The United States Securities and Exchange Commission (SEC), a primary governmental regulator, has settled charges with digital assets company Bitqyck Inc. and its founders.
The SEC announced the development in a press release on Aug. 29. According to the announcement, Bruce Bise and Sam Mendez are the founders of Bitqyck — a company that provided security offerings for digital assets Bitqy and BitqyM in Dallas, Texas. The company claimed that Bitqy tokens gave investors fractional shares of company stock via a smart contract. Additionally, Bitqyck said that BitqyM tokens would give holders interest in a cryptocurrency mining facility running on sub-market-rate electricity, per the press release.