Crypto Investment Fund CoinAlpha Fined $50K by US SEC
Cryptovest
Published Dec 10, 2018 12:10PM ET
Updated Dec 10, 2018 01:21PM ET
Crypto Investment Fund CoinAlpha Fined $50K by US SEC
The US Securities and Exchange Commission (SEC) has set a $50,000 penalty on crypto investment fund CoinAlpha for breaching federal laws by offering unregistered securities. The Delaware-based company had cooperated with the regulator during the investigation process, but neither accepted nor denied the accusations, according to an SEC order on Friday.
Along with the fine, the regulator barred CoinAlpha from violating federal securities in the future. Both penalties were imposed after SEC negotiations with the company.
CoinAlpha set up its cryptocurrency fund in October 2017 and filed an exemption of securities offering application within SEC. The company did not meet those provisions and was obliged to register for offering securities. However, CoinAlpha began its services without the required SEC permit. Moreover, the fund was not implementin...
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Written By: Cryptovest
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