RATE Group | SEC Imposes Multimillion Dollar Fine for Unregistered EOS Token Sale
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SEC Imposes Multimillion Dollar Fine for Unregistered EOS Token Sale

01 Oct SEC Imposes Multimillion Dollar Fine for Unregistered EOS Token Sale

Posted at 20:04h in Bitcoin News by

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SEC Imposes Multimillion Dollar Fine for Unregistered EOS Token Sale

The United States securities regulator has announced hefty fines for two crypto companies. The penalties have been imposed for EOS’ unregistered token sale and a fraudulent public offering. The Securities and Exchange Commission (SEC) intends to use some of the collected money to indemnify investors who suffered damages.

Also read: SEC Commissioner Speaks Positively About Digital Assets Despite Recent Enforcement Flurry

Block.one Fined $24 Million for Unregistered ICO

On Monday, the SEC published an announcement revealing that Block.one, a blockchain technology company, has agreed to pay a $24 million fine to settle charges against it. Block.one was accused of conducting an unregistered initial coin offering (ICO) that raised several billion dollars’ worth of digital assets over a one-year period.

SEC Imposes Multimillion Dollar Fine for Unregistered EOS Token Sale

The company, which maintains operations in the U.S. state of Virginia and Hong Kong, sold 900 million digital tokens between June 2017 and June 2018 during the…

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