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;

This just in from the SEC:

+ PRG token sale was an unregistered securities offering
+ PRG tokens are securities
+ Order provides detailed analysis of sale & remedial actions

tl/dr? Analysis applies to just about every token sale in the last 2 years.https://t.co/EZ8ja3EtoZ pic.twitter.com/cC3geA43Kx

— Palley (@stephendpalley) November 16, 2018

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