The SEC has settled charges a Washington D.C.-based crypto startup’s Initial Coin Offering was an unregistered securities offering without an applicable registration exemption. The SEC did not impose penalties against the company, Gladius Network LLC, which self-reported the ICO.
According to a Feb. 20 press release, Gladius raised around $12.7 million in digital assets as part of a 2017 ICO. The firm was looking to raise funds as part of its plan to develop a network for renting computer bandwidth to defend against cyberattacks and enhance delivery speed. Read more.