According to news on March 10, ParagonCoin, an encryption start-up company supported by American rapper Jayceon Terrell Taylor (stage name The Game), was deregistered by the US Securities and Exchange Commission (SEC) for failing to submit periodic reports and violating securities laws.
According to the SEC, the crypto company ignored delinquent letters from an SEC division regarding periodic reports. Additionally, the SEC noted that the crypto startup did not respond to its order to file the lawsuit in February 2022, and did not answer why it should be found in default five months later.
It is reported that ParagonCoin Limited is an encryption company focused on the cannabis industry. The SEC began to file a lawsuit against the company in February 2022, and pointed out that the company’s last document was filed in March 2019, which stated that it The annual loss exceeds 10 million US dollars.