The Security and Exchange Commission today has charged both a diamond and a real estate initial coin offering scheme with defrauding investors.
REcoin, which promoted itself as the first cryptocurrency-backed real estate company and DRC World, a diamond company, are owned by businessman Maksim Zaslavskiy. The SEC accuses Zaslavskiy of selling unregistered securities and coins that don't exist to unsuspecting investors, according to a statement from the SEC.