The Securities and Exchange Commission reveals settled charges against the operator of Coinschedule.com, a website that profiled offerings of digital asset securities.
The US watchdog alleges that UK-based Blotics Ltd violated the anti-touting provisions of the federal securities law. The company failed to disclose the compensation it received from the digital asset securities issuers it profiled.
The SEC stated that Coinschedule.com could be accessed in the United States from 2016 to August 2019. During that time US visitors comprised a significant portion of its web traffic.
The regulator said:
Visitors to Coinschedule.com were presented with details about each profiled digital token offering in so-called “listing” profiles, which also included links to the token issuers’ own websites and a “trust score” that Coinschedule claimed reflected its evaluation of the “credibility” and “operational risk” for each digital token offering based on a “proprietary algorithm.” In reality, the token issuers paid Coinschedule to profile their token offerings on Coinschedule.com, a fact that Coinschedule failed to disclose to visitors.
