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News Explorer — Quantstamp Settles With SEC for $3.4 Million Over Unregistered ICO
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Quantstamp Settles With SEC for $3.4 Million Over Unregistered ICO
A blockchain security company, Quantstamp, has agreed to pay approximately $3.4 million to settle charges by the Securities and Exchange Commission (SEC) for conducting an unregistered initial coin offering (ICO). The SEC accused Quantstamp of raising around $28.35 million through the sale of its QSP token to over 5,000 investors in 2019. The company settled without admitting or denying the charges and the SEC established a fair fund to return the money to investors.
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