The SEC has announced the distribution of over $4.6 million to investors affected by the BitClave ICO collapse. This reimbursement includes both principal amounts and interest for eligible investors.
In 2020, the SEC filed a lawsuit against BitClave over alleged securities law violations during its 2017 $25.5 million fundraising campaign. The BitClave Fair Fund was established to compensate the affected investors, and $4.6 million was recently distributed to the participants.
Following the completion of the claim review process in March, this move represents a significant step toward restitution for those impacted by the ICO.
In related developments, changes in the SEC's stance on cryptocurrency regulation are anticipated with the potential exit of Chair Gary Gensler and new pro-crypto appointments under Trump's administration.
