SEC Fined Research Service ICORating In $ 268,000+
Russian-based research company ICORating has agreed to pay fines of $ 268,998 to the US Securities and Exchange Commission (SEC).
SEC Charges ICO Research and Rating Provider With Failing to Disclose It Was Paid to Tout Digital Assets https://t.co/G9SMJfddvk
— SEC_News (@SEC_News) August 20, 2019
Therefore, representatives of the department accused the company of the fact that it did not notify users of cash rewards for promoting ICO projects, whose tokens, in accordance with American law, fall under the definition of securities.
ICORating did not confirm or deny the allegations, however, now on the website you can find the corresponding notification on receipt of monetary payment for inclusion in the listing and rating projects. However, according to representatives of the organization, this does not affect the objectivity of research.
Recall that earlier the SEC accused the Veritaseum cryptocurrency project of fraud. The agency believes that investors were misled since significant details were hidden in the terms of the tokensale.