Munchee Inc., a San Francisco - based company selling digital tokens to investors to raise capital for its blockchain - based food review service, brought its initial coin offering to a halt recently, after the US Securities and Exchange Commission delivered a cease and desist order that declared the company's conduct constituted unregistered securities offers and sales. (coinira.com)
Earlier this month, reports emerged that the SEC had issued as many as 80 subpoenas to ICO operators and advisers, seeking to investigate whether they had violated federal laws by holding unregistered securities offerings. (cryptotimes.news)
So reads a key finding of a report, Capital Raising in the U.S.: An Analysis of the Market for Unregistered Securities Offerings, 2009 - 2014, by Scott Baugess, Rachita Gullapalli and Vladimir Ivanov, staff at the SEC's Divisio of Economic and Risk Analysis. (wac6.com)