The frequency of ICO-related enforcement actions has been increasing in the U.S.
Kik technical advisor Tanner Philp must sit for another deposition in the company’s ongoing legal fight with the SEC over its 2017 token sale, a federal judge ruled Wednesday.
Newly released transcripts of the SEC’s depositions of Telegram executives offer a rare window into the logic and the mechanics behind its $1.7 billion token sale.
Messaging app firm Telegram has made a new plea to a U.S. court to drop an action brought by the SEC alleging its token is a security.
Upon completion of its investigation, and as reflected in the settled order, the SEC concluded that because Siafunds were securities, the failure to register the 2014 offering and 2015 conversion constituted violations of Section 5 of the Securities Act of 1933. Without admitting to or denying the SEC’s allegations, Nebulous agreed to a settlement and will pay disgorgement of $120,000, prejudgment interest of $24,601.85, and a civil money penalty of $80,000, for a total of approximately $225,000.