FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo
November 10, 2021
WASHINGTON (Reuters) – U.S. security regulators on Wednesday said they had initiated proceedings against Wyoming-based American Cryptofed and accused the company of putting forth misleading information, impacting the registration of its Ducat and Locke digital tokens.
The U.S. Securities and Exchanges Commission, in a statement, alleged American Cryptofed on Sept. 16 “filed a materially deficient and misleading” form in seeking to register the tokens as equity securities that “failed to contain certain required information about the two tokens as well as about” the company and contained “materially misleading statements and omissions.”
(Reporting by Susan Heavey, Editing by Chris Gallagher)
Source: One America News Network
