The U.S. Securities and Exchange Commission (SEC) has ordered Salt Lending, a cryptocurrency lending platform, to begin returning to investors more than $47 million raised in the 2017 ICO.<\/p>\n
According to the published document<\/a>, Salt Blockchain Inc. violated Sections 5(a) and 5(c) of the Securities Act by offering its tokens for sale without proper registration.<\/p>\n In addition to the registration of SALT tokens, under the SEC agreement the company must also begin the process of returning funds to investors.<\/p>\n The Salt Lending ICO ran from June to December 2017. It raised $47 million. An additional $1.2 million was raised by Salt Lending from token sales after the ICO had concluded.<\/p>\n In both cases, the company did not have the necessary registration to sell securities, nor did it file an exemption from such registration.<\/p>\n The SEC began examining Salt Lending in 2018. In addition to selling securities without proper registration, the SEC was interested in the platform’s ties to ShapeShift chief Erik Voorhees.<\/p>\n Follow ForkLog news on Telegram: ForkLog FEED<\/a> \u2014 the full feed of news, ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":" The U.S. Securities and Exchange Commission (SEC) has ordered Salt Lending, a cryptocurrency lending platform, to begin returning to investors more than $47 million raised in the 2017 ICO.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[319,36,911,128],"class_list":["post-29488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ico","tag-regulation","tag-salt","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/29488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=29488"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/29488\/revisions"}],"predecessor-version":[{"id":29489,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/29488\/revisions\/29489"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=29488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=29488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=29488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}