The SEC has sued Chicago Crypto Capital on the grounds of unregistered securities offering.
The US Securities and Exchange Commission (SEC) targeted another company for making unregistered securities offerings.
SEC Keeps Putting Pressure on Crypto Companies
The SEC has moved to void the $1.5 million ICO (initial coin offering) for Chicago Crypto Capital’s BXY tokens. The regulator has requested that all investor funds be returned.
According to the regulator’s claim, Chicago Crypto Capital describes itself as a consulting firm created to explore the new world of decentralized finance. However, the firm worked as a broker for BXY tokens.
Launched in September 2019, BXY is currently worth less than a thousandth of a dollar after making ATH of $0.02.
The regulator continues to track ICOs that exploded in 2017-2018. Gary Gensler emphasizes at every opportunity that token issuers must register with the regulator.
Gensler said in a statement today that many of the existing cryptocurrencies are unregistered securities. Emphasizing that Bitcoin is a commodity, Gensler continued not to make a definite comment about Ethereum.
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