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US SEC Issues Cease and Desist Against ICORating.com

Published 08/21/2019, 06:38 AM
Updated 08/21/2019, 07:41 AM
 US SEC Issues Cease and Desist Against ICORating.com

US SEC Issues Cease and Desist Against ICORating.com

The US Securities and Exchange Commission once again went after the ICO sector, this time by targeting aggregator and review site ICORating.com. The site used an unofficial rated system to estimate the potential of token-based startups, and according to the SEC, never registered for its role. The procedure also requires the company to pay a series of fines, including disgorgement of $100,572, prejudgment interest of $6,426, and civil money penalty of $162,000.

ICORating operated between December 2017, the peak of the bull market, and July 2018, when the ICO sector slowed down significantly. During that time, not all ICOs were permitted to operate on the US market. Still, the SEC noted that most of the traffic of the I...

This article appeared first on Cryptovest

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