The following real cases will show how the organizations in question violated federal securities laws under the SEC's reviews and the failure to file registration for the offering of digital tokens with the SEC.
Real cases
Munchee Inc. (Munchee order, December 11, 2017)
In the Munchee case, the SEC applied the analysis from the DAO report.
The facts of the case are as follows:
- Munchee has its place of business in California. It created an iPhone application (the Munchee app) in the US for the public to post pictures, review meals, and rate restaurants. Munchee's staff maintained and upgraded the Munchee app.
- Munchee and its agents had control of the content on multiple web pages, which included a Twitter account...
