After the group suits filed against Tezos and Centra, it was the turn of the team to respond to another start-up, which decided not to register its campaign with the Securities and Exchange Commission (SEC). On December 21, a class action was filed against ATBCoin and its founders. This is written by CoinDesk.
The plaintiff asserts that the company violated the law on securities, since it issued unregistered securities that allow its holders to rely on income in the coins of ATB.
The sale of tokens of a fast and low-cost payment system based on the ATB blockchain started on July 12 and ran through July 12, according to the company’s blog. According to the plaintiff, in August, ATBCoin launched the second part of the campaign and continued to attract funding even in September.
The plaintiff invested 2.1 ETH on August 12 . How much money was collected during the ICO is not reported, but the prosecution claims that this value is in the range between $ 20,400,000 and $ 24,210,000 in equivalent in BTC, ETH and LTC.
Recall, earlier the SEC suspended ICO Munchee, believing that its organizers are engaged in the distribution of securities under the guise of cryptotokens.