The SEC order also included creating a Fair Fund to distribute the monies paid by BitClave to investors harmed by its unregistered ICO.
Additionally, the Commission ordered the blockchain services company to transfer all remaining CAT in its control to the fund administrator for permanent disabling; publish notice of the SEC order, and request the removal of CAT from all digital asset trading platforms.
In a statement, SEC Enforcement Division’s Cyber Unit Chief Kristina Littman said, “Issuers of securities, traditional or digital, must comply with the registration requirements of the federal securities laws. The remedies ordered by the Commission will provide meaningful relief to investors in this unregistered offering.”
