SEC Ceases Activities for Company that Claimed to Hold ICO with Regulator’s Support
October 25, 2018
The US Securities and Exchange Commission (SEC) has halted share trade of the company which allegedly had held ICO with support of the state regulator.
Last Monday, October 22, the SEC has terminated all trading operations of American Retail Group (Simex, Inc.) that claimed this August it had partnered up with a high skill Commission advisor. The company was raising funds via ICO which allegedly was registered by the SEC.
Robert Cohen, the head of the SEC cyber crime division, said these statements to be wrong and added that the Commission provides no training for crypto advisors. He again recommended investors to stay ultimately cautious when putting up funds in ICO projects.
Note that this is the second case over a month when the SEC denies itself approving of ICO process. The first one dates back to October 11 when the head of BlockVest Reginald Buddy Ringgold faced urgent court order by the Commission after it had claimed his ICO to receive official SEC approval.