Continuing to be a Nightmare for the Crypto Money Industry, SEC Sues Another Altcoin Project!

U.S. Securities and Exchange Commission (SEC), cryptocurrencies control and pressure on it continues.

In this context, the SEC altcoin Another lawsuit has been filed against a new altcoin as they continue their investigations into their projects.

SECco-founder and CEO of Thor Technologies David Chin along with Thor’s 2018 initial coin offering (ICO) He filed a complaint alleging that it was an unregistered sale of securities under the Securities Act of 1933.

The SEC said in a statement. Thor Technologies between March and May 2018. Thor (THOR) stated that it has raised $2.6 million from 1,600 investors through the sale of its token.

In filing a complaint with the San Francisco U.S. District Court on Dec. 21, the SEC stated that Thor had offered to sell crypto assets designated as Thor Tokens to the public to fund its business to develop a software platform, but that platform was never completed:

The SEC also included the following statements in its complaint file:

“Thor and Chin marketed the Thor Tokens to investors who saw the Thor Tokens as an investment opportunity that could add value, promoting the potential increase in the value of the tokens and claiming that the tokens would be made available on crypto-asset trading platforms.”

The SEC said in its complaint filed with the court, it sought injunctive relief, restitution of alleged wrongful earnings, plus bias interest and civil penalties.

of the SEC altcoin This isn’t the first time he’s filed a lawsuit against his projects. Because SEC cryptocurrency stated to be capable of leading the industry Ripple’a (XRP) also sued.

Also, the SEC is the world’s largest cryptocurrency exchange outside of Ripple. BinanceHe also announced that he was investigating the ICO of ‘s in 2017.