Another Technology Company Settles SEC Charges Over ICO Violations

Blockchain of Things (“BCOT”), a technology company, has agreed to settle charges with the Securities and Exchange Commission (“SEC”) for conducting an initial coin offering (ICO) without registering it as a securities offering or qualifying for any registration exemptions.  The settlement requires BCOT to agree to a cease and desist order, pay a $250,000 civil fine, return funds to any investors who file a request, and register the tokens as securities.

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Unregistered ICO: The SEC Brings More Charges

With the passing of every month, the investment industry sees another round of enforcements involving the mishandling of initial coin offerings (“ICOs”). The still nascent landscape of cryptocurrency investing continues to pose significant difficulties for investors, firms, and regulatory…

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