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Another ICO Cracked Down by SEC, Even the Investors Can be Punished by Law

The US Securities and Exchange Commission (SEC) has cracked down on an initial coin offering (ICO) called PlexCoin for illicitly distributing securities without the approval and authorization from the SEC.

SEC Steps In

On June 20, 2018, the U.S. SEC disclosed that local authorities have requested the police to freeze the assets and holdings of PlexCoin project operators, alleging Dominic Lacroix, a Canadian securities’ violator, for unlawfully utilizing secret accounts and personal accounts of other individuals to launder money received during the token sale.

The SEC’s litigation release read:

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