Bitcoin Forum

EOS Blockchain (https://www.thecoinrepublic.com/tag/EOS/) mammoth Block.one paid a robust charge of $24 Million to The Securities and Exchange Commission (SEC) for playing out an ICO (Initial coin offering) with no enrollment with SEC. Block.one is the engineer of EOS Blockchain, the underlying coin offering was directed from 2017 to 2018 in which Block.one picked up $4.1 Million.

Stephanie Avakian from SEC’s Division of Enforcement expressed in a report that Block.one played out an unregistered ICO with the end goal of the Security offering, this move from Block.one was unregulated and against the laws of Security and Exchange Commission, on account of which Block.one respected a gigantic Penalty.

News Source: TheCoinRepublic (https://www.thecoinrepublic.com/block-one-charged-24m-by-sec-for-fraudulent-ico/)

Block.one ICO was the biggest successful fund raising ever, they are able to make double of hard cap target of 4 billion dollars so paying that charged amount of 24million won't  be a problem.

But why can't SEC takes up the duty of charging scam ICOs to face the wrath of law or try apprehending scammers in crypto space? we need this kinda solution badly

The SEC deals with with in their hands (in the USA), other than that they can do shit.
I used to blame how strict the SEC is, but since the shit load of SCAM ICOs, i salute them for being so harsh on these Fintech for not obeying the financial laws in the USA.

What happened to Block.one isn't a big deal (since they have the liquidity to pay that Penalty), but also it's great for them in the long run to be clean Vs the SEC.