In this suit against Chicago Crypto Capital, the SEC alleges misrepresentation as well as failure to register a securities offering.
The Securities and Exchange Commission has targeted another crypto issuer over an alleged unregistered securities offering.
The SEC is trying to undue Chicago Crypto Capital's $1.5 million initial coin offering for BXY tokens, according to a September 14. The agency is seeking disgorgement, or return of all investor funds, as well as penalties. The ICO took place between August 2018 and November 2019, well after the SEC's 2017 DAO Report, which made the landmark determination that ICOs could be securities offerings.an advisory firm"created to explore the new world of decentralized finance," functioned as an unregistered broker-dealer in offering BXY to retail investors, the SEC has alleged.worth less than a thousandth of a dollar.
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