SEC charges Sparkster to pay $35m for unregistered crypto sale

The SEC has charged Sparkster Ltd. and crypto influencer Ian Balina in an unregistered crypto sale and for promoting tokens without reviling own compensation.

The SEC has issued a cease-and-desist order against the software development company Sparkster Ltd. and its CEO, Sajjad Daya, for an unregistered offer and sale of crypto asset securities from April 2018 through July 2018.

In SEC’s order, Sparkster and Daya raised $30m from 4,000 investors to develop Sparkster’s “no-code” software platform

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