ICO : companies that have not complied with the redemption date of

November 17, 2019 by Océane

The Wall Street Journal reported the names of the startups who had promised to repay the investments of their clients on the ICO 2017, and yet have exceeded the deadlines announced by the SEC.

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Startups disrupt the market with the SEC

The Securities and Exchange Commission had threatened several businesses of ICO to impose heavier fines in case of non-repayment of their clients to 2017 following a deadline specific. At the end of this date, which has been exceeded since, the major part of them, however, have decided not to comply with the market.
Among them, Airflox company, mobile bank, Paragon Corner, a platform Blockchain, which operates the Cannabis and finally Gladius, the company provides solutions of cyber security. For the first two companies, the deadline was October 16, while the Gladius has been accused of having ignored his penalty.

A process that does not work

Although the SEC has decided to bring justice to the countless investors victims of disappointments in relation to the ICO 2017, the reimbursement process does not seem to work as it should, given that the companies mentioned upstream do not necessarily have the funds necessary to restore the situation.
Michael S. Dicke , a former lawyer specializing in law enforcement at the SEC said :

“I’ve had a look and I now see it as impractical, because for many projects, they have spent the money in accordance to what they have said to the buyers, on which they were going to spend the money : to build the project. (…). This type of action really only works when the representative may reimburse “.

What do you think of these reimbursements of investment funds imposed by the SEC, to the representatives of the ICO 2017 ? Give your opinion in the comments section.
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