Crypto Markets in Focus: SEC Files Lawsuit Against DRW Subsidiary

The US Securities and Exchange Commission has initiated legal action against a subsidiary of the trading company DRW. The allegation: trading in cryptocurrency assets amounting to over two billion dollars without being properly registered as a securities dealer. This is not the first time the Securities and Exchange Commission has taken action against crypto exchanges. Prominent platforms such as Binance, Coinbase, and Kraken have also been under the authorities' scrutiny. The SEC's latest lawsuit claims that Cumberland DRW deprived investors of the "important safeguards that registration provides." The accused subsidiary has expressed disappointment. A spokesperson for Cumberland DRW emphasized that the company "repeatedly sought clarification from the regulators" but has so far been unsuccessful. The legal action by the SEC, despite these efforts, is considered extremely regrettable.