SEC: Charges DeFi company for defrauding investors out of $30 million
- SEC is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation
- Charged two Florida men and their Cayman Islands company for unregistered sales of more than $30 million
- Company Blockchain Credit Partners offered in unregistered offerings through DeFi Money Market
- The order finds that they used smart contracts to sell two types of digital tokens
- According to the order, in offering and selling mTokens and DMG governance tokens, the respondents stated that DeFi Money Market
- The order finds that rather than notifying investors of this roadblock, the respondents misrepresented how the company was operating
