SEC agrees to drop lawsuit against Cumberland DRW

Odaily News Cumberland DRW, a crypto trading company, announced on the X platform that it has signed a joint application with the U.S. Securities and Exchange Commission (SEC) to withdraw the lawsuit filed by the SEC against it. The agreement was reached in principle by both parties on February 20 and is currently awaiting approval from the SEC. The SEC sued Cumberland DRW in October last year, accusing it of operating as an unregistered securities dealer and selling more than $2 billion in unregistered securities.