The SEC is apparently going easy on ICOs who are cooperating, paying a fine, and returning the raised money to investors.
A Litany of Settlements
The US Securities and Exchange Commission (SEC) is reaching settlements with cryptocurrency Initial Coin Offering (ICO) projects that accept the Commission’s ruling on violating securities regulations.
Fortune reports that the SEC has reached settlement deals with some ICO projects in the U.S. for offering tokens deemed to be securities by the Commission. According to the report, some projects even got off lightly, without having to pay a fine.
Speaking to Fortune, Victor Santos of Airfox, one of the ICO projects fined by the SEC opined:
What we’re hoping for is by us being compliant, we’ll be ready when new regulation comes out.
As previously reported by Bitcoinist, the SEC fined Airfox about $250,000 and instructed the company to return investor funds with interest. The Commission also advised the company to follow the due process of carrying out a securities offering to…