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Home Business & Finance Crypto Esports Startup Unikrn to Pay $6.1M in SEC Settlement Over 2017...

Crypto Esports Startup Unikrn to Pay $6.1M in SEC Settlement Over 2017 ICO

Document Analysis NLP IA

326
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1:37
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neutral
sentiment

Sentiment-0.076442307692308
objective
redaction

Subjectivity0.41826923076923
it's an affirmation
Affirmation0.55232558139535

Highlights

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FREQ, RAKE or TFIDF
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ORG
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Key Concepts (and relevance score)

Summary (IA Generated)

raised approximately $31 million through the UnikoinGold (UKG) token sale in violation of registration requirements.

The SEC’s press release said that while the firm promised to use its funds to add more features to the platform and develop additional applications, it failed to register the sale of said tokens, which the SEC alleges were offered as investment contracts.

The statement adds that Unikrn has agreed to settle the charges, without admitting or denying them, by paying a $6.

”.

Unikrn’s statement in response to the SEC’s charges added that the firm will continue to offer its services supported by major currencies, including fiat currencies, bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and USDC, among others.

In a related matter, the SEC said Seattle-based Unikrn has settled charges brought by the Washington State Department of Financial Institutions for violating state regulations on such offerings.


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