The SEC has settled the allegations and ordered a combined penalty of $700,000. The lawsuit was filed at the U.S. District Court for the Northern District of California.

TrustToken and TrueCoin, the entities behind the TrueUSD (TUSD) stablecoin, last week reached a settlement with the US Securities and Exchange Commission (SEC) over allegations of fraudulent and unregistered sales of investment contracts. The companies have agreed to pay a combined total of $700,000 in penalties and disgorgement without admitting or denying the SEC's findings.

The SEC accused TrustToken and TrueCoin of investing 99% of the reserves backing TUSD in a risky fund with redemption issues.

The SEC settled charges against TrueCoin and TrustToken for fraudulently marketing the TrueUSD stablecoin as fully backed by U.S. dollars.

Federal securities regulators have reached an agreement with TrueUSD (TUSD) issuer TrueCoin and lending protocol operator TrustToken to settle charges for the alleged and fraudulent sale of unregistered investment contracts.

Curve Finance proposed the complete removal of TUSD from the crvUSD ecosystem after the US SEC charged TrueCoin with investor fraud. In addition, the DEX proposed reducing the overreliance on PayPal's pyUSD as collateral.

The proposal suggests reducing TUSD's collateral backing to zero, effectively ending its support for crvUSD if approved.

TL;DR Proposal to Remove TUSD: Curve Finance is considering removing TrueUSD (TUSD) from crvUSD's collateral due to regulatory issues and concerns about TUSD's stability. Limiting PYUSD: The proposal also suggests reducing the minting capacity of crvUSD with PayPal's PYUSD from $15 million to $5 million to diversify and secure the collateral portfolio.

Curve Finance's potential removal of TUSD as collateral underscores the DeFi sector's need for robust risk management and regulatory adaptability. The post Curve Finance considers dropping TrueUSD from crvUSD collateral appeared first on Crypto Briefing.

“crvUSD is overexposed to minor stablecoins, especially TUSD which has a dubious track record and has recently been charged by the SEC with defrauding investors,” the proposer wrote.

DEX Curve Finance is assessing a proposal to lessen its dependence on TUSD stablecoin after the US SEC dropped charges against issuers Truecoin and Trusttoken. The regulator alleged that the entities violated securities policies by using risky offshore funds to back 99% of TrueUSD's reserves, raising worries about the crvUSD's stability.

TrueCoin and TrustToken, the companies responsible for the TrueUSD (TUSD) stablecoin, have reached a settlement with the Securities and Exchange Commission (SEC) following allegations of misconduct.

Curve Finance is evaluating a proposal to reduce its reliance on the stablecoin TUSD following the resolution of U.S. Securities and Exchange Commission (SEC) charges against Trusttoken Inc. and Truecoin LLC, the companies behind the dollar-pegged token.

The regulator alleged TUSD was 99% backed by a risky offshore fund, raising concerns about using TUSD to back Curve's stablecoin.

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TL;DR Fraudulent Claims: TrustToken and TrueCoin falsely marketed TrueUSD (TUSD) as fully backed by U.S. dollars while investing in a risky offshore fund. SEC Settlement: Both companies agreed to pay $163,766 each in civil penalties, with TrueCoin also paying $340,930 in disgorgement and $31,538 in interest.

US SEC and crypto firms TrueToken and TrueCoin have arrived at an agreement to settle charges. The two companies faced charges from the regulator regarding the issuance of stablecoin TUSD.

The firms behind TrueUSD, a USD-pegged stablecoin, have been charged by the U.S. Securities and Exchange Commission.

The US Securities and Exchange Commission (SEC) has settled with TrueCoin and TrustToken, the companies behind TrueUSD stablecoin, for $700,000.

The U.S. Securities and Exchange Commission (SEC) announced settled charges against crypto companies Trusttoken Inc. and Truecoin LLC. The charges allege fraudulent misrepresentations and unregistered sales of investment contracts related to the stablecoin trueusd (TUSD). U.S.

On Tuesday, the Securities and Exchange Commission (SEC) disclosed that TrueCoin LLC and TrustToken Inc., the parties behind the TrueUSD (TUSD) stablecoin, improperly invested nearly all their reserves in a speculative offshore fund. This revelation led to a settlement of charges against the companies for fraudulent and unregistered sales of investment contracts.

The US Securities and Exchange Commission (SEC) has charged TrueCoin and TrustToken with fraudulent and unregistered sales of investment contracts involving the TrueUSD (TUSD) stablecoin, and lying about its backing, according to a Sept. 24 statement.

In a significant development in the cryptocurrency regulatory landscape, TrueCoin LLC and TrustToken Inc., the companies behind the TrueUSD (TUSD), have reached a settlement with the United States Securities and Exchange Commission (SEC) over allegations of fraud and unregistered sales of investment contracts.

