Salt Lending (SALT) settles a cease-and-desist order with the SEC, receives a court order to register its token as securities and allow investors who participated in its $47m worth ICO to seek refunds. The value of SALT tokens more than doubled in value on the news, as the formerly speculative tokens now have court-ordered redemption value.

• The Sept. 30 court order between Salt Blockchain Inc, better known as Salt Lending, and the SEC details the proposed settlement.
• Salt Blockchain, Inc, is a privately-held Delaware corporation. It has settled accusations of violating section 5(a) and 5(c) of the Securities Act by offering and selling SALT tokens, without registering them with the SEC or qualifying for an exemption from registration.
• SALT raised approximately $47m during its ICO from U.S.-based investors, and then offered loans secured by blockchain assets on a limited basis to the public in early 2018.
• The crypto-backed loan provider published a statement saying that it will distribute a Claim Form to purchasers in accordance with the SEC Settlement soon.