SEC FIGHTING ICOS

Updated: 10/22/2018 16:31
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sec against ico
Sec fighting against fake ICOs, Simex trading suspended, learn more about the policy tightened up on projects receiving funds through ICO
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Sec fighting against fake ICOs, Simex trading suspended, learn more about the policy tightened up on projects receiving funds through ICO

The US Securities and Exchange Commission (SEC) suspended trading in securities of the American Retail Group (OTC: ARGB), also known as Simex, Inc. This is reported on the site office.

According to representatives of the regulator, the decision was caused by false statements by the company about partnership with a "qualified and approved custodian". The company also conducted an initial offer of coins (ICO), which allegedly "officially registered in accordance with the requirements of the SEC."

Also earlier this month, the American regulator recommended investors to "be vigilant when considering the possibility of investing in the ICO."

Recall recently the SEC has significantly tightened the policy on projects that received funding through ICO.

As you know, in early 2018, the SEC launched a large-scale investigation into the ICO sphere, sending a number of companies with an invitation to “talk” invitations. A few months later, the department also sent similar notifications to many other startups. The main claims of the SEC come down to the fact that these companies were not able to properly ensure that only accredited investors participate in the ICO.

As a result of conversations with more than 15 representatives of the industry, conducted by Yahoo Finance in conjunction with Decrypt Media, it turned out that several dozens of companies, not giving these circumstances to wide publicity, agreed to return the funds to investors and pay a fine. At the same time, other startups claim to be in limbo, not understanding how they can still meet the requirements of the SEC and how others solve these issues.


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