The ICO raised the equivalent of several billion dollars from June 2017 to June 2018. The US Securities and Exchange Commission said that Block.one, 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. Block.one did not admit or deny wrongdoing in agreeing to settle, the SEC said.
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