The Securities and Exchange Commission on Wednesday announced a settlement with Florida-based TradeStation Crypto, Inc., over charges related to the unregistered offer and sale of a crypto asset lending product. The company agreed to pay a $1.5-million penalty to resolve the allegations.
What Happened: The SEC’s investigation found that starting in August 2020, TradeStation Crypto offered a lending product that promised interest payments to U.S. investors who deposited or purchased crypto assets in a TradeStation account.
The company marketed this product as an opportunity for investors to earn interest on their crypto assets, with TradeStation having full control over the use of …