EOS Maker Block.One Settles With SEC Over Unregistered Securities Sale

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EOS maker Block.One must pay $24 million in penalties for conducting an unregistered securities sale, the U.S. Securities and Exchange Commission (SEC) announced Monday evening.Notably, the press release highlighted that block.One’s token sale began shortly before the SEC released its Dao report but “continued for nearly a year after the report’s publication.” The company did not secure an exemption from securities registration requirements and did not otherwise register the sale, the SEC said.More significantly, Block.One’s statement said that its ERC-20 token is no longer in circulation “and will not require the token to be registered as a security with the SEC.”    Read more
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