Block.one has reached a civil settlement with the U.S. Securities and Exchange 
Commission (the "SEC") in connection with the company's sale of an ERC-20 token 
between June 26, 2017 and June 1, 2018. Under the settlement, Block.one will 
pay a one-time fine of US$24 million, whilst neither admitting nor denying the 
SEC's findings.

The settlement relates specifically to the ERC-20 token sold on the Ethereum 
blockchain during the aforementioned period, which is no longer in circulation 
or traded, and will not require the token to be registered as a security with 
the SEC. The settlement resolves all ongoing matters between Block.one and the 
SEC.

The SEC has simultaneously granted Block.one an important waiver so that 
Block.one will not be subject to certain ongoing restrictions that would 
usually apply with settlements of this type. Block.one believes the SEC's 
granting of this waiver evidences Block.one's continuing commitment to 
compliance and best practices in the United States and globally.

The company issued the following statement regarding the announcement:

"We are excited to resolve these discussions with the SEC and are committed to 
ongoing collaboration with regulators and policy makers as the world continues 
to develop more clarity around compliance frameworks for digital assets.

The extraordinary success story of America is in part built upon its rich 
history of supporting entrepreneurship and emerging technologies, and we 
encourage and applaud the efforts of entrepreneurs and leaders from tech, 
finance, and other industries who are striving to make the U.S. an environment 
where technology can advance and thrive in a predictable and inclusive way.

Blockchain's ability to better align organizations with their consumers, 
increase the transparency of critical database infrastructure, and better 
distribute value and wealth throughout society remains our company's focus, and 
we will continue to fight for the development of our industry to achieve as 
much alignment around policy and best practices as possible.

As always, we are humbled by, and thankful for, the community support that 
enables everything we do."

About Block.one

Block.one is a global software company specializing in high-performance 
blockchain software. In 2018, it published EOSIO, a free, open-source protocol 
designed to bring speed, scalability, and ease-of-use to the secure and 
transparent fundamentals of distributed databases. Block.one's venture capital 
arm, EOS VC, invests in companies, projects, and developers around the world 
leveraging EOSIO technology.

Source: Block.one