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
-
News BriefDOJ clears $4.4 Billion T‑Mobile acquisition of UScellular
The U.S. Department of Justice arppoved T-Mobile’s acquisition of competitor UScellular. The move came a day after T-Mobile announced it had dropped its diversity, equity, and inclusion programs, a frequent target for Trump’s administration.
-
News BriefFlorida alleges that Robinhood Crypto’s fee disclosures are inaccurate
The state of Florida is investigating Robinhood Crypto for falsely claiming it charges the lowest fees for processing crypto transactions.
-
News BriefCVS hit with nearly $1 billion fine in Omnicare false claims verdict
CVS has vowed to appeal $948.8 million in fines and damages imposed by a judge Tuesday on its Omnicare unit, for billing Medicare for tens of thousands of false claims.