SEC sues ICOBox for illegal token sale case, which incurs $ 16 million fine

The District Court for the Central District of California has approved the US Securities and Exchange Commission's motion for a default judgment on ICOBox and its founder Nikolay Evdokimov. The SEC has accused the defendant of illegally issuing $ 14 million in ICOBox digital tokens and acting as an unregistered broker for other digital asset issuances. The court ruled in its latest ruling that ICOBox and Evdokimov should be fined more than $ 16 million.