U.S. SEC charges five individuals involved in crypto lending program By Reuters

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© Reuters. FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Friday said it has charged five individuals for promoting a global unregistered digital asset securities offering that raised over $2 billion from retail investors.

The agency alleged that from January 2017 to January 2018 BitConnect used a network of promoters to sell the securities without registering them, as required by the federal securities laws. The promoters advertised to prospective investors through YouTube videos.

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