According to SEC, many ICOs listed on Coinschedule.com appear in its DAO Report published in 2017, warning that: “coins sold in ICOs may be securities and that those who offer and sell securities in the U.S. must comply with federal securities laws.” SEC revealed that Blotics has agreed to cease and desist from future violations and to pay $43,000 in disgorgement and a fine of $154,434.
Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit, said:
Source LinkedIn
As the SEC’s order finds, Coinschedule presented potential investors with seemingly independent profiles about token offerings when in fact they were bought and paid for by token issuers. The securities law prohibiting touting securities for compensation without appropriate disclosures to investors is clear and longstanding.
Last month, SEC revealed that it has settled its charges against CEO John Wise and his company Loci Inc. following accusations that the entity had made materially misleading and false statements regarding a sale and offer of digital asset securities that were later found to be unregistered.
