Quantstamp Settles Charges with SEC Over $28 Million ICO!

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Quantstamp, a blockchain security firm, has settled with the US Securities and Exchange Commission (SEC) over charges related to its $28 million initial coin offering (ICO) in 2019. The SEC alleged that Quantstamp violated securities laws by conducting an unregistered offering of securities. The company agreed to pay a $250,000 penalty, and will also return funds to its investors and register its tokens as securities. The SEC noted that Quantstamp cooperated with the investigation, which ultimately led to a settlement. This is the latest in a series of regulatory actions against ICOs and other crypto-related offerings by the SEC.