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EOS Price Spikes 10% as Block.One Agrees to Pay $24-Mln Fine to SEC

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    The EOS price has surged 10 percent on the news of Block.One agreeing to pay a $24-mln fine to SEC for conducting an unregistered ICO in 2018

Cover image via www.123rf.com
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On Tuesday, October 1, EOS.IO software developer Block.one shared the news that the company has reached a settlement with the US SEC on paying $24 mln as a fine in connection with the ICO that Block.One conducted between the summers of 2017 and 2018.

Block.One is going to pay the fine without either admitting or denying the SEC’s accusations on selling unregistered securities to investors.

The EOS price has surged 10 percent on the news, becoming the second largest-growing coin on the top 14 list after Tron (TRX) earlier today. However, at press time, EOS is showing only a 7-percent rise.

EOS Charts CMC 10/01/19
Image by Coinmarketcap
EOS Price CMC 10/01/19
Image by Coinmarketcap

Block.One settles the matter with the regulator

The SEC demanded a one-time fine to be paid concerning the ICO conducted on Ethereum before EOS launched its own mainnet and the ERC-20 tokens migrated to it.

Since those coins are no longer in circulation, the SEC does not require them to be registered as securities.

Block.One has commented on the matter as follows:

We are excited to resolve these discussions with the SEC and are committed to ongoing collaboration with regulators and policy makers as the world continues to develop more clarity around compliance frameworks for digital assets.

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EOS recent hard fork

As reported by U.Today recently, on September 23, Block.One conducted an EOSIO hard fork to implement the EOSIO v1.8.

The EOSIO team called that the biggest upgrade on the network so far.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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