America’s Securities and Exchanges Commission (SEC) has just announced settled charges against Block.one, the company behind EOS, for raising billions in an ICO in 2017 over approximately one year.
“The company agreed to settle the charges by paying a $24 million civil penalty,” SEC said.
“Block.one did not provide ICO investors the information they were entitled to as participants in a securities offering,” said Steven Peikin, Co-Director of the SEC’s Division of Enforcement.
Block.one consented to the order without admitting or denying its findings, the regulator said. They do not specify any other action against the company or EOS, so it appears they’ll just have to pay $24 million to the government for raising billions with it unclear whether SEC thinks this is still a security subject to numerous regulations.
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