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Blockchain - Healthcare company settles its own ICO fees

2019-08-14 04:21 pm | Resource: News Section | No Views : 34

Blockchain - Healthcare company settles its own ICO fees The healthcare company focused on Blockchain technology has settled fees with the US Securities and Exchange Commission (SEC) for the 2017 ICO project.
On Monday, August 12, the Securities and Exchange Commission (SEC) clarified that New England-based Blockchain SimplyVital Health technology raised about $ 6.3 million from ETH through a pre-sale of HLTH codes to fund an "eco-system for a series of healthcare related squares." "Is called Health Nexus.
Advance sale was significantly under a simple future code arrangement agreement (SAFTs) - a model that is supposed to be designed to simplify the ICO process and minimize the risk of implementation procedures by offering investment contracts rather than codes. After the pre-sale, which closed in April 2018, the company did not move forward with the planned public offering.
The company sold HLTH codes that "were not delivered to investors unless and until they are created by Block chainSimplyVital technology company," according to the US Securities and Exchange Commission.
In the end, the committee ruled that the company violated the provisions of the Securities Law of 1933 by not registering with the regulator prior to the offer and was not eligible for exemption from registration.
Blockchain SimplyVital has committed itself to a SEC discontinuation, while “neither recognizing nor denying the SEC's findings.
By April 19, 2019, Block chain SimplyVital had voluntarily returned the bulk of the money raised from investors - a factor the Securities and Exchange Commission said it took into account when it decided not to impose civil sanctions.
As reported in March 2018, industry sources told CoinDesk that the SEC is likely to continue after SAFT sales.
An explicit source at the time said:
The US Securities and Exchange Commission is targeting SAFTs The new method of the Securities and Exchange Commission is to consider tokens a tool and a benefit at the same time, which means that a token can benefit the platform but at the same time it can be considered as a security if you sell it to parties you searched for. Basically profit from the increase in value. "

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