SEC Charges Token Sale Platform ICOBox With Securities Violations
The U.S. Securities and Exchange Commission (SEC) alleged that ICOBox and founder Nikolay Evdokimov violated securities laws with its 2017 token sale and subsequent activity facilitating other initial coin offerings (ICOs).
According to a press release Wednesday, Evdokimov raised $14.6 million by selling “ICOS” tokens to more than 2,000 individuals, promising customers that the tokens would increase in value once it began trading. Moreover, token holders were told they could purchase other tokens on the ICOBox platform at a discount using their ICOS tokens.