Ripple is not the only crypto company sued by the SEC in recent years, here are some of the others
Earlier this week, the Securities and Exchange Commission formally filed a legal lawsuit against Ripple. However, this is not the only name that the SEC has kept an eye on in recent years. Besides Ripple, there are still many other names.
SEC accused Ripple of issuing unregistered securities as XRP and that there were many other victims
Over the past few years, including 2020, the regulator has accused other companies and individuals from the crypto industry, including crypto giants and influencers. to cryptocurrencies.
First, on September 30, 2019, the SEC released a note stating that the EOS founder, Block. One agreed to pay a fee on the SEC fee. The commission has charged Block.One with a crime similar to Ripple – fundraising by selling unregistered securities and raising billions of US dollars.
A total fine of 0.58% of that amount raised during an ICO in 2017: $ 24 million. In response, Block.One agrees to pay the penalty, without admitting the allegation or denying it. However, the company’s press release mentioned that ERC-20 tokens are no longer in circulation (after EOS switched to its own mainnet from Ethereum in mid-2018) and that they have nothing to subscribe to. confidential with the SEC.
And most recently, on October 5, 2020, the SEC accused crypto tycoon John McAfee of advertising crypto services on Twitter for the past few years. According to data from the SEC, McAfee made more than $ 23.1 million in ICO recommendations on his Twitter page.
Currently, McAfee is awaiting a ruling by a court in a Spanish prison on whether he will be extradited to the US. He was charged with not paying taxes to the American IRS.
We are waiting for a decision from the judge’s regarding @officialmcafee‘s hearing yesterday. An opinion should be made within 10 days. John is not doing well but hopefully there will be no further delays getting him proper medical care.#FreeJohnMcAfee#FreeMcAfee
— Janice McAfee (@theemrsmcafee) December 15, 2020
McAfee has avoided paying taxes for the past few years. Currently, according to the tweet from his wife, Janice McAfee, John is having health problems in prison. However, he has yet to receive medical assistance despite his constant request from his wife.
In addition to the two celebrities above, it was recently announced that cryptocurrency platform Kik settled a lawsuit initiated by the SEC in 2019 by paying a $ 5 million fine. The regulator has admitted that the KIN native token is an asset, not security. The Kik team sent a message to Ripple on Twitter, expressing sympathy with the latest company the SEC sued.
We can understand your feelings now @bgarlinghouse. #KIK was sued by the #SEC for allegedly conducting an ICO in 2017 while being a security. However, now that this is resolved, $KIN is the only asset besides #Eth & #Bitcoin that is classified as a non-security by #SEC & #Judge.
— Kin Digital Money (@kindigitalmoney) December 22, 2020
Also in it, Tron founder Justin Sun expressed his support for Ripple. Probably because TRX is also one of the names in the next SEC’s sights.
Read more:
- XRP Price Up 25% After SEC Has A New Boss
- MoneyGram Has Yet To See The Impact On Its Business Arrangement With Ripple From SEC Lawsuit Against The Company