October 20, 2020

Block.one will pay a fine of $ 24 million for unregistered ICO of the EOS project

Block.one will pay a fine of $ 24 million for unregistered ICO of the EOS project

On Monday, the US Securities and Exchange Commission (SEC) announced the settlement of charges against Block company.one for conducting an unregistered initial coin offering (ICO). For violation of the company will have to pay a fine of $ 24 million. Block.one is a developer company of the EOS blockchain project. In 2017-2018, Block.one conducted an ICO, during which it raised $ 4.1 billion.

The regulator said that Block.one did not register an ICO as a securities offer, while a number of US investors took part in it. Thus, Block.one violated the laws on securities, for which he was fined.

Soon, the following statement appeared on Block.one:

We will be happy to work with the SEC and other regulators and policy makers as the world becomes clearer about digital asset matching mechanisms.