U.S. Securities and Exchange Commission building in Washington, D.C.
The agency said the San Jose cryptocurrency firm led an unregistered initial coin offering of its Consumer Activity Tokens.
May 28, 2020 at 05:17 PM
1 minute read
The original version of this story was published on The Recorder
Financial technology company BitClave PTE. has agreed to pay $25.5 million to settle charges brought by the U.S. Securities and Exchange Commission claiming it violated federal securities laws with its digital asset, Consumer Activity Tokens.
The settlement offers another benchmark for penalties that cryptocurrency companies might face if their offerings fall within the SEC’s hazy classification for digital securities.
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