Blockchain company SimplyVital reached a settlement with the US SEC

On August 14th, a blockchain company focused on healthcare and the US Securities and Exchange Commission reached a settlement on its 2017 ICO project. US SEC said on Monday that the newly established SimplyVital Health, Inc. in the UK raised approximately $6.3 million through Ethereum (ETH) through pre-sale of HLTH tokens to support a healthcare-related block called HealthNexus Chain ecosystem. The SEC said that the HLTH tokens sold by the company "will not be delivered to investors unless they were created by SimplyVital." The committee finally ruled that the company violated the provisions of the Securities Act of 1933, did not register SAFT with the regulator before listing, and was not eligible for exemption registration. SimplyVital complied with the cessation order issued by the US Securities and Exchange Commission, but did not "recognize or deny the SEC's findings."