The securities regulator claims the token is undercollateralized and its backing funds are in a risky overseas investment.

The U.S. SEC said it reached a settlement with TrueCoin LLC and TrustToken Inc., following charges involving the sale of stablecoin TrueUSD.

The US Securities and Exchange Commission (SEC) has announced charges settlement with TrustToken, the issuer of the TrueUSD stablecoin. TrustToken and TrueCoin were both named in the settlement as the markets regulator said they offer unregistered securities to investors.

The Securities and Exchange Commission announced a settlement with TrustToken and TrueCoin for defrauding investors regarding TrueUSD.

TrueCoin LLC and TrustToken Inc. were charged with fraudulent and unregistered sales of investment contracts over TrueUSD.

Binance Margin will delist TUSD from Cross and Isolated Margin pairs on July 24, 2024, affecting BTC/TUSD and TUSD/USDT pairs.

Binance announces updates to its zero-fee trading structure for TUSD spot and margin trading pairs, effective from July 16, 2024.

Cloud-based multi-asset platform Uphold has begun notifying some of its customers about its decision to suspend support for Tether's USDT, and Gemini's GUSD among other stablecoins.

Binance, the world's largest cryptocurrency exchange, announced the delisting of several spot trading pairs due to poor liquidity and trading volume. This decision is part of Binance's periodic review process aimed at maintaining a high-quality trading environment for its users.

The TrueUSD stablecoin is natively available on four chains – Ethereum, BSC, Tron, and Avalanche – with all others available in wrapped versions.

Stablecoin TrueUSD (TUSD) affiliated with Justin Sun lost nearly 80% in market capitalization after crypto exchange Binance removed several trading pairs with it. TrueUSD (TUSD), a stablecoin issued by the TrustToken platform, which currently operates as Archblock, declined by 78.

The announcement by Binance to stop supporting XRP could have some negative sentiment on the coin as various speculations about the possible reasons are expected to start flying.

Binance, the top cryptocurrency exchange, has made waves by announcing the end of supporting XRP, adding an unexpected twist to the market narrative. Despite this, the XRP price has shown a slight recovery, reflecting the resilience of investors amid these developments.

Binance Futures discontinues support for XRP and TUSD as margin assets in the Multi-Assets Mode from 2024-05-28 06:00 (UTC).

Over the past week, the stablecoin trueusd (TUSD) experienced a notable decrease in its supply. As of March 19, 2024, the circulation was approximately 1.1 billion TUSD, which then plummeted to just 612 million.

The exchange, renowned for its commitment to user safety and maintaining a secure platform, disclosed its plans on March 13, 2024, indicating the removal of COMP/TUSD, EDU/TUSD, and PENDLE/TUSD pairs, alongside BNB pairs with Arpa and EduCoin. These changes are scheduled to take effect on March 15, 2024, at 3:00 am UTC.

Binance plans to delist several TrueUSD (TUSD) spot trading pairs.

Binance announces the delisting of several TrueUSD trading pairs, including COMP/TUSD, EDU/TUSD, and PENDLE/TUSD, as part of its efforts to maintain a high-quality trading environment. TrueUSD will still be available for trading on other pairs on the exchange.

Binance, one of the world's leading cryptocurrency exchanges, has unveiled plans to delist multiple TrueUSD (TUSD) trading pairs, citing reasons related to market quality and user protection. Delisting announcement In an official notice released on March 13, 2024, Binance disclosed its decision to remove several TUSD trading pairs from its platform.

Binance has announced the upcoming cessation of trading for several stablecoin spot trading pairs associated with Justin Sun-linked stablecoin TrueUSD (TUSD). The paris include COMP/TUSD, EDU/TUSD, and PENDLE/TUSD.

Binance will delist the COMP/TUSD, EDU/TUSD and PENDLE/TUSD trading pairs on March 15 at 03:00 UTC.

Binance, the largest cryptocurrency exchange, has announced the removal of several spot trading pairs as part of its ongoing efforts to ensure user protection and maintain market quality. The delisting affects spot trading pairs concerning Binance Coin (BNB) and Justin Sun's TrueUSD (TUSD) as quote currencies.

Crypto exchange HTX, previously known as Huobi, has unexpectedly deactivated its proof-of-reserves feature.

HTX turned off proof of reserves while TUSD, linked to HTX stakeholder Sun, loses dollar peg raising collateralization concerns

Market analysis reveals ongoing stability challenges for the stablecoin trueusd in maintaining its targeted $1 peg. As of 10:30 a.m. Eastern Time (ET) on Jan. 25, 2024, the token's trading value fluctuated between $0.979 and $0.981. Concurrently, the Aave-developed stablecoin GHO has seen a rise to the $0.