FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst/File Photo

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Tuesday that it has fined and settled charges against a Russia-based ratings firm for failure to disclose payments it received to publicize digital asset offerings of issuers it had rated.

The regulator said that ICO Rating had not admitted or denied the SEC’s charges but had agreed to pay a nearly $269,000 fine for the so-called “anti-touting” violations committed between December 2017 and July 2018.

The firm also agreed not to break those rules in the future, the SEC said.

ICO Rating did not immediately respond to requests for comment.

The SEC has previously issued specific warnings about the promotion of cryptocurrency online fundraisers known as initial coin offerings (ICOs).

It is aiming to crack down on the array of ‘ICO agencies’ that offer crypto issuers active followers…

Click to continue reading on its source location…

Source: http://feeds.reuters.com/~r/reuters/businessNews/~3/Cp1IZQZWAGs/sec-fines-russian-firm-for-failing-to-disclose-paid-for-ico-reviews-idUSKCN1VA2A1