The U.S. Securities and Exchange Commission (SEC) announced on August 3rd that it has taken action against Digital Licensing Inc., which operates a business called "DEPT Box" based in Draper, Utah, and 18 of its executives implicated in fraudulent activities. The SEC stated that these individuals duped investors into buying "node licenses", which are unregistered securities, via hundreds of videos, social media posts, and offline events in March 2021. The 18 defendants allegedly colluded in the sale of unregistered securities, illegally garnering $50 million, along with an undisclosed amount of Bitcoin and Ethereum. On July 28, Utah District Court Judge Robert Shelby ordered the freezing of assets and bail, in line with the SEC's request.
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