The U.S. Securities and Exchange Commission (SEC) has again come down heavily on a firm that seems to have erred and crossed the line. The SEC has ordered fund manager CoinAlpha Advisors LLC to pay a $50,000 fine following what it deemed to be an unregistered securities sale.
According to the SEC order which was published on Friday, CoinAlpha had raised approximately $600,000 from 22 investors during a period of 8 months from October 2017 to May 2018. Through this offering, the investors purchased limited partnership interests in the Fund in exchange for a pro rata share of any profits derived from the Fund’s investment in digital assets.
While the company did file a “Notice of Exempt Offering of Securities,” it did not file or cause to be filed a registration statement with the Commission, and no exemption from registration was available for the securities offering during the Relevant Period.
Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post!
If you believe this is an error, please chat with us in the #cheetah-appeals channel in our discord.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit