SEC charges token sale platform ICOBox with securities violations
The U.S. Securities and Exchange Commission (SEC) has sued ICOBox and its founder Nikolay Evdokimov for allegedly violating securities laws during its 2017 token sale and while facilitating other ICOs. According to the agency, Evdokimov raised $14.6 million during the sale of ICOBox's ICOS token. The ICOS token was supposed to give holders discounts and other benefits for token sales on the site but the SEC claims "as of the date of ICOBox’s offering, ICOBox had yet to support a single token sale to completion.” In addition to the token sale, ICOBox facilitated $650 million of ICOs for others, therefore, acting as an unregistered broker according to the SEC.
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