SEC v. Blockchain of Things

The SEC sued Blockchain of Things, Inc. for conducting an unregistered ICO that raised approximately $13 million from investors to fund the development and promotion of its blockchain-based platform.

The SEC found that Blockchain of Things, Inc. violated federal securities laws by offering and selling BCOT without registering them as securities. Blockchain of Things agreed to cease the unregistered offering, return funds to harmed investors, and pay a $250,000 civil penalty. BCOT also undertook to register its tokens as securities and to notify all platforms where its tokens were traded to ensure compliance with federal securities laws.

File No. 3-19621