21/08/19 07:00 UTC-4

Russian ICO company was fined almost $269 thousand

ICO, ІРО, STORussian ICO company fined nearly $269,000
Russian ICO company fined nearly $269,000

Yesterday, on August 20, a Russian ICOICO
(Initial Coin Offerings) is an acronym, which means a primary currency offer. Details
company, ICORating, was fined nearly $269,000. According to information from the Securities and Exchange Commission (SEC), the company agreed to pay the fine but did not comment on the incident.

 

The SEC fined ICORating

As stated on the official website of the Securities and Exchange Commission, the Russian company, ICORating, has to pay about $269,000. The company was accused of keeping the investors unaware of the profitability of the projects they were investing in, as the report states.

Interesting in the section: Financial geography. Cryptocurrencies in Poland

According to information on the site, in the period from December 2017 to July 2018, representatives of ICORating did not inform their investors of the profitability of the projects. At the same time, the Commission considers the lion’s share of these ICO projects as securities, as they are fully in line with this definition, as per the legal norms. In response to the allegations, ICORating agreed to pay the fine and did not comment on the current situation.

Russia's ICO company was fined nearly $269,000. We remind that on August 19, it became known that more than 97% of all South Korean cryptocurrency exchanges are on the verge of bankruptcy.

Editor: Yulia Krasnaya

See also: "Cryptocurrency ICOs raised more than $2 billion in 2019"

#ICO #Russia #fine #ICORating #SEC #cryptocurrency #tokens

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