SEC Halts AriseBank ICO: What it Means for Investors

Posted by on Aug 31, 2021 in Investments | 0 comments

SEC Halts AriseBank ICO: What it Means for Investors

In a surprising turn of events, the SEC halted AriseBank’s ICO. The reason for this is that they were not able to file their registration statement on time. This has left investors wondering what will happen next and whether or not it will affect them.

To help answer these questions, we have put together a blog post outlining why SEC halted AriseBank ICO due to failure to file, how it affects you as an investor and what steps should be taken to protect your assets moving forward.

Why Did SEO Halt AriseBank ICO?

The SEC halted the digital currency company’s initial coin offering (ICO) due to its failure to file a registration statement.

Why was this decision made? To run an ICO, you need two things – you have to register with the SEC, and you have to file a registration statement.

AriseBank failed to do this on time, which was the catalyst for the decision by SEC.

What Does This Mean For Investors?

The ramifications of not filing with the SEC are significant as they can result in civil or criminal penalties from the government agency that regulates securities trading.

An announcement from the SEC indicates that it will be “taking action against persons who use unregistered offers and sales of digital securities.” There is still time for AriseBank to rectify its mistake.

What Should I Do?

If you have any investments in a company, now would be a good time to look into your holdings and ensure that they are registered with the SEC.

You should also look into whether or not it is better to distribute your assets in digital securities or cash at this point, as this will be a vital decision moving forward.

Lastly, take the help of a skilled and highly experienced investment fraud lawyer like Erez Law whenever you feel like your broker or a firm misled you into a bad investment. This step will ensure that you can recover your money on time without facing any legal or financial troubles.

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