The SEC sues a Chicago crypto investment firm, accusing it of illegally selling BXY tokens
Chain Catcher News, the U.S. Securities and Exchange Commission (SEC) recently filed a lawsuit against a Chicago-based cryptocurrency investment company, Chicago Crypto Capital (CCC), and three of its employees, accusing them of inducing 100 investors to purchase a total of $1.5 million worth of the cryptocurrency BXY, which was not registered with the investment regulatory agency. Additionally, Chicago Crypto Capital and the sales personnel failed to inform buyers that the company could receive a 5% sales commission from the cryptocurrency seller. This constitutes acting as an unregistered broker and fraudulent behavior, violating U.S. securities laws. (CoinDesk)
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