SEC files charges against Quantstamp for $28M initial coin offering

Blockchain security firm Quantamp is set to return $28 million  raised in a 2017 initial coin offering following charges brought by the United States Securities and Exchange Commission (SEC). The U.S. agency announced that it had formally charged the California-based firm on July 21 for conducting an unregistered initial coin offering of “crypto asset securities”. According to the statement from the SEC, Quantstamp agreed to settle the charges. The SEC’s order outlines how Quantstamp’s ICO, which took place in October and November 2017, raised over $28 million by selling its native QSP tokens to some 5,000 investors. Source: SEC filing