- The US SEC has charged DeFi project and two Florida residents for allegedly offering and selling over $30 million fraudulent unregistered securities.
- This marks the first SEC securities case involving DeFi projects.
The US Securities and Exchange Commission (SEC) has charged Blockchain Credit Partners over alleged offering and selling of $30 million unregistered securities.
Besides, this represents the first SEC securities case that involves DeFi-based technology. However, not DeFi technologies alone, but the SEC also charged several different companies alongside. To mention a few, the SEC said that it charged blockchain Credit Partners and the DeFi Money Market.
SEC Enforcement Division’s Complex Financial Instruments Unit chief Daniel Michael said,
The federal securities laws apply with equal force to age-old frauds wrapped in today’s latest technology.
In addition, the US SEC charge decision also involved a few other