SEC Pays $4.6 Million to Bitclave Victims, Ripple Supporters Ask, ‘What About XRP?’ 💸
The U.S. Securities and Exchange Commission (SEC) announced that $4.6 million has been distributed to investors affected by the 2017 Initial Coin Offering (ICO) of BitClave, an Ethereum-based search engine. This payment follows a settlement reached in 2020, where BitClave was charged with failing to register its ICO as securities.
This development has drawn attention from Ripple supporters who are questioning the absence of a similar payout for XRP, amidst its ongoing legal battles with the SEC. The contrasting outcomes for BitClave and XRP highlight broader frustrations with regulatory transparency and consistency.
Overall, the SEC’s action represents a step in addressing financial grievances from past crypto ventures, while also reigniting debates and concerns within the cryptocurrency community regarding fairness and accountability.
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