The U.S. Securities and Exchange Commission (SEC) has accused crypto companies TrustToken and TrueCoin of defrauding investors through the sale of unregistered investment contracts involving the TrueUSD (TUSD) stablecoin. The SEC alleges that the companies misrepresented the backing of TUSD and the safety of investment opportunities, placing investors at risk.
Fintech giant Revolut, known for its cryptocurrency services, is reportedly working on its own stablecoin. The move comes as the stablecoin market sees increasing interest and new entrants, with major players like PayPal and Ripple joining the scene. Revolut aims to expand its crypto offerings with a focus on safety and accessibility.
Stablecoin issuer Tether has appointed Jesse Spiro as its new Head of Government Affairs, a move that comes as the company faces increased regulatory scrutiny in the United States. Spiro, a veteran of the blockchain space, will be tasked with leading Tether’s policy and engagement efforts with lawmakers and regulators.
