Description

SEC charges Digital Currency Group and former CEO Soichoro "Michael" Moro with a $38.5 million penalty for investor deception related to misleading statements about financial condition following Three Arrows Capital default. Enforcement reveals deliberate misrepresentation, accusing Moro of false social media statements. SEC settlement includes cease-and-desist order, with DCG paying $38 million and Moro $500,000 in civil penalties. The action underscores SEC's commitment to investor protection and transparency in the cryptocurrency industry.The U.S. Securities and Exchange Commission (SEC) has leveled substantial charges against Digital Currency Group (DCG) and its former Genesis Global Capital CEO, Soichoro "Michael" Moro, imposing a combined