Tanya Abrosimova
Independent Analyst
- Block.One fined by SEC for the breach of federal legislation.
- The company will have to pay a fine in the amount of $24 million.
- EOS/USD is gaining ground, trading above critical $3.00.
Block.one, the company behind EOS ecosystem reached an agreement with the Securities and Exchange Commission (SEC) in connection with a year-long ERC-20 tokens sale . The company agreed to pay a fine in the amount of $24 million, though it neither admitted or denied the SEC’s charges.
The financial regulator pointed out that EOS token sale lasted nearly one year after the publication of The DAO collapse report. Meanwhile, the company did neither register its initial price offering (ICO) as a security offering as required by Federal law nor applied for a waiver.
“We are excited to resolve these discussions with the SEC and are committed to ongoing collaboration with regulators and policy makers as the world continues to develop more clarity around compliance frameworks for digital assets,” the company said in the press-release.
Meanwhile, Block.one explains that the charges relate specifically to the ERC-20 token, which is no longer in circulation.
EOS/USD is on the rise
EOS/USD is changing hands at $3.00, off the intraday high reached at $3.13. The coin has gained about 10% of its value on a day-on-day basis amid the global recovery on the cryptocurrency markets. If the price stays above $3.00, the recovery may be extended towards the next bull’s target at $3.50 protected by SMA100 (Simple Moving Average) and SMA200 four-hour.
On the downside, the initial support is created by $2.66 ( the lower line of four-hour Bollinger Band).
EOS/USD, four-hour
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
LINK price jumps 10% as Chainlink races toward tokenization of funds
Chainlink (LINK) price has remained range-bound for a while, stuck between the $16.00 roadblock to the upside and $13.08 to the downside. However, in light of recent revelations, the token, which powers the verifiable web of the decentralized computing platform, may have further upside potential.
Gaming token Notcoin down by almost 50% after airdrop launch
NOT experienced a rapid decline hours after its anticipated launch on Thursday, shedding almost 50% of its value. This continues the cycle of huge selling pressure faced by cryptocurrency airdrops after their launch, especially the launch of gaming tokens in recent times.
Ethereum drops below $3,000 again, spot ETH ETF sparks debate in crypto community
Ethereum again went below the $3,000 key level on Thursday after posting signs of a rally. The price action follows predictions from the community regarding the SEC's decision on spot ETH ETFs next week.
SUI price defends $0.8880 amid multiple Sui network integrations
Sui (SUI) price failed to heed to the broader market recovery on Wednesday, extending the fall to the $0.8880 support level. However, with multiple network integrations in the works, the altcoin has pivoted around this level and is scaling a recovery.
Bitcoin: Why BTC is close to a bottom
Bitcoin (BTC) price efforts of a recovery this week have been countered by selling pressure during the onset of the American session. However, the downside potential appears to have been capped.