The SEC recently reached a $24 million settlement with for its unregistered offering of over $4 billion worth of EOS tokens. The Crowdfunder Insider news site reached out to Rimon partner Dror Futter for comment on this unusual development.

“This seems to place EOS in the same category as Ether, a token that likely was a security at birth and, but having been “born,” has now morphed into a non-security through decentralization,” said Futter. “Otherwise, the absence of a rescission requirement and the lack of any restrictions on the tokens would be difficult to understand. The amount of the fine may reflect the fact that of the billion or so raised, US purchasers may have made up a small amount of the purchased tokens – but this is speculation and not addressed by the SEC.”

See the full article here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.