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ShipChain to Settle with the SEC Following $27.5 Million ICO of SHIP Tokens

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The Securities and Exchange Commission (SEC) has accepted an offer to settle from ShipChain, a company that apparently raised $27.5 million in an initial coin offering (ICO) for SHIP tokens.
The SEC states that ShipChain is a private company that was engaged in developing a fully-automated, transparent, shipping and logistics tracking and management platform using the Ethereum blockchain technology.
Between November 2017 and the beginning of January 2018, ShipChain promoted its company and the SHIP Token ICO. According to the filing by the SEC, ShipChain’s offering of SHIP Tokens was not registered with the Commission, nor did ShipChain’s offer and sale …

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