Unikrn, a token issuer that attempted to remain compliant while issuing digital assets but ended up being the target of a Securities and Exchange Commission (SEC) enforcement action, settled with the Commission in 2020. As was reported at that time, Unikrn was assessed a $6.1 million penalty with “substantially all of the company’s assets, to be distributed to investors through a Fair Fund.”
Unikrn raised money under RegD by issuing a digital asset called Unikoin Gold (UKG). The SEC decided that Unikrn offered and sold UKG as an unregistered security.
Last Friday, the SEC filed a Proposed Distribution Plan for investors – some 2+ years later.
Unikrn has paid the penalty in full.
The Commission states that the Fund Administrator will pay all approved claimants while making a best effort to identify all impacted investors.
The SEC is also accepting comments on the plan.