The SEC claims to have performed their first enforcement action relating to DeFi.
Two men from Florida, Gregory Keough and Derek Acree, and a company based in the Cayman Islands, Blockchain Credit Partners, have been charged. They are alleged to have offered out, and sold, over $30m worth of unregistered securities.
Labelling their behaviour as fraudulent, the SEC claimed that the two had misrepresented the way that their company worked to investors, withholding information relating to interest payments.
A member of the SEC has stated that the agency both shut down their project, and returned any money belonging to investors.
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