IN BRIEF: California blockchain firm agrees to return proceeds from $25.5 mln ICO

A California blockchain services firm has agreed to return the proceeds from an unregistered $25.5 million initial coin offering to investors as part of a settlement with the U.S. Securities and Exchange Commission.

The SEC and San Jose-based BitClave PTE Ltd both announced the deal on Thursday. It resolves administrative charges announced by the SEC on the same day.

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