SEC Orders Crypto Biz To Register Tokens, Or Pay Up To $31M

By Elise Hansen (August 9, 2022, 7:36 PM EDT) — Blockchain company Bloom Protocol has agreed to register its cryptocurrency tokens with the U.S. Securities and Exchange Commission and offer a refund to certain investors in its token offering — or face a fine of up to $30.9 million, the SEC said Tuesday.

Bloom Protocol LLC agreed to register its signature cryptocurrency token, known as Bloom Tokens or BLT, with the SEC, after the agency accused the company of holding an unregistered securities offering. The company must also offer to make certain BLT purchasers whole, the order said.

If not, the company faces a fine of up to $30.9 million, the…

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