The US top regulator has stepped in to stop yet another “initial coin offering” (ICO) after its operators failed to register their tokens as a security. The principals of eSports gaming and gambling platform Unikrn have agreed to settle charges brought by the US Securities and Exchange Commission (SEC), which found that their conduct was that of unregistered broker-dealers.
Unikrn is Washington-based company that was created in 2017 to offer a blockchain marketplace for bettors, esports fans and gamers.
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As explained in the order, the company raised $31 million through an ICO that sold its UnikoinGold (UKG) tokens to help further develop additional applications on the gaming platform.