The united states Securities & Exchange Commission (“SEC”) has reached settlement with two of the founders of the Bitqyck, that is, without the license of digital effects (STO s) what you paid for, and investors have been deceived, reported to the beurswaakhond in a press release. It’s going to have to pay more than ten million dollars.
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The digital effects?
So what is the problem? The two founders is Bruce Bise, and Sam Mendez of Texas offered the so-called security token (STO’s) Bitqy and BitqyM it. STO can be used to translate the digital effects.
A person buying a share, but the issuance of, and the payment of the dividend, is, by means of a smart contract. The Bitgy token, should investors have a share in the company. The BitgyM token that he gave to investors with a recurring interest in the proceeds of a mining farm.
According to the SEC, these claims are false. For example, there was a shady exchange with the name of QyckDeals in order Bitgy tokens you are searching for. In addition, the non-registered stock market TradeBQ where the Bitgy tokens to be sold.
The 13-million-dollar
Bitqyck know of no less than thirteen million dollars from investors. Through the committees, to the investors of $4.5 million will be able to earn money, but they are still two-thirds of their investment is lost.
Bitgyck is now going to be more than $8.3 million payment to the SEC and, to the founders, Bise, and Mendez himself, shall, respectively, pay a fine of 890 thousand dollars and 850 thousand dollars.
“No new laws”
According to the SEC’s chairman, Jay Clayton, the regulator does not intend to use the existing laws to adapt to the new digital assetklassen, said recently, compared to news agency Bloomberg.
“I don’t think that a lot of people are too eager to become what we are, the rules are going to change for this technology to be enabling and there has been a lot of concerns and were briefed fully in order to achieve this goal. However, we are the bright from the start: this isn’t going to happen).
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