SEC Crypto Fine Draws Rare Dissent From Commissioner
Law360 (September 15, 2020, 9:45 PM EDT) -- A commissioner of the U.S. Securities and Exchange Commission on Tuesday offered a rare dissent to an agency enforcement action and $6.1 million fine against an online esports gaming and gambling platform over its allegedly unregistered initial coin offering.
Commissioner Hester Peirce, whose favorable views toward cryptocurrency and digital assets have earned her the nickname "Crypto Mom," said the penalty against platform operator Unikrn Inc. will deplete "substantially all" of the Seattle-based company's assets, and all because Unikrn conducted an allegedly improper offering in 2017 of supposed securities.
Unikrn was never accused of committing fraud, said Peirce, who decried the fact...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!