SEC charges crypto exchange execs for the first time over unregistered token sales
Read Time:48 Second

SEC charges crypto exchange execs for the first time over unregistered token sales

0 0

An employee wearing a protective face mask inspects Sapphire Technology Ltd. AMD graphics processing units (GPU) at the Evobits crypto farm in Cluj-Napoca, Romania, on Wednesday, Jan. 22, 2021. The worlds second-most-valuable cryptocurrency, Ethereum, rallied 75% this year, outpacing its larger rival Bitcoin | Photo by Akos Stiller / Bloomberg via Getty Images

The Securities and Exchange Commission issued its first charges against the decentralized finance industry Friday, accusing two people of illegally selling over $30 million of securities in unregistered offerings.

The SEC’s Friday order found that two executives from the Blockchain Credit Partners company used the Ethereum blockchain to sell cryptocurrencies to investors while misleading them about the company’s profitability. Specifically, investors purchased cryptocurrencies using digital assets like ether. The company then promised to pay investors over 6 percent in interest and that the funds would go toward physical investments like car loans to create additional income. The SEC determined that these “real-world” investments…

Continue reading…

About Post Author

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous post Apple says any expansion of CSAM detection outside of the US will occur on a per-country basis
Next post Today is Bandcamp Friday—put 100% of your music purchases in bands’ hands
Generated by Feedzy