SEC Says Health Care Blockchain Co. Didn't Register Tokens
Law360 (August 13, 2019, 4:00 PM EDT) -- The U.S. Securities and Exchange Commission issued a cease-and-desist order Monday that says health care blockchain company SimplyVital Health Inc. failed to register its digital tokens in a presale.
SimplyVital consented to the order's entry without admitting or denying allegations that its late 2017 presale of tokens — known as Health Cash, or HLTH — violated registration requirements. Because SimplyVital has already returned "substantially all" of the $6.3 million it raised in the presale, the SEC agreed to order only that SimplyVital refrain from further securities violations.
"In determining to accept the offer, and to not impose a civil penalty, the...
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