Block.one agrees to pay a $24 million civil penalty to resolve the SEC’s allegation that it is conducting an unregistered ICO

According to the SEC's official website, on September 30, the US Securities and Exchange Commission announced a settlement of blockchain company Block.one. The SEC has previously accused it of making an unregistered digital token (ICO) for the first time, raising billions of dollars in funding in about a year. Currently, the company agreed to reach a settlement with the SEC by paying a $24 million civil penalty. According to the SEC, Block.one's ICO, which was conducted between June 2017 and June 2018, was not registered under the US Federal Securities Act and was suspected of violating the rules.