The SEC had proposed a “Cease and Desist” order against Block.One for violating SEC’s regulations and conducting an unregistered Initial Coin Offering (ICO). The proposed order could have led potentially forced Block.One to put a stop to their operations. The letter that was sent from EOS’ lawyers to the SEC sought “a waiver of any disqualification that will arise under Regulation A and Regulation D with respect to Block.one or any of its affiliates as a result of the entry of the Proposed Order.” The letter admits that the Block.One’s activities violated sections 5(a) and 5(c) of the Securities Act as the company ... (full story)