April 23, 2024

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 U.S. Securities and Exchange Commission (SEC) announced a settlement of charges againstBlock company.one for conducting an unregistered initial coin offering (ICO). For violation, the company will have to pay a fine of $24 million. Block.one is the company behind 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 look forward to working with the SEC and other regulators and policymakers as the world becomes clearer about digital asset compliance mechanisms.