According to Cointelegraph, ParagonCoin, a crypto startup backed by American rapper Jayceon Terrell Taylor (stage name The Game), was deregistered by the U.S. Securities and Exchange Commission (SEC) for violating securities laws by failing to submit periodic reports.
According to the SEC, the crypto company ignored a delinquency letter from a division of the SEC regarding periodic reports. In addition, the SEC noted that the crypto startup did not respond to its order to file the lawsuit in February 2022, and did not respond five months later to explain why it should be considered in default.