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  • EOS community appreciate that Block.one has settled with the SEC to ensure a smooth running into the future.
  • Block.one says that settlement was made against the ERC-20 token sold on Ethereum blockchain and in no way affects EOS token on EOSIO blockchain.

EOS is among the biggest single-digit gainers on the market on Tuesday, October 1. With a 3% gain value at the time of entering the European session, EOS has stepped above $3.0 resistance zone. The remarkable recovery follows a devastating downtrend from highs marginally above $4.2 to a low of $0.24 last week.

In the latest development, Block.one, EOS official developer has agreed to settle charges filed against by the US Securities and Exchange Commission (SEC) for the year-long initial coin offering (ICO) in 2017 where it raised billions of dollars. According to the SEC:

“The company agreed to settle the charges by paying a $24 million civil penalty.

Adding more details to the matter, the Co-Director of the SEC’s Division of Enforcement, Steven Peikin said:

“Block.one did not provide ICO investors the information they were entitled to as participants in a securities offering.”

Block.one neither confirmed nor denied the findings of the SEC’s report. However, the regulator did not specify any other charges against Block.one or EOS. Commenting on the matter, Block.one said:

“The settlement relates specifically to the ERC-20 token sold on the Ethereum blockchain”¦ which is no longer in circulation or traded, and will not require the token to be registered as a security with the SEC. The settlement resolves all ongoing matters between Block.one and the SEC.”