SEC Halts Multimillion-Dollar ‘Munchee’ ICO for Securities Violations 

In its cease-and-desist order, dated Dec. 11, the SEC argued that the MUN tokens constitute securities because “they were investment contracts.” The document later notes that the tokens were ultimately deemed a security regardless of their “utility” when the sale took place.

Source: SEC Halts Multimillion-Dollar ‘Munchee’ ICO for Securities Violations – CoinDesk

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