SEC ceases two cryptocurrency companies
The US Securities and Exchange Commission agreed with Crypto Asset Management LP and TokenLot LLC to terminate their activities due to irregularities
This Tuesday, the Securities and Exchange Commission of the United States (SEC) announced that it agreed with two companies and their owners to finalize their operations in cryptocurrencies field.
According to the agency, Crypto Asset Management LP (CAM) worked under false pretensions in view that Timothy Enneking, the main manager, claimed that he had managed to raise about three million dollars by the end of last year.
Before this, and after several negotiations, it was agreed to cease operations of the company plus a fine of 200 thousand dollars.
There is also the case of TokenLot LLC and its owners Lenny Kugel and Eli L. Lewit, who acted as unregistered stockbrokers and where they also received some thousand retail management investments and about 200 digital chips.
The owners will have to pay 45 thousand dollars each in fines after agreeing with “the stock and industry value bars and the prohibition of an investment company with the right to resubmit an application after three years”.
K. Tovar
Source: Diario Bitcoin
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