The payment is part of a settlement BitClave agreed to pay in 2020 after the SEC charged the search engine for failing to register as a securities offering.
The United States Securities and Exchange Commission (SEC) has sent $4.6 million in reparations to investors in Ethereum-based search engine BitClave’s initial coin offering (ICO), the agency said on Nov. 20.
The payment is part of a settlement BitClave agreed to pay in 2020 after the SEC charged the search engine for failing to register its 2017 ICO as a securities offering.
“The checks are in the mail. We are sending out more than $4.6M to investors harmed by BitClave, PTE Ltd.’s unregistered ICO of digital asset securities. After a notice & claims process, investors will now be receiving their share of the BitClave Fair Fund,” the SEC said in a post on the X platform.
