Linus Financial avoids penalty in SEC crypto securities case
By 
Jeff Dale2023-09-08T19:33:00
A Tennessee-based cryptocurrency asset business avoided a civil penalty in reaching settlement with the Securities and Exchange Commission (SEC) over its alleged failure to register the offer and sale of its crypto lending product.
Linus Financial agreed to cease and desist from further violations as part of the settlement, the SEC announced in a press release Thursday. The agency acknowledged Linus’s prompt remedial actions and cooperation in not levying a monetary penalty.
In or around March 2020, Linus began the offer and sale of its lending product, “Linus Interest Accounts,” in the United States, according to the SEC’s order.
Related articles
-
PremiumCFTC commissioner floats pilot program for digital asset markets
Commissioner Caroline Pham of the Commodity Futures Trading Commission proposed the agency develop a regulatory pilot program for digital asset markets where new initiatives could be introduced and refined.
-
News BriefSEC charges Binance, founder in latest crypto crackdown
The Securities and Exchange Commission charged Binance Holdings, its U.S.-based affiliate BAM Trading Services, and their founder Changpeng Zhao with a series of securities law violations, including operating unregistered exchanges.
-
News BriefNexo Capital to pay $45M for selling unregistered crypto lending product
Nexo Capital agreed to pay a total of $45 million in penalties to settle state and federal charges it failed to register its crypto asset lending product as a security.
More from Regulatory Enforcement
-
ArticleGeorgia Tech to pay $875,000 for allegations brought by compliance officers
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
-
ArticleTractor Supply Company hit with $1.35M fine for alleged California privacy violations
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
-
Basic PageLuminUltra fined $685K by BIS for illegal shipment to Iran
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.