CandleFocus SEC settlements are becoming the cost of doing crypto business
2024-09-19
Author: Content Editor
Rari Capital, a decentralized finance (DeFi) protocol, has settled with the U.S. Securities and Exchange Commission (SEC) over allegations that its native governance token and lending pools violated securities laws. The SEC claims that Rari Capital failed to register its tokens and their offerings with the regulator and made false statements to investors. The settlement adds Rari Capital to a growing list of crypto-related companies that have settled cases with regulators, suggesting that the cost of doing business in the crypto industry includes legal battles and settlements. In other news, BitGo has announced its plan to launch a new stablecoin called USDS, which aims to challenge the dominance of existing stablecoins like Tether and Circle. The stablecoin will offer a novel reward system that shares up to 98% of earnings with participants who support the ecosystem. Finally, the purchase of a bitcoin-themed burger by former US President Donald Trump is considered historic but does not necessarily indicate a strong stance on cryptocurrency regulation.
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