President of tZero, a subsidiary of Overstock, Joseph Kammarata, claims that they "did not receive subpoenas".
The US Financial Regulator for the Securities and Exchange Commission conducted an audit of the company's activities for violation of federal laws on promotion of shares in the initial placement.
According to the published documents, the firm's efforts are aimed at attracting investments through the use of ICO.
Joseph Kammarata: Overstock eagerly contributes to the SEC
In addition, the head of tZero said that his company is outside great investigation Commission in respect of the ICO.
He stressed that the special attitude on the part of the regulator is due to the firm's compliance with the SEC's instruction on storing tokens as Reg. D, which provides an increased level of transparency of the transaction.
However, it should be borne in mind that the investigation of tZero was carried out by the Law Enforcement Division, which usually only participates in identifying specific problems during previous inspections, Coindesk reports.
Author: Vasilisa Ming, Analyst Freedman Club Crypto News
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