Tagged: initial coin offering

Texas Issues Emergency Cease and Desist Orders Against Three ICO Projects

The Texas State Securities Board (TSSB) has issued emergency cease and desist orders against three ICO/cryptocurrency projects soliciting investors in Texas: Coins Miner Investment Ltd., DGBK Ltd. (DigitalBank) and Ultimate Assets LLC. All three projects allegedly used misleading information to promote their projects, and none… Read More

Crypto Trading Platform Caspian Raises $16 Million in Token Pre-Sale

Caspian, a cryptocurrency trading platform targeting institutional investors, says it has raised USD $16 million a pre-sale of their CSP token. Investors take note: the initial coin offering is not available in both the US and China. A public sale is scheduled for October 3rd…. Read More

“The Case Will Proceed to Trial”:  Taking the RECoin / Diamond & Other ICO Actions One Step at a Time

As has been reported widely, digital token sales (sometimes referred to as initial coin offerings or ICOs) arguably are becoming increasingly important as a new form of capital raising.  To date, certain regulators (including the U.S. Securities and Exchange Commission (the “SEC”)) have provided ongoing… Read More

Official Says Russian Central Bank’s ICO Pilot a Success

Ivan Semagin, Deputy Director of the Financial Market Development at the Bank of Russia, told attendees at a finance and trade conference in Vladivostok this week that the Bank of Russia’s first “sandbox” trial of an ICO (intitial coin offering) blockchain system went well technically, though… Read More

US District Court Rules RECoin ICO May be Considered a Security, Crypto Industry Responds [u]

This past February, RECoin initial coin offering (ICO) Creator Maksim Zaslavskiy filed a motion to dismiss pertaining to a lawsuit brought against him by the federal government and his allegedly fraudulent offering. Zaslavskiy, via his attorney, argued in US District Court that tokens are not securities and… Read More

FINRA Charges “HempCoin” ICO-Issuer with “Unlawful Distribution of Cryptocurrency Securities”

FINRA announced today that it has charged the Massachusetts creator of the “HempCoin” ICO (initial coin offering) with securities fraud and, “the unlawful distribution of an unregistered cryptocurrency security…” FINRA, a Washington, DC-based self-regulatory organization of considerable might that presides over American securities brokers, claims that,… Read More

Ripple’s General Counsel Departs in Midst of Lawsuits

The lawyer Brynly Llyr will be leaving her post as Lead Counsel at remittance company Ripple, a Ripple spokesperson has confirmed to Quartz: “We’re grateful for all that she did to help build an incredible team…(and) wish Brynly all the best in her next endeavor…(T)he… Read More

Following Successful CoinList Offering, Origin Protocol will Sell Tokens to Wider Global Audience (Except in the US)

Last month, Origin Protocol reported on the results of its initial offering on CoinList. The company shared that it successfully raised over $6 million with $2 million of that amount being committed within the first 5 minutes of the offering. Today, Origin Protocol has shared… Read More

Advanced Blockchain Invests in WOM Token as Company Prepares for Dutch Auction Token Generation Event

WOM Token or “Word of Mouth” has received an investment from Advanced Blockchain AG for an undisclosed amount of funds. WOM Token Ltd. is said to be building a blockchain-based protocol that gives brands, content creators, and social networks a method to monetize word-of-mouth recommendations… Read More

Securities Commission Malaysia Orders Immediate Halt to LavidaCoin Initial Coin Offering

Following a notice from Securities Commission Malaysia last week that LavidaCoin may be in breach of securities law, the Commission has issued a notice for LavidaCoin to immediately halt the initial coin offering (ICO). Securities Commission Malaysia stated the promoter must cease all activities regarding… Read More

Balk? Fan Token Sale Now Expected to Move Forward on Entoro After Indiegogo Attempt

Last week, it was announced that Indiegogo, via its partnership with broker dealer Microinvest, was launching a security token offering (STO) for Aspen Digital. The “Aspen Coins” represent a single share in common stock offered under the Reg D 506c exemption for the St. Regis Aspen… Read More

Securities Commission Malaysia Reviews LavidaCoin ICO for Possible Breach of Securities Laws, Project Seeks $1.5 Billion

LavidaCoin: “Step Mother of Coin” The Securities Commission Malaysia (SC) has issued a statement on the initial coin offering (ICO) “LavidaCoin.” According to a report in the Independent, the cryptocurrency is the creation of a controversial Malaysia socialite who is well known in the country… Read More

Report: Indiegogo Announced ICO Offerings in December & Now they are Listing Aspen Digital Security Token

Indiegogo was conceived as an investment platform but got a bit ahead of securities law so it started as a rewards platform. Today, Indiegogo now offers securities crowdfunding via a partnership with Microventures.  Last December, Indiegogo announced it was moving into the initial coin offering… Read More

Union Bank in Liechtenstein to Issue its Own Securities Token in Crypto Industry First, Intends to Become Blockchain based Investment Bank

When it comes to crypto / blockchain announcements, tiny Liechtenstein is on a roll this week. Following the announcement of a new, regulated cryptocurrency exchange, Union Bank AG has announced it will issue its very own security tokens. This will be a first ever for… Read More

Even with a Reg D Filing, Unikrn ICO Hit with Class Action Lawsuit Filed by Stritmatter Law Firm

Unikrn, a blockchain based gaming platform that is associated with some big name backers like Mark Cuban, has been hit with a lawsuit filed in the Superior Court of Washington for King County this week. The allegation that the Unikrn initial coin offering (ICO) constituted… Read More

ICO Tokens & the SEC: You Can’t Even Give Them Away …. No, Seriously

Summary:    The SEC has issued a Cease & Desist Order and sanctions against a token issuer and its founder.  Among several findings, the SEC determined that the “Bounty Program” run by the issuer constituted a securities offering.  The Order states “a ‘gift’ of a… Read More

RegTech Platform iComply Announces Public Beta to Delivery Security Token Platforms & Exchanges Legitimacy

On Thursday, regtech company iComply Investor Services announced it is launching its public beta following the closure of a seven-figure seed round that was covered by Coindesk earlier this week. The company reported that its software combines KYC, AML, blockchain forensics, source of funds reporting, secondary trade… Read More

Tomahawkcoin: SEC Bans Alleged ICO Fraud Perp with Previous Criminal Conviction

The Securities and Exchange Commission has received a permanent ban on David T. Laurance and his Tomahawk Exploration LLC. Laurence attempted to raise money issuing a “Tomahawkcoin” (TOM) in an initial coin offering (ICO). While the ICO was not successful it tripped the fraud triggers… Read More

Blockchain Platform Enecuum Signs Cooperation Agreement with iCapital as it Plans Token Sale

  Enecuum, a blockchain platform with a capability of mobile mining, and iCapital based in Israel, have established a long term cooperation agreement, according to the firms. Hong Kong based Enecuum explains on their site: “Every smartphone on the network will participate in the publication… Read More

ORCA Alliance Easily Raises First ICO Stage of $1.5 Million for Crypto Friendly Banking APIs

ORCA Alliance is reporting that its initial coin offering (ICO) easily raised its $1.5 million target in just 50 hours. The Latvia based Fintech is building an “Open Banking” platform seeks to enable digital banking that is crypto friendly. In June, Orca reported it took… Read More

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