The U.S. Securities and Exchange Commission (SEC) has reached an agreement with the blockchain project Tierion to reimburse ICO participants and buy back rewards paid to network miners.<\/p>\n
Tierion investors may seek compensation for losses and interest payments within 60 days of the court ruling.<\/p>\n
Tierion must immediately halt trading of ERC-20 tokens on the Ethereum blockchain and pay a $250,000 penalty to the SEC.<\/p>\n
The agreement with the regulator contemplates the redemption of 350 million TNT for 4,800 investors and the effective liquidation of 1 billion tokens.<\/p>\n
The TNT token sale began in July 2017 and was completed in a day. The campaign raised $25 million for the project.<\/p>\n
The regulator acknowledged that the token sale was conducted in violation of U.S. securities laws. Company representatives did not admit it, but did not deny the wrongdoing.<\/p>\n
Despite the SEC’s allegations, the project plans to continue operating without TNT.<\/p>\n
\n\u201cThis announcement does not affect the availability of Tierion\u2019s current products,\u201d \u2014 \u0433\u043e\u0432\u043e\u0440\u0438\u0442\u0441\u044f<\/a> in a project statement.<\/p>\n<\/blockquote>\n
Developers can continue to use Chainpoint in their applications. The team now plans to move to the next phase of network deployment.<\/p>\n
Network node operators can sell their TNT to the project at a price of $0.0001 and claim interest payments, \u043f\u0438\u0448\u0435\u0442<\/a> CoinDesk.<\/p>\n