Unikrn, an preliminary coin providing, or ICO, from 2017, faces motion from the U.S. Securities and Trade Commision, or SEC.
The SEC has accused the startup of working its ICO with out going by way of the correct authorized channels, based mostly on a Sept. 15 statement from the regulating physique. The fee claims Unikrn provided an unregistered funding alternative.
“Unikrn agreed to settle the costs by paying a $6.1 million penalty, considerably the entire firm’s property, to be distributed to traders by way of a Honest Fund,” the assertion stated.
Unikrn made headlines again in 2017 when Dallas Mavericks proprietor Mark Cuban invested in the project.
