The SEC agrees to withdraw the lawsuit against Cumberland DRW

ChainCatcher news, the cryptocurrency trading firm Cumberland DRW announced on platform X that it has signed a joint application with the U.S. Securities and Exchange Commission (SEC) to seek the dismissal of the lawsuit filed against it by the SEC. The agreement was reached in principle by both parties on February 20 and is currently awaiting approval from the SEC commission.

The SEC sued Cumberland DRW last October, accusing it of operating as an unregistered securities dealer and selling over $2 billion in unregistered securities.