© Reuters. FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo
(Reuters) – Cryptocurrency platform TradeStation Crypto will pay $3 million to settle charges from the U.S. securities regulator and a number of states that it provided and offered unregistered securities by means of an interest-earning program.
TradeStation failed to register its crypto lending product that allowed U.S. traders to deposit or buy belongings on TradeStation’s platform in alternate for yield, the Securities and Exchange Commission mentioned. The product was provided to prospects starting in 2020 and was shut down in 2022.