The SEC has charged TrueCoin and TrustToken for operating a fraudulent stablecoin investment program and an unregistered securities offering. 🚨

The court ordered the companies to pay a fine of $700,000. The SEC claims that TrueUSD was not fully backed by US dollars as claimed, and the funds were invested in risky investments.

Some crypto projects, such as Curve Finance, are considering removing TUSD from their list of tokens.