The US Securities and Exchange Commission has come after a Seattle-headquartered crypto eSports and gambling platform for its $31 million initial coin offering (ICO).

The SEC had alleged that the ICO constituted a sale of unregistered securities sale, and was thus illegal.

The company in question, Unikrn, agreed to pay a $6.1 million penalty to the SEC, who will then distribute the money back to investors, the SEC announced today.

This story is developing and will be updated.

Source: decrypt