It was found that the US Securities and Exchange Commission (SEC), which has been consolidating its policy of considering many cryptographic assets as securities (security), caught companies that did the initial coin offering (ICO) unregistered to the authorities .
Gladius Network LLC raised about 12.7 million dollars in ICO implemented around the end of 2017 voluntarily proposed that in the summer of 2018 Gladius Network LLC did the ICO without consent of SEC.
Since Gladius voluntarily reported unsolicited ICOs and promised refunds to investors and registering tokens as securities, SEC decided not to impose penalties on the company .
It is the fourth company in Gladius this time that the SEC caught unclaimed ICOs in a project that is not a “Scam” project that deceives investors.
Although SEC did not give penalties to Munchee, Inc. which was the first casualty, at the end of last year it imposed a fine of 250,000 dollars on Airfox and Paragon Coin caught in similar cases I will.
Given that Gladius has escaped penalties, it can be seen that the movement of SEC this time encourages voluntary filing of companies that did not apply ICO.
Article Source: US Securities and Exchange Commission Report (English)
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Author: Yuya 【Coin Desk News】 – Source Post: https://crypto-times.jp/sec-charges-a-self-reporting-enterprise-for-unregistered-ico/
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