THE US SEC BROUGHT CIVIL ACTION AGAINST 38 ENCRYPTED ENTITIES

Wu stated that it had been informed that the United States Securities and Exchange Commission (SEC) had instituted civil proceedings against 38 entities for material misrepresentation in the Form ADV document submitted between 2025 and 2026, in order to package itself as a legitimate United States investment adviser and attract diaspora investors. The accused included a number of entities involved in encryption operations, including Criptoorbit, FTAExchange, Pinacle Cripto Exchange, Quantum Financial Institute, RBH Infinity Exchange. The EC has removed the relevant ERA declarations from the 38 entities mentioned above and has sought a permanent ban and civil fines。