SEC Alleges Consensys Violated Exchange Act in Brokerage of Crypto Securities
by SEC vs. the WorldJuly 10th, 2024
Too Long; Didn't Read
The SEC accuses Consensys of violating Exchange Act Section 15(a) by operating as an unregistered broker in transactions involving crypto securities. This enforcement action highlights regulatory scrutiny over brokerage activities within the crypto industry.
SEC v. Consensys Software Inc. Court Filing, retrieved on June 28, 2024, is part of HackerNoon’s Legal PDF Series. You can jump to any part in this filing here. This part is 23 of 26.
FIRST CLAIM FOR RELIEF - Violation of Exchange Act Section 15(a)
329. The Commission re-alleges and incorporates by reference here the allegations in paragraphs 1 through 329.
330. By engaging in the acts and conduct described in this Complaint, Consensys, a person other than a natural person under the Exchange Act, is a broker and made use of the mails and the means and instrumentalities of interstate commerce to effect transactions in, or to induce or attempt to induce the purchase or sale of, securities for the account of others, without registering as a broker, and without having an exemption or exception from such registration.
331. By reason of the foregoing, Consensys violated, and, unless enjoined, will continue to violate Exchange Act Section 15(a) [15 U.S.C. § 78o(a)].
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