Linus Financial settles SEC charges for failing to register crypto lending product

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By BitcoinWiki News

Key Takeaways:

– Linus Financial, a Nashville-based crypto services firm, has settled with the U.S. securities regulator for allegedly failing to register the offer and sale of its retail crypto lending product.
– The Securities and Exchange Commission announced the settlement, which focused on Linus’s crypto lending product, Linus Interest Accounts.
– The SEC decided not to impose civil penalties due to the company’s cooperation and prompt remedial actions.
– Linus Financial started offering its interest-bearing accounts in March 2020, allowing U.S. investors to exchange fiat currency for the promise of interest payments.
– The SEC order states that the Linus Interest Accounts were offered and sold as securities and required registration, which Linus Financial failed to do.
– The settlement sends a message to other market participants about the importance of cooperation and remediation.
– The Commodity Futures Trading Commission also issued a warning to operators of decentralized finance protocols, settling charges against Opyn, ZeroEx, and Deridex platforms.


Nashville-based crypto services firm, Linus Financial, has settled with the U.S. Securities and Exchange Commission (SEC) for allegedly failing to register the sale of its retail crypto lending product, the Linus Interest Accounts. The SEC order stated that the accounts were offered and sold as securities and therefore required registration. However, the agency decided not to impose civil penalties due to Linus Financial’s cooperation and prompt remedial actions. The settlement serves as a message to other market participants about the importance of cooperation and remediation.

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