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Posts Tagged ‘ICO’

South Korean Startup Presto to File Constitutional Appeal Against Local ICO Ban

A South Korean blockchain startup, Presto, will reportedly file a constitutional appeal over the county’s ban on Initial Coin Offerings (ICOs), South Korean economic media outlet Sedaily reports Dec. 6. Presto claims on its website that it provides a “total solution to development teams from website building to token issuing.” The startup was reportedly trying…

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Japan’s Financial Regulator to Introduce New ICO Regulations

Japan’s financial regulator is set to introduce new Initial Coin Offering (ICO) regulations to protect investors from fraud, local news outlet Jiji Press reported Dec. 1. According to “informed” sources cited by Jiji, business operators conducting ICOs will be required to register with Japan’s Financial Services Agency (FSA). The agency is reportedly planning to submit…

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US SEC Charges Floyd Mayweather Jr and DJ Khaled for Unlawfully Promoting ICO

The U.S. Securities and Exchange Commission (SEC) has charged professional boxer Floyd Mayweather Jr. and music producer Khaled Khaled for unlawfully advertising Initial Coin Offerings (ICOs), according to a press release published Nov. 29. Per the announcement, the SEC found that Mayweather did not disclose promotional payments from three ICO issuers, including $100,000 from cryptocurrency…

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SEC Fines Floyd Mayweather, DJ Khaled for ICO Promotions

The U.S. Securities and Exchange Commission (SEC) has settled charges with professional boxer Floyd Mayweather Jr. and music producer Khaled Khaled – better known as DJ Khaled – for not disclosing that they were paid to promote initial coin offerings (ICOs). Announced Thursday, the regulator said that Mayweather received $100,000 from Centra Tech, as well…

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STOs Are Now Much ‘Sexier’ as The ICO Party Ends

There’s a new “sexy” in cryptoville and it goes by the name of STO. So if you want to avoid enormous fines, a lengthy stretch in the slammer, or an outright ban, here’s what you need to know. The rundown: ICOs are banned in some parts of the world and getting clamped down on in…

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The Making of the First US ICO Fraud Case

In common law systems, it is precedent that informs judicial approaches to new and previously unaddressed matters. The precedent that will likely shape the body of U.S. case law on fraudulent initial coin offerings (ICOs) is currently being forged in a federal court in the New York borough of Brooklyn, where a 39-year old entrepreneur,…

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Is the ICO party over in the US?

Earlier this month on November 16th, the US Securities and Exchange Commission (SEC) instructed two crypto startups — Airfox and Paragon Coin — to register their tokens as securities. The SEC argues that the two ICO’s had not registered their tokens as security offerings. As neither qualified for exemptions, they are therefore violating registration rules…

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Russian ICO That Impersonated Bank Hit With Cease-and-Desist

North Dakota’s securities watchdog has issued a cease-and-desist order against a Russia-based initial coin offering (ICO) that appeared to impersonate Liechtenstein-based Union Bank AG to promote “unregistered and potentially fraudulent securities.” On Monday, Karen Tyler, commissioner of the North Dakota Securities Department, said that the website of the supposed ICO project – called Union Bank Payment…

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ICO Performance in Q3 2018 Saw ‘Overall Disappointment,’ Study Shows

Initial Coin Offering (ICO) performance was in part characterized by “overall disappointment” in the third quarter of 2018, according to a study from ICO analysis firm ICORating published Nov. 15. As the report states, Q3 2018 saw 597 ICOs raise over $1.8 billion, a notably lower value than the over $8.3 billion reportedly raised in…

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