Rari Capital and Co-founders Settle with SEC over Unregistered Brokerage Allegations
CryptoNewsTerminal Staff18 Sep, 2024
Rari Capital and Co-founders Settle with SEC over Unregistered Brokerage Allegations
Crypto Lending Platform Rari Capital Settles with SEC The U.S. Securities and Exchange Commission (SEC) announced a settlement with Rari Capital, a crypto lending platform, and its three co-founders for operating as an unregistered broker-dealer. According to the SEC, Rari Capital offered two investment products, the Earn Pool and the Fuse Pool, which acted like crypto investment funds and offered returns to investors for depositing crypto assets. In exchange, Rari Capital offered the RGT token as a reward, which the SEC deemed an unregistered security. Settlement Reached Rari Capital has agreed to settle the charges, which include allegations that Rari Capital offered and sold three unregistered securities. As part of the settlement, Rari Capital will pay a $300,000 penalty and register the RGT token with the SEC. The SEC's enforcement action highlights the need for crypto companies to comply with securities laws and regulations. Keywords: Crypto Lending, Rari Capital, SEC, Unregistered Securities, RGT Token
