Another remnant of 2017 gets hit by regulation.
The SEC has accused the startup of running its ICO without going through the proper legal channels, based on a Sept. 15 statement from the regulating body. The commission claims Unikrn offered an unregistered investment opportunity.
“Unikrn agreed to settle the charges by paying a $6.1 million penalty, substantially all of the company’s assets, to be distributed to investors through a Fair Fund,” the statement said.
Unikrn made headlines back in 2017 when Dallas Mavericks owner Mark Cuban invested in the project.