News to pay USD 24 million fine for unregistered ICO

Tuesday 1 October 2019 10:18 CET | News has agreed to pay a USD 24 million civil fine to settle US regulatory charges that the blockchain company conducted an unregistered initial coin offering.

The ICO raised the equivalent of several billion dollars from June 2017 to June 2018. The US Securities and Exchange Commission said that, which operates in Blacksburg, Virginia, and Hong Kong, did not properly register its 900 million-token offering, or seek an exemption from registration.

It added that this deprived investors of material information needed to make informed decisions. did not admit or deny wrongdoing in agreeing to settle, the SEC said.

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Keywords: ICO, tokens, fine, SEC, blockchain, cryptocurrency, US,
Countries: World

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