After slapping Block.one with a $24 million penalty in 2019 for its $4 billion initial coin offering of EOS and then nipping the $1.2 billion Telegram ICO in the bud in 2020, the Securities and Exchange Commission has gone back to picking off smaller projects that are on life support.
The agency today charged Loci Inc. and CEO John Wise with fraud and conducting an unregistered securities sale of LOCIcoin in 2017 and 2018. Loci and Wise have settled the charges and, according to the SEC, agreed to destroy their tokens, remove them from exchanges, and never offer digital asset securities again. They must also pay $7.6 million—the value of the Ethereum tokens they received for the sale—as a civil penalty.
SEC Crypto Crackdowns Top $1.7 Billion in Penalties: Report
Loci positioned itself as a “platform for IP discovery, creation, and exchange.” The LOCIcoin token, which runs on the Ethereum blockchain, was purportedly to be used for subscribing to and bidding on intellectual property
Źródło: https://decrypt.co/74213/sec-is-still-going-after-those-2017-ethereum-token-icos
