in Cryptocurrency

ICOBox Startup Fails to Acknowledge US SEC Action, Owes $16M

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The U.S. Securities and Exchange Commission, or SEC, has ordered that ICO broker ICOBox must pay $16 million after the startup failed to act on previous legal action from the commission.

U.S. District Judge Dale Fischer of California sided with the SEC in a default judgement, after the alleged unregistered broker failed to respond to the commission’s lawsuit against the startup from September 2019, according to a March 6, 2020 statement.

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