Tagged: initial coin offering

SEC Commissioner Hester Peirce Comes to the Defense of Unikrn and ICO Settlement

Earlier today, the Securities and Exchange Commission (SEC) announced a settlement with Unikrn, a digital asset issuer that was deemed to have transgressed securities law in the offering of an unregistered security via an initial coin offering (ICO). Unikrn agreed to pay a $6.1 million… Read More

Unikrn Tokens are “Retired” as Company Settles with SEC Regarding Initial Coin Offering

Unikrn, a token issuer that attempted to remain compliant while issuing digital assets, has settled with the Securities and Exchange Commission (SEC) regarding allegations of an unregistered initial coin offering (ICO) of digital securities. Unikrn is an eSports and gaming platform launched in 2014. According… Read More

SEC Charges Film Producer Ryan Felton, Rapper/Actor Clifford Harris and Others for Participation in ICO Fraud

The Securities and Exchange Commission (SEC) has leveled charges pertaining to fraudulent initial coin offerings (ICO) against film producer Ryan S. Felton, rapper and actor Clifford Harris, Jr., or “T.I. or Tip,” and three others who apparently promoted one of Felton’s two unregistered and ICOs…. Read More

Cannabis Crypto: Paragon Coin Class Action Lawsuit Poised to Move Forward

Paragon Coin, and its affiliated initial coin offering, is pretty emblematic of the ICO heyday when any token could raise money based largely on a white-paper and effective marketing campaign. While it is hard to accurately discern, Paragon issued the PRG token raising around $12… Read More

SEC Issues Cease & Desist, Remedial Sanctions in Settlement Against Boon.Tech and ICO

The Securities and Exchange Commission (SEC) has announced charges against Boon.Tech and its CEO Rajesh Pavithran alleging fraud and registration violations in connection with a $5 million initial coin offering (ICO). According to the SEC’s order, from November 2017 to January 2018, Boon.Tech raised approximately… Read More

SEC: Final Judgement Received in Alleged Fraudulent Initial Coin Offering by Eran Eyal

The Securities and Exchange Commission (SEC) has obtained a final judgment in an enforcement action against Eran Eyal, the founder and former chief executive officer of UnitedData, Inc., DBA Shopin, for conducting an allegedly fraudulent initial coin offering (ICO). Towards the end of 2019, the… Read More

First Regulated Utility Coin Issued in France, FICO Trades on Zebitex

As was previously announced, FICO or French-ICO has commenced trading on the Toulouse, France based cryptocurrency exchange Zebitex. French-ICO is a primary issuance platform for firms interested in raising capital via a digital asset offering. FICO was the very first initial coin offering (ICO) to… Read More

Another ICO Returns Money to Investors as SEC Files Charges Against BitClave for an Unregistered Digital Security Offering

BitClave, a blockchain-based firm that completed an initial coin offering (ICO) for “Consumer Activity Tokens” (CAT) in 2017, has agreed to return investor money, according to the Securities and Exchange Commission (SEC). This is just the latest ICO that has had to backtrack on a… Read More

Another Lawsuit Filed Against Block.one for Allegedly Collecting $200 Million+ in Funds in an Illegal Manner

Investors are reportedly looking to recover funds they had invested in EOS tokens, which they did through the record-breaking $4.1 billion initial coin offering (ICO) conducted by Block.one, the Cayman Islands-registered software developer that created EOS, one of the largest platforms for building decentralized applications… Read More

France: Second AMF Approved Initial Coin Offering is For WPO’s GreenToken – a Tradable Utility Token

France has created a unique regulatory regime for the issuance and trading of digital assets that are utility tokens. Under French law, an initial coin offering (ICO) issuer may apply for a “visa” to offer a utility token. If approved, the issuer may publicly promote… Read More

Telegram to Refund Money from GRAM ICO? Perhaps.

Last Thursday, a letter posted on the Russian website of SmartLab said that Telegram will offer GRAM purchasers the option to receive their money back as the deadline for the issuance of the tokens had passed. Telegram has been in an ongoing legal battle with… Read More

Next: The SEC Hits Dropil and Founders with Charges Regarding Unregistered Initial Coin Offering

The long march of crypto enforcement actions continued today when the Securities and Exchange Commission (SEC) revealed charges against Dropil and founders Jeremy McAlpine, Zachary Matar, and Patrick O’Hara pertaining to an initial coin offering (ICO). As has become fairly commonplace, the SEC is alleging… Read More

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

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

ICOBox: SEC Obtains Default Judgement on $14.6 Million Illegal Securities Offering, Allegedly Failed to Register as Broker While Facilitating $650 Million in ICOs

The Securities and Exchange Commission (SEC) has received a default judgment against ICOBox and founder Nikolay Evdokimov for conducting an illegal $14.6 million securities offering. In a release, the SEC said that Judge Dale S. Fischer of the United States District Court for the Central… 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

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