SEC charges Quantstamp over unauthorized ICO
In a clash between blockchain enterprise Quantstamp and the U.S. SEC, the murky legal waters of initial coin offerings and crypto regulations come to the forefront. Another legal skirmish has unfolded, this time involving the U.S. Securities and Exchange Commission (SEC) and a blockchain security enterprise Quantstamp. Coming on the heels of the long-anticipated ruling concerning the SEC’s allegations against Ripple, this development reinforces the precarious legal environment surrounding initial coin offerings (ICOs). You might also like: Ripple CEO questions SEC’s crypto jurisdiction as Gensler requests more funding On July 21, the SEC, the regulatory body for securities in the United States, filed charges against Quantstamp for allegedly conducting an unauthorized ICO in 2017. The company is accused of amassing over $28 million by selling QSP tokens to approximately 5,000 investors. These funds were purportedly meant to foster the creation of an Ethereum (ETH) b...