SEC (US) Enforces Against 2 ICOs

Source: TheBlockCrypto.com, Nov 2018

<official SEC announcement: LINK>

  • Cease-and-desist orders were entered under the Securities Act of 1933 against Paragon and CarrierEQ Inc. (Airfox)
  • The SEC has developed or appears to be developing a template for ICO enforcement
  • The SEC made it clear that tokens that fit within the Howey Test rubric are actually securities
  • It appears that the volume of enforcement actions by the SEC is set to increase

Source: “https://twitter.com/stephendpalley/status/1063457944757592064&#8221;

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