{"id":17772,"date":"2019-10-01T14:35:19","date_gmt":"2019-10-01T12:35:19","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=17772"},"modified":"2023-08-29T10:06:58","modified_gmt":"2023-08-29T10:06:58","slug":"eos-the-sale-of-eos-tokens-in-the-us-makes-block-one-company-pay-24m-to-sec","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/eos-the-sale-of-eos-tokens-in-the-us-makes-block-one-company-pay-24m-to-sec\/","title":{"rendered":"[EOS] – The sale of EOS tokens in the US makes Block.one company pay $24M to SEC"},"content":{"rendered":"
EOS\u2019s parent company Block.one has agreed<\/a><\/strong> to settle with the US Securities and Exchange Commission (SEC)<\/strong> over the sale of unregistered securities of EOS tokens. Block.one<\/strong> conducted the EOS ICO, at the time compliant with the ERC-20 tokens standards between June 2017 and June 2018 raising a little over $4.1 billion, the largest any company has ever raised in a blockchain crowdsale. According to an SEC press release<\/a><\/strong> on Monday, Block.one agreed to pay a civil penalty fine of $24 million for their crowdsale.<\/span><\/p>\n Stephanie Avakian<\/strong>, Co-Director of the SEC\u2019s Division of Enforcement said that Block.one had to register to sell the tokens as these were sold to a section of US investors. According to Avakian, <\/span><\/p>\n \u201cCompanies that offer or sell securities to US investors must comply with the securities laws, irrespective of the industry they operate in or the labels they place on the investment products they offer.\u201d<\/em> <\/span><\/p>\n Not just that but Block.one has operations both in the United States (in Virginia) and Hong Kong.<\/span><\/p>\n