SEC Charges DeFi Company for Alleged Fraudulent $30M Offering
1 d ago•1 min read•Regulation
The U.S. Securities and Exchange Commission (SEC) has charged decentralized finance (DeFi) lender Blockchain Credit Partners and two of its top executives for raising $30 million through allegedly fraudulent offerings.
The case is the agency's first involving securities using DeFi technology, the SEC said Friday. The SEC said Florida men Gregory Keough, Derek Acree and their company Blockchain Credit Partners sold securities in unregistered offerings using smart contracts to sell tokens that paid over 6% interest.