Crypto Trading Firm Cumberland Says SEC Plans to Drop Lawsuit

7 months ago 51

Cumberland DRW has announced that the Securities and Exchange Commission agreed to dismiss its lawsuit against the firm.

Writing on X on Tuesday, the Chicago-based crypto trading firm said the case will be scrapped pending final SEC approval.

Today we signed a joint filing to be made with the Securities and Exchange Commission (SEC) dismissing its case against Cumberland DRW. The filing was agreed in principle between Cumberland DRW and SEC staff on February 20 and is currently pending Commission approval. As a firm…

— Cumberland (@CumberlandSays) March 4, 2025

The SEC last year sued Cumberland for various securities charges, alleging the firm operated as an unregistered dealer in handling more than $2 billion worth of cryptocurrencies. The SEC named assets like Solana and Polygon in the complaint.

This is a breaking news story and will be updated.