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SEC Charges Thor Token Creators for $2.6m ICO

The United States Securities and Exchange Commission (SEC) announced on Wednesday that it charged Thor Technologies, Inc. and its co-founders with conducting an unregistered sale of securities in the form of an initial coin offering (ICO).

Thor Technologies have raised $2.6 million in cryptocurrencies and cash from 1,600 investors without having the proper licenses and authorizations issued by the SEC. The Commission filed an indictment in the U.S. District Court for the Northern District of California, suggesting the company and Chin violated the securities registration provisions of the Securities Act of 1933.

(By Damian Chmiel)

SEC
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