Yesterday, Monday 30 September, la SEC (Security and Exchange Commission) has published a document ordering Block.one to pay a fine from 24 million dollars to conduct the EOS ICO.
The SEC announced today that the allegations are raised against the Block.one to be able to conduct an ICO (Initial Coin Offerings) that has raised several billion dollars in about a year. Block.one has agreed to liquidate the charges and to pay accordingly to 24 million dollars.
After the release issued by the SEC, Block.one, has decided to issue a statement in which he explains that the sanction was applied for what concerns the tokens ERC-20 that were sold at the beginning, while after the network was placed online no irregularities were committed.
As claimed by the SEC, the first ERC-20 tokens they had been sold without informing investors, and that they were mainly securities offerings, ie securities such as bonds and shares. After the first tokens have been exchanged with those of the Ethereum network, the problem no longer exists. However, before this happened, a violation was committed that resulted in the fine of 24 million dollars.
The Block.one he decided nevertheless to issue a statement, after the publication of the SEC document, stating: that they are excited to solve this problem with the SEC, and we are committed to collaborating constantly with regulatory and political authorities, while the world is developing greater clarity about the compliance of digital resources.
Sure one sanction from 24 million dollars may seem to exaggerate, but this is a figure that actually represents less than one percent of the 4 billions of dollars that had been collected by Block.one while EOS was being held.
Many think this is it a negative news for the Block.one, actually let us know that EOS (see EOS listing) will not be a security token, and for this reason the market is reacting very well, so much so that the token is 9,7% positive, thanks to the recovery of bitcoin.
The development of Block.one can therefore continue unchallenged, so much so that a few weeks ago, the company opened an innovative headquarters in Washington and promised that in the next years 170 seats will be created.
