The United States Securities and Exchange Commission (SEC) has reached a settlement with New York-based startup Blockchain of Things Inc. (BCOT) for conducting an unregistered initial coin offering (ICO).
On Dec. 18, the SEC announced in a press release that the charges were settled in the form of an order that requires BCOT to cease and desist from committing any violation of the registration provisions of the federal securities laws. The blockchain company also agreed to pay a $250,000 penalty, without admitting or denying the findings.