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The US Securities and Exchange Commission has come after a Seattle-headquartered crypto eSports and gambling platform Unikrn for its $31 million initial coin offering (ICO).
The SEC had alleged that the ICO constituted a sale of unregistered securities sale, and was thus illegal.
Unikrn has agreed to pay a $6.1 million penalty to the SEC, which will then distribute the money back to investors, the Commission announced today.
This story is developing and will be updated.