Tagged: initial coin offering

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

Telegram Enforcement Action: “A reminder that the SEC not only has considerable enforcement tools but is willing to use them”

Last week, Crowdfund Insider reported on the Securities and Exchange Commission (SEC) enforcement action against Telegram and the issuance of Gram tokens. The move by the SEC is a doozy and telling. First, Telegram sold about $1.7 billion in a SAFT (simple agreement for future… Read More

Plexcoin ICO Hit with $7 Million Final Judgement in SEC Enforcement Action

It has been a big week for enforcement actions at the Securities and Exchange Commission (SEC). Beyond the routine fraud cases, the SEC Division of Enforcement has announced settlements with several high profile initial coin offerings (ICO). Today, the Plexcoin ICO landed squarely in the… Read More

Siacoin Makers Settle with SEC, Pay $225K Fine for Issuing Unregistered Securities

Without admitting or denying anything, Nebulous, a company that raised $120,000 USD in two early-days digital token sales, has settled with the SEC and agreed to pay approximately $225,000 USD in disgorgements and penalties. Nebulous maintains the Sia Network, a “decentralized cloud storage platform…more robust… Read More

Block.one, Creator of EOS Blockchain, Pays $24 Million Fine to SEC for Conducting $4 Billion ICO, Company “Excited to Resolve” Issue

EOS.io on iPhone

The US Securities and Exchange Commission (SEC) has settled charges against Block.one, high-profile creator of the blockchain network EOS, for allegedly conducting an unlicensed multi-billion USD ICO (initial coin offering) crowdsale. Block.one has agreed to pay a $24 million USD civil penalty: “The Securities and… Read More

Report: Embattled ICO-Issuer Kik Closing Down Messaging App

Two individuals who requested anonymity are claiming that Kik has begun disbanding the Isreali subsidiary responsible for running its messaging app, CalcalistTech reports. According to the outlet: “The company is moving all the app’s users to alternative platforms…The 70 employees of Kik’s Israeli cryptocurrency subsidiary… Read More

More ICO Fraud: SEC Charges Jonathan C. Lucas and Fantasy Market, an Adult Entertainment Marketplace, for Fraudulent ICO

The Securities and Exchange Commission (SEC) has filed its latest complaint targeting another allegedly fraudulent initial coin offering (ICO). According to a release, the SEC has charged Jonathan C. Lucas, the former founder and CEO of Fantasy Market, an online adult entertainment marketplace, with orchestrating… Read More

ICOBox and Founder Nikolay Evdokimov Sued by Securities and Exchange Commission Targeting $14 Million ICO as Illegal Securities Offering

ICO Securities Fraud The Securities and Exchange Commission (SEC) has continued its long march of enforcement actions regarding initial coin offerings (ICO) and the platforms that supported them. According to the SEC, ICOBox and founder Nikolay Evdokimov conducted an “illegal $14 million securities offering of… Read More

Another Lawsuit Filed Against Vancouver Crypto Consultancy Vanbex

Vanbex principles Lisa Cheng and Kevin Hobbs, chief architect Brian Onn, developer Jeffery Walsh and TD bank have been named in a class action suit filed in the Supreme Court of British Columbia August 26th by two BC residents who say the lost $30 000… Read More

SEC Settles Fraud Charges Filed Against Crypto Exchange Bitqyck and its Founders, Claims $13 Million in Unregistered Securities Offering

The Securities and Exchange Commission (SEC) has settled charges with Bitqyck Inc. and its founders, Bruce Bise and Sam Mendez. The SEC alleges that Biqyck and its founders defrauded investors and operated an unregistered exchange. Bitqyck also created and maintained its own online trading platform… Read More

Colu Gives ICO Money Back: Apparently, Companies Can Do the Right Thing Without a Regulator Telling Them What to Do

Colu Group Offers to Buy Back ALL Tokens Issued in ICO The key role and responsibility of financial regulators is to identify and correct market deficiencies that have an adverse effect on investors and end-clients. For this reason, regulators are especially sensitive to corporate conduct… Read More

Paragon Coin Starts Processing SEC Mandated Refunds for Money Raised via ICO

Paragon, a Cannabis-focused company that completed an initial coin offering (ICO) that was determined to be an offering of unregistered securities by the Securities and Exchange Commission (SEC), has begun accepting applications for investor refunds. According to a recent update on the Paragon site, the… Read More

Unauthorized Telegram Token Secondary Market Transferring Risk

Accredited investors who bought into Telegram’s $1.7 billion USD ICO (initial coin offering) in February and March 2018 have been selling the tokens in secondary markets without authorization, meaning buyers could “end up with nothing,” Coindesk reports. According to a GRAM token purchase agreement obtained… Read More

SEC Settles with Blockchain based Health Care Platform SimplyVital Health in Regards to Initial Coin Offering

The Securities and Exchange Commission (SEC) filed an Administrative Proceeding earlier this week regarding an initial coin offering (ICO) affiliated with SimplyVital Health – a company that pursued an ICO in late 2017 and early 2018. The SEC claims that SimplyVital sold unregistered securities. SimplyVital… Read More

SEC Freezes $8 Million from Alleged Bogus ICO & Manipulation Fraud Perpetrated by Reggie Middleton [u]

The Securities and Exchange Commission (SEC) Enforcement Division has announced charges against Reginald “Reggie” Middleton who allegedly engaged in fraud related to a digital securities offering. The courts have granted an emergency freeze on $8 million in assets of a reported $14.8 million that Middleton… Read More

Nova Scotia Issues Investor Alert Against “aGifttoken” ICO Sale

The Securities Commission in the Canadian province of Nova Scotia has issued an alert warning local investors to be wary of a crypto project/ICO sale called aGiftoken, which is not licensed to sell securities in the region. aGifttoken is now selling a 10-20 million AGT tokens… Read More

France Perspective: Philippe Dardier of Avolta Partners Discusses Blockchain.io ICO

France is a country that is seeking to position itself as a jurisdiction of preference when it comes to blockchain technology and the issuance of digital assets. Blockchain innovation has been aided by vocal government support and new legislation signed into law that allows for… Read More

Algorand Raises $60 Million in Token Auction

Singapore based Algorand successfully raised $60 million in a dutch auction token sale this week. The Algorand Foundation said the auction was “met with overwhelming demand” as they distributed the first 25 million Algos to global auction participants. Algorand boldly claimed this was the “start… Read More

Coinbase, Circle Disappear from DefendCrypto List of Supporters

In the wake of the Security and Exchange Commission’s (SEC) enforcement action against Kik and the Kin initial coin offering (ICO), it appears that Coinbase’s name, as well as Circle’s, has been scrubbed from the list of supporters on the DefendCrypto website. DefendCrypto was concocted… Read More

Send this to a friend