Description
The SEC sues Tierion Inc. for conducting an unregistered securities offering in the form of a token sale. Tierion raised approximately $25 million through the sale of TNT tokens to fund the development of the Tierion Network.
Legal Significance
The SEC determined that TNT tokens were securities under Howey. Tieron agreed to pay a $250,000 fine, disable all TNT token transfers and set up a claims process to compensate investors who participated in the token sale. Tierion also agreed to halt all trading in TNT tokens across digital asset platforms.
Issues
Status
Cease-and-Desist
Case No.
File No. 3-20188
Date Filed
December 23, 2020
Plaintiff
SEC
Defendant
Tierion Inc.
Court
-
Plaintiff Counsel
-
Defendant Counsel
-
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