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 operating its ICO with out going via the correct authorized channels, based mostly on a Sept. 15 assertion from the regulating physique. The fee claims Unikrn provided an unregistered funding alternative.
“Unikrn agreed to settle the fees by paying a $6.1 million penalty, considerably the entire firm’s belongings, to be distributed to buyers via a Honest Fund,” the assertion stated.
Unikrn made headlines again in 2017 when Dallas Mavericks proprietor Mark Cuban invested within the undertaking.