TradeStation to pay $3 million to settle costs from SEC, states over unregistered crypto product

(Reuters) – Cryptocurrency platform TradeStation Crypto pays $3 million to settle costs from the U.S. securities regulator and a number of states that it provided and offered unregistered securities by way of an interest-earning program.

TradeStation didn’t register its crypto lending product that allowed U.S. traders to deposit or buy property on TradeStation’s platform in change for yield, the Securities and Change Fee mentioned. The product was provided to clients starting in 2020 and was shut down in 2022.