United States:
SEC Settles Two ICO Enforcement Actions
30 November 2018
Reed Smith
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The U.S. Securities and Exchange Commission (SEC) recently
settled two initial coin offering (ICO) enforcement actions
grounded on the sale of unregistered securities. The two
settlements, one with CarrierEQ Inc. (or AirFox) and the other with
Paragon Coin Inc., are the first time the SEC has imposed civil
penalties on companies solely for offering digital tokens in an
ICO. Notably, the settlements signal the SEC's intent to
enforce the securities laws against sellers of cryptocurrencies,
regardless of whether a seller engages in fraudulent activity. To
read more about the settlements, click
here.
This article is presented for informational purposes only
and is not intended to constitute legal advice.
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