SEC Charges Crypto Companies TrustToken and TrueCoin With Defrauding Investors Regarding Stablecoin Investment Program: SEC

According to the SEC’s complaint, filed in U.S. District Court for the Northern District of California, TrueCoin was an issuer of TUSD and TrustToken was the developer and operator of TrueFi, a so-called lending protocol. The SEC’s complaint alleges that from November 2020 until April 2023, TrueCoin and TrustToken engaged in the unregistered offer and sale of investment contracts in the form of the crypto asset TUSD and profit-making opportunities with respect to TrueUSD on TrueFi.