In what it deems a first for both enforcement actions, the United States Securities and Exchange Commission (SEC) is charging two entities with registration failures.First in line, TokenLot LLC, the self-named “ICO Superstore,” is being charged with acting as an unregistered broker- dealer in the “first case charging unregistered broker-dealers for selling digital tokens after the SEC issued The DAO Report in 2017.” A seminal document in defining ICOs and tokens as securities, the DAO Report was released in July of 2017 and classified DAO tokens as unregistered securities following the infamous 2016 hack.In “its first-ever enforcement action finding an investment company registration violation by a hedge fund manager based on its investments in digital assets,” the SEC has also charged Crypto Asset Management LP (CAM) with operating as an unregistered investment company while falsely branding itself as the “first regulated crypto asset fund in the United States.”CAM and its sole manager Timothy Enneking reportedly raised over $3.6 million in 2017 by providing illegal investment management services. The company also facilitated “an unregistered non-exempt public offering” and invested roughly 40 percent of its funds in cryptocurrencies, but, upon facing action from the SEC, CAM terminated the public offering and instituted a buyback for its investors. In addition, Enneking acquiesced to the SEC’s censure... For Further Information Click on Below Button