Violation Tracker Individual Record

Company: 
Paragon Coin Inc.
Penalty: 
$250,000
Year: 
2018
Date: 
November 16, 2018
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
securities issuance or trading violation
Violation Description: 

The Securities and Exchange Commission announced settled charges against two companies that sold digital tokens in initial coin offerings (ICOs). These were the Commission's first cases imposing civil penalties solely for ICO securities offering registration violations. Both companies agreed to return funds to harmed investors, register the tokens as securities, file periodic reports with the Commission, and pay penalties.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.