Development company Sia Network will pay a fine of $ 225 thousand in favor of SEC

Boston-based startup Nebulous, which developed the Sia Network cryptocurrency project, will pay a fine of $ 225,000 to the U.S. Securities and Exchange Commission (SEC) for selling unregistered securities.

Big news! We entered into a settlement with the SEC for our 2014 offering of Siafunds (our security token), and the SEC took no enforcement action against Siacoins or any current activity on the Sia network. Read the press release here. Thread incoming! https://t.co/XOWk9lmqG6 pic.twitter.com/oyCOMDwwfq

– Sia (@SiaTechHQ) October 1, 2019

Tokensale Sia was held back in 2014. Total fees amounted to only $ 120 thousand.

Nebulous neither confirmed nor denied the allegations.

Earlier, a similar deal was concluded by Block.one startup, which developed the EOSIO protocol. In his case, the fine was $ 24 million.

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