The Praetorian group, called "Crypto-Currency Real Estate Investment Vehicle" (CREIV), filed with of the US Securities and Exchange Commission (SEC) on March 6 to register its initial offering of $ 75 million (ICO) as a security offering.

If the SEC accepts their registration, the Praeotorian Group will hold the first ICO registered by the SEC.

The filing indicates that there will be 200 million PAX tokens of the Group on the Ethereum Blockchain, but that the company only records the 15 mln proposed in l & # 39; ICO. These tokens backed by real estate will be offered at a price of $ 5 per chip, payable to Ethereum (ETH), Bitcoin (BTC) Litecoin (LTC), which the company confusingly calls "accredited investors".

Under American Law, an accredited investor is one with some financial standing – securities offered only to accredited investors in the United States may qualify for exemption from SEC rule 506 (c) , such as the Telegram email application and the giant photo Kodak for their symbolic offers.

The filing refers to the uncertainty of the classification of ICOs as securities, but adds that they think it is more " cautious "to register with the SEC in any matter:

" Despite our belief that the PAX token may not constitute a guarantee, we feel the uncertainties of a point of Regulatory view that it is more prudent to consider the PAX token as a security and to follow with the regist rationing before the SEC and obtain the necessary approvals from the SEC as a registered title. "

The purpose of the CREIV is to purchase and develop residential and commercial properties that are dumped or located in "[19459005ThePretorianGroupfor"Objective investing in low-income areas that we believe should be value, infus cryptocurrency in these regions and fund "hedging programs" to enrich the quality of the joint hearing of the SEC and the Commodity Futures Trading Commission (CFTC) in February, the president of the SEC, Jay Clayton spoke about the need for stricter regulations for residents' lives. ICO and noted that each ICO that the SEC had seen so far is considered a security.