The Securities Exchange Commission (SEC) has reached a settlement with companies related to the TrueUSD (TUSD) stablecoin. These companies include TrustToken and TrueCoin, which have now been restructured under Archblock. The SEC accused them of misrepresenting the reserve backing of TUSD and failing to register to issue securities related to TUSD. The California companies claimed that TUSD held one-to-one dollar reserves, but actually invested the money in high-risk offshore commodity funds. Under the settlement, TrustToken and TrueCoin will each pay a $164,000 penalty and return about $400,000 in profits and interest. The SEC pointed out that the companies were aware of the TUSD redemption issue in 2022 and conducted unregistered securities sales through its platform TrueFi. The SEC stressed that the case highlights the importance of registration to protect investors. At present, the market value of TUSD is close to 500 million US dollars, and more than 13% of TUSD funds have been used for profit opportunities on the TrueFi platform.