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2020-01-27 17:07:02

No small-fry ICOs spared: SEC sues Opporty, says bounty program was an investment of money

Quick TakeNew SEC lawsuit against ICO issuer Opporty, which did a $600,000 token saleIssuer used SAFT and filed Form D with SEC, but allegedly failed to confirm accredited status and misrepresented scope and utility of platform to investorsSEC also says that bounty program — which gave users tokens for helping publicize platform — was also investment of money for securities law purposes.