The U.S. Securities and Exchange Commission announced Thursday that it has charged Cumberland DRW, a Chicago-based crypto trading firm, with various securities charges.
In an announcement, the SEC said that Cumberland operated as an unregistered dealer in handling more than $2 billion worth of cryptocurrencies.
The complaint alleges that Cumberland traded “crypto assets that are offered and sold as investment contracts on third-party crypto asset exchanges.”
The SEC complaint mentions five assets that the regulator considers to be securities, including Solana, Polygon, Cosmos, Algorand, and Filecoin. The complaint notes, however, that it is a “non-exhaustive” list of such assets.
“Despite frequent protestations by the industry…
Apr 19 2025
