Block.one illegally sold securities to build the EOS cloud computing service, SEC finds

The firm behind blockchain-powered cloud computing service EOS must pay $24 million for violating US securities law with its initial coin offering (ICO). “Block.one did not register its ICO as a securities offering pursuant to the federal securities laws, nor did it qualify for or seek an exemption from the registration requirements,” said the US Securities and Exchange Commission (SEC) via a press release. The SEC highlighted the publishing of its investigation into autonomous bloc