SEC Puts $7.6 Million Fine on Crypto Invention Database | Crypto Briefing

Key Takeaways

  • The SEC has placed a $7.6 million fine on Loci Inc., a cryptocurrency-powered invention search service.
  • The regulator says that Loci misrepresented its business activities and did not register its ICO under securities regulations.
  • Loci’s token holdings will be destroyed and the LOCIcoin cryptocurrency will be removed from exchange listings.

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