{"id":34899,"date":"2021-01-18T14:12:23","date_gmt":"2021-01-18T12:12:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34899"},"modified":"2025-08-28T22:44:33","modified_gmt":"2025-08-28T19:44:33","slug":"wireline-to-pay-650000-to-settle-sec-dispute","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/wireline-to-pay-650000-to-settle-sec-dispute\/","title":{"rendered":"Wireline to pay $650,000 to settle SEC dispute"},"content":{"rendered":"<p>Blockchain startup Wireline has agreed to pay $650,000 to the U.S. Securities and Exchange Commission (SEC). The regulator accused the project of an illegal token sale.<\/p>\n<p><!--more--><\/p>\n<p>In 2018 the team raised $16.3 million under the SAFT (Safe Agreement for Future Tokens) model, compatible with regulatory requirements. The contract envisaged a distribution of tokens after the Wireline platform launches.<\/p>\n<p>The commission said the startup had not registered the SAFT. Authorities barred the developers from transferring tokens to investors.<\/p>\n<p>Commissioner Hester Peirce partially supported the regulator&#8217;s decision. She said that during the token sale the project team&#8217;s &#8216;substantially distorted&#8217; important facts about the platform&#8217;s development.<\/p>\n<p style=\"margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\"><a style=\"text-decoration: underline;\" title=\"View 33-10920 on Scribd\" href=\"https:\/\/www.scribd.com\/document\/491118981\/33-10920#from_embed\">33-10920<\/a> by <a style=\"text-decoration: underline;\" title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\"lazy\" id=\"doc_15606\" class=\"scribd_iframe_embed\" title=\"33-10920\" src=\"https:\/\/ru.scribd.com\/embeds\/491118981\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-ki0m410qRzgZ86l1jAhf\" width=\"100%\" height=\"600\" frameborder=\"0\" scrolling=\"no\" data-auto-height=\"false\" data-aspect-ratio=\"0.7729220222793488\"><\/iframe><\/p>\n<p>In December 2020, a court ordered the ICO startup Blockvest and its founder Reginald Buddy Ringold <a href=\"https:\/\/u1f987.com\/en\/news\/u-s-court-orders-ico-startup-blockvest-to-pay-696000\">to pay $696,000<\/a> in an SEC action.<\/p>\n<p>Subscribe to ForkLog&#8217;s news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain startup Wireline has agreed to pay $650,000 to the U.S. Securities and Exchange Commission (SEC). The regulator accused the project of an illegal token sale.<\/p>\n","protected":false},"author":1,"featured_media":34900,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,128,1378],"class_list":["post-34899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-sec","tag-token-sales"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34899"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34899\/revisions"}],"predecessor-version":[{"id":34901,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34899\/revisions\/34901"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34900"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}