ICOs – Airfox and Paragon Coin Settle SEC Charges

ICO Issuers CarrierEQ (Airfox) and Paragon Coin Inc. reportedly agree to Register Tokens as Securities  According to a press announcement on November 16, 2018, the Securities and Exchange Commission announced that it has reportedly settled charges against two companies, CarrierEQ Inc. (Airfox) and Paragon Coin Inc., that allegedly sold digital tokens in initial coin offerings (ICOs). These are reportedly the SEC’s first cases imposing civil penalties solely for ICO securities offering registration violations.  Both companies have purportedly agreed to return funds to harmed investors, register the tokens as securities, file periodic reports with the Commission, and pay penalties. Both CarrierEQ Inc. (Airfox) and Paragon Coin Inc. allegedly conducted ICOs in 2017 after the SEC warned that ICOs can be securities offerings in its DAO Report of Investigation, according to the regulator’s orders. According to the complaint, Airfox, based in Boston,…

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