The SEC has obtained an emergency asset freeze against crypto firm Digital Licensing Inc., which it accuses of fraud for its 'sham' node licenses.
The United States Securities and Exchange Commission has obtained a temporary asset freeze against Utah-based crypto company Digital Licensing Inc, accusing the firm of perpetrating a $50 million fraudulent crypto scheme.it had obtained a temporary asset freeze, restraining order, and other emergency relief against Digital Licensing Inc., which was operating as “DEBT Box.”
The SEC has alleged the firm was selling unregistered securities since March 2021, which it called “node licenses.”On its website, DEBT Box claims to be a decentralized eco-friendly blockchain “where crypto meets commodities.” It claims to sell “software mining licenses” which need to be activated before they begin mining.
In its complaint, the SEC said the firm falsely claimed that these “nodes” would generate crypto tokens through mining and that revenue-generating businesses would drive up the token values, resulting in huge gains for investors.
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