Originally published at: https://toshitimes.com/founders-behind-star-endorsed-ico-charged-with-fraud/
Centra Tech, the company behind the so-called CTR coin, was recently slammed with US Securities and Exchange Commission (SEC) charges and the ICO was stopped. This is not the first time Centra Tech is under scrutiny, as the company was most recently involved in a first-class action lawsuit in December, filed by a disgruntled investor.…
I think this is a matter of bandwidth, if you look at the vast number of ICOs appearing every single day (we’re at 163 new ones this year alone: https://www.coinschedule.com/stats.html) it becomes a forrest to weed through, even for the SEC.
Add to that they have just began looking into regulations and securities labeling (mostly due to Bitconnect / Davor coin type public awareness), I don’t find it all that surprising that they are running behind in terms of validating legality. They have a finite number of resources (which I’m sure they’re increasing) and came to the playing field rather late.
At least they’re now stopping some before the “founders” can run off with the money.