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by Animats
1356 days ago
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The SEC brought the hammer down on Bloom last August.[1] "The SEC's order finds that Bloom violated the registration provisions of Section 5 of the Securities Act of 1933. In its offer of settlement, Bloom is undertaking to register the Bloom Tokens with the Commission and conduct a claims process to compensate investors who purchased the tokens. Bloom agreed to pay a $300,000 penalty, and the order includes a provision for an additional springing penalty, up to the value of the offering proceeds, for a total possible penalty of $30.9 million, if Bloom fails to complete the claims and registration processes." There's a slow process, but there should be refunds at the end of it. [1] https://www.sec.gov/enforce/33-11089-s |
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