</a> just received, Nader Al-Naji is accused of fraud. This lawsuit also accuses the BTCLT Token of being a fraudulent asset. The press release includes the following details; 
<blockquote> 
 “According to the SEC’s complaint, starting in November 2020, Al-Naji raised more than $257 million from unregistered token offerings and BTCLT sales while falsely telling <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> that the proceeds would not be used to compensate himself or other BitClout employees. In reality, according to the complaint, Al-Naji spent more than $7 million of investor funds on personal expenses such as rental payments for a mansion in Beverly Hills and extravagant cash gifts to family members.” 
</blockquote> 
<img decoding="async" class="size-full wp-image-375380 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/SEC-Dava-.png" alt="" width="947" height="435"> 
SEC’s Director of Enforcement Gurbir S. Grewal said; 
<blockquote> 
 “As alleged in our complaint, Al-Naji tried to evade federal securities laws and defraud the investing public.” 
</blockquote> 
This lawsuit also sends the message that you cannot deceive us with platforms disguised as decentralized. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-files-new-lawsuit-against-cryptocurrency-company/" data-wpel-link="internal">SEC Files New Lawsuit Against Cryptocurrency Company</a></h5>
The post <a href="https://en.coin-turk.com/sec-files-new-lawsuit-against-cryptocurrency-company/" data-wpel-link="internal">SEC Files New Lawsuit Against Cryptocurrency Company</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

SEC Files New Lawsuit Against Cryptocurrency Company

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