The US Securities and Exchange Commission (SEC) has recently been on the agenda with its war on the crypto money industry, and many crypto money companies and exchanges have taken their share. The SEC, which filed a lawsuit against Ripple in December 2020, is remembered differently with the change of the president, but the new president certainly did not look for the old one.
SEC Fines Two Companies
Gary Gensler Although he came with great hopes, he focused directly on how to better regulate the crypto money industry and took firm steps in this regard. SEC is now GTV Media Group and Saraca Media Group He coveted the cryptocurrency-focused businesses of media companies such as Stating that media companies are offering illegal securities and that what they offer for sale is not crypto money, the SEC has imposed heavy fines on the companies.
According to the SEC report, the two media companies also offered securities and also launched a cryptocurrency called G-dollars. It is stated that the defendants shared shares in these two offerings and advertised it on their websites and social media platforms. It is stated on the website that approximately $500 million has been collected from approximately 5,000 people and investments have been made. Including US investors in these makes things very difficult for both companies.
As soon as the SEC fined these two companies, the fines were passed, and neither company denied it.