{"id":55692,"date":"2022-01-11T13:49:05","date_gmt":"2022-01-11T11:49:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=55692"},"modified":"2025-09-04T02:50:43","modified_gmt":"2025-09-03T23:50:43","slug":"sec-fines-tzero-platform-800000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sec-fines-tzero-platform-800000\/","title":{"rendered":"SEC fines tZERO platform $800,000"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC)<a href=\"https:\/\/www.sec.gov\/litigation\/admin\/2022\/34-93938.pdf?utm_medium=email&#038;utm_source=govdelivery\"> \u043e\u0448\u0442\u0440\u0430\u0444\u043e\u0432\u0430\u043b\u0430<\/a> platform for trading security tokens tZERO $800,000 for violations of federal rules governing alternative trading systems.<\/p>\n<p>According to the order dated January 10, the company failed to disclose adequately information about the use of trading data outside the United States. The Singapore-based Blue Ocean Financial Technology \u2014 in 2017 it was bought by Overstock, the retail conglomerate whose group includes tZERO.<\/p>\n<p>The platform proposed that the SEC settle the dispute without admitting or denying the agency&#8217;s findings. In addition to the fine, it was ordered to refrain from future violations.<\/p>\n<p>This is not the regulator&#8217;s first complaint against tZERO. In March 2018 the Commission took an interest in the platform&#8217;s token sale, and two years later it broadened the investigation.<\/p>\n<p>Back then Overstock received a request for documents related to the investments of GSR Capital, as well as the tZERO alternative trading system. In another proceeding the regulator sought to examine insider-trading policies, as well as certain employment and consulting agreements.<\/p>\n<p>In 2019 investors accused Overstock and its former CEO Patrick Byrne of securities fraud. After Byrne&#8217;s departure from the company, a number of investors left tZERO.<\/p>\n<p>In May 2020 Overstock appealed the lawsuit related to the air-drop of security tokens. Company representatives called the allegations of market manipulation and dissemination of false information unfounded.<\/p>\n<p>On January 5, 2022, <span data-descr=\"U.S. Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span> fined the Polymarket<a href=\"https:\/\/forklog.com\/en\/news\/cftc-fines-defi-platform-polymarket-1-4-million\"> $1.4 million<\/a> for operating off-exchange binary options trading without proper registration.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) fined the security-token trading platform tZERO $800,000 for violations of federal rules governing alternative trading systems.<\/p>\n","protected":false},"author":1,"featured_media":55693,"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":[128,1976],"class_list":["post-55692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-sec","tag-tzero"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55692","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=55692"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55692\/revisions"}],"predecessor-version":[{"id":55694,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/55692\/revisions\/55694"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/55693"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=55692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=55692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=55692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}