Tagged: ico

Judge Castel: Telegram Fails to Establish Exemption from Registration

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

Yesterday, in an Opinion and Order from Judge P. Kevin Castel, it was decided that Telegram has failed to establish an exemption from the registration requirement under existing securities law. Telegram is an app that is a highly popular messaging service utilized by more than… Read More

Asset Freeze: SEC Shuts Down Alleged Meta 1 Coin Digital Asset Scam the Involved Former Washington State Senator

The Securities and Exchange Commission (SEC) has shut down an alleged “ongoing securities fraud” orchestrated by former Washington state Senator David Schmidt along with two Florida residents, Nicole Bowdler and Robert Dunlap – who was doing business as Clear International Trust. The SEC said that… Read More

France: AMF Publishes Legal Analysis on Security Tokens, Proposes a Path for European Utilization

The Autorité des Marchés Financiers, the main securities regulator in France, has published a legal analysis of security tokens. France is already known for its initial coin offering (ICO) friendly ecosystem where utility tokens (not securities) may be issued and traded in a compliant environment…. Read More

Actor Steven Seagal Settles with the SEC Regarding “Unlawful” Digital Asset Offering in Bitcoiin2Gen ICO

Actor Steven Seagal is apparently not above the law. At least when it comes to promoting an investment in an initial coin offering (ICO), according to the Securities and Exchange Commission. In a release, the SEC said it has settled charges against Seagal for his… Read More

ICO Issuer Enigma MPC Settles with the SEC, Will Return Money to Investors,

Enigma MPC, formerly known as Newton Security Labs, has settled charges leveled by the Enforcement Division of the Securities and Exchange Commission regarding an initial coin offering (ICO). The SEC had accused Enigma of conducting an unregistered securities offering. Enigma raised $45 million by selling… Read More

The SEC Charges Opporty International & Founder Sergey Grybniak with Fraudulent ICO

The Securities and Exchange Commission (SEC) has charged Sergii “Sergey” Grybniak and his company Opporty International, Inc. for an allegedly fraudulent initial coin offering. According to the SEC, Grybniak and his company raised $600,000 from around 200 investors during the sale of unregistered “digital asset… Read More

Another Alleged Scam ICO: SEC Pursues “Convicted Criminal,” Boaz Manor, Who Offered Fraudulent Initial Coin Offering

The Securities and Exchange Commission (SEC) has announced another enforcement action targeting a bogus initial coin offering (ICO). According to a release, the SEC has charged convicted criminal Boaz Manor, his business associate, and two businesses, CG Blockchain Inc. and BCT Inc. SEZC, with raising… Read More

SEC Seeking Default Ruling Against AWOL ICOBox Founder Nikolay Evdokimov

The US Securities and Exchange Commission (SEC) is seeking a default judgment against Nikolay Evdokimov and his Cayman Islands firm ICOBox. The agency is also seeking permanent enjoinment of Evdokimov and ICOBox, a $16,059,428.99 disgorgement and a civil penalty against Evdokimov of about $190 000… Read More

SEC: Invoices Show Telegram Sold Tokens Through Brokers After Initial Raise

In the SEC’s January 2nd letter requesting compulsion of bank records from private messaging app provider Telegram, the regulator claimed it had documents showing that Telegram, “paid commissions to purchasers who were buying Grams to resell to other investors…” Brokered sales, the SEC wrote, “render… Read More

Former Member of SEC’s Cyber Unit Comments on Telegram Enforcement Action: Did Telegram Fully Comply with Reg D?

Telegram, issuer of one of the highest-profile token offerings of all time that raised $1.7 billion, is in the midst of a protracted legal battle with the Securities and Exchange Commission (SEC). Last October, the SEC filed an emergency action and obtained a temporary restraining… Read More

Judge Allows Telegram to Submit Proposed Banking Disclosure Schedule in SEC Enforcement Case

The judge presiding over an SEC case alleging Telegram sold unlicensed securities has denied the SEC’s request for immediate disclosure of bank records relating to Telegram’s $1.7 billion sale of GRAM cryptographic tokens. Instead, Judge P. Kevin Castel has ordered the private messaging company to, “set… Read More

SEC Seeking to Compel Bank Records Regarding Telegram’s $1.7 Billion Token Sale

The US Securities and Exchange Commission (SEC) has asked a judge to order Telegram to submit bank records detailing how it has been spending $1.7 billion USD it raised from investors in 2018, Finance Magnates(FM) reports. Telegram is currently contesting emergency orders obtained by the… Read More

France: Autorité des Marché Financiers Approves First Utility Initial Coin Offering

The French Autorité des Marché Financiers (AMF) has qualified its first “Visa” for an issuer seeking to promote and pursue and an initial coin offering (ICO). Updated rules regarding utility type tokens were recently approved under the Loi Pacte (Pacte Law) – an act of… Read More

SEC Says ICO Issuer Blockchain of Things will Return Funds to Investors, Register Tokens as a Security

The Securities and Exchange Commission reports that it has settled charges against Blockchain of Things Inc. (BCOT) for conducting an unregistered initial coin offering (ICO). The order requires BCOT to cease and desist from committing or causing any violations of the registration provisions of the… Read More

SEC Charges Shopin ICO Founder Eran Eyal with Selling $42.5 Million in Unregistered Securities

The US Securities and Exchange Commission (SEC) has charged Shopin founder Eran Eyal with violating antifraud and registration provisions of federal securities laws in an ICO (initial coin offering) sale. The SEC says Eyal raised $42.5 million USD selling Shopin cryptographic or “blockchain” tokens to… Read More

So Far, Not a Single ICO has been White-Listed by the Autorite des Marches in France

The “Loi Pacte” was approved by the French government earlier this year. the new law included multiple policy moves designed to improve the overall competitiveness of the French economy. As part of the legislation, France created bespoke rules for initial coin offerings. Under French law,… Read More

Report: Some Crypto Firms that Settled with the SEC May Not be Able to Cover Mandated Settlements

Some cryptocurrency firms that were the target of the Securities and Exchange Commission Division of Enforcement may not be able to adhere to the agreed-upon settlements, according to WSJ.com. Paragon and Airfox are both mentioned in the report. The two companies were deemed to have… Read More

Telegram Files Response to SEC Action Blocking US Token Sales

Lawyers for Telegram have responded to the SEC complaint that led a judge in October to temporarily forbid the sale of GRAM tokens to retail investors in the US. Telegram, provider of a popular encrypted messaging app (Messenger) that permits anonymous communicating, was started by… Read More

New York District Court Postpones Telegram’s TON Hearing to February 2020

The US District Court for the Southern District of New York postponed the hearing regarding the Securities and Exchange Commission’s (SEC) injunction filing against London-based encrypted messaging service provider Telegram.  The hearing has been scheduled to take place on February 18–19, 2020. Telegram’s management had… Read More

Seamico Securities Gets Green Light from Thai SEC to Fire Up ICO Portal

Seamico Securities, which has been awaiting the green light to fire up an ICO portal called SE Digital inThailand, says it has been informed by the Thai Securities and Exchange Commission that it may, “initiate its business.” As per a letter hosted on the Seamico… Read More

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