Shipchain ICO Investors Take To Internet To Lament Over Lost Money

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“We have made it clear that companies that issue securities through ICOs are required to comply with existing statutes and rules governing the registration of securities,” Stephanie Avakian, co-director of the SEC’s Enforcement Division said in a statement. “These cases tell those who are considering taking similar actions that we continue to be on the lookout for violations of the federal securities laws with respect to digital assets.”

Paragon, which raised $12 million in a August 2017 ICO and CarrierEQ raised $15 million in an October 2017 ICO.  Both companies are to provide refunds to investors.