Initial Coin Offering

Latest

  • Washington DC, USA - September 23, 2012: US Securities and Exchange Commission building exterior. The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government. The SEC holds primary responsibility for enforcing the federal securities laws, proposing securities rules, and regulating the securities industry, the nation's stock and options exchanges, and other activities and organizations, including the electronic securities markets in the United States.

    US court agrees with SEC that Kik's $100 million coin offering violated the law

    by 
    Mariella Moon
    Mariella Moon
    10.01.2020

    A US district judge for the Southern District of New York has agreed with the Securities and Exchange Commission’s assessment that Kik’s $100 million initial coin offering (ICO) in 2017 was a securities sale. Judge Alvin Hellerstein has granted SEC’s motion for summary judgment, ruling that Kik violated the Securities Act when it sold its tokens called “Kin” without the blessing of the SEC.

  • Vladimir Gerdo via Getty Images

    Steven Seagal settles with SEC over undisclosed bitcoin promotions

    by 
    Marc DeAngelis
    Marc DeAngelis
    02.27.2020

    It seems that martial artist and actor Steven Seagal isn't above the law. In 2017, he touted the initial coin offering (ICO) for Bitcoiin2Gen (B2G), a digital currency that sounded shady right from the start. Seagal didn't disclose the fact that he was paid by B2G to encourage his fans to buy into the bitcoin, which is required by law when a currency qualifies as a security. (B2G didn't even bother to register as a security, which resulted in the state of New Jersey issuing it a cease-and-desist order.) The actor has agreed to pay $157,000 in disgorgement plus a $157,000 penalty.