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Posts Tagged ‘ICO’

US SEC Halts Fraudulent ICO That Claimed to Possess Regulator’s Approval

The U.S. Securities and Exchange Commission (SEC) has halted a planned Initial Coin Offering (ICO) that falsely claimed have SEC approval, the agency reported in an official press release Thursday, Oct. 11. The SEC suspended the ICO project with an emergency court order, and also halted pre-ICO sales by the company Blockvest LLC, and its…

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Regulators Sue ICO Company That Falsely Claimed SEC Approval

The Securities and Exchange Commission said Thursday that it secured an emergency court order against an initial coin offering and its organizer who had claimed to have received approval from the agency. According to the Oct. 11 statement, Reginald Buddy Ringgold allegedly claimed that the ICO was given the green light by regulators. Ringgold and BlockVest,…

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South Korea to Decide on ICO Legality in November, Official Says

The South Korean government will make a decision in November on whether it will allow initial coin offerings (ICOs) again in the country, a top-level official has said. Hong Nam-ki, head of the office for government policy coordination, told lawmakers during the National Assembly’s annual audit on government actions that regulators in the country have…

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One Big Backer Is Propping Up Media Startup Civil’s Struggling ICO

The token sale for Civil, the ConsenSys-backed company putting journalism on the blockchain, has brought in $1.34 million toward its $8 million minimum, according to a transparency report released today by the company. The company is pre-selling allocations of its consumer token, dubbed CVL, in the run-up to the launch of its blockchain-fueled journalism platform.…

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SEC Asks Court to Enforce Subpoena in ICO Inquiry

The Securities and Exchange Commission said Tuesday that it has asked a U.S. district court to enforce a subpoena as part of a probe into alleged pump-and-dump tactics that involved claims of a $100 million initial coin offering (ICO). According to the October 9 statement, officials at the U.S. regulator are investigating Saint James Holding and…

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ICO Fundraising Decline Continues as Funding Hits 17-Month Low

Cryptocurrency Initial Coin Offerings (ICOs) failed to surpass the $300 million fundraising mark for September 2018. ICO fundraising is now at its lowest point since mid-2017 as the crowdfunding scene continues to mirror the decline of the broader virtual currency market. Cryptocurrency ICO Fundraising Falls Below $300 Million in September 2018 According to Bloomberg, cryptocurrency…

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European Securities Regulator to Report on ICO Rules by 2019

European regulators are determining whether to regulate initial coin offerings (ICOs) as securities sales on a case-by-case basis, Reuters reported Monday. European Securities and Markets Authority (ESMA) chair Steven Maijoor told the European Parliament economic affairs committee that some ICOs resemble financial instruments, which would place them within a specific regulatory framework. However, the regulator…

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Lithuania Voices Concern Over ICO, Crypto Trading

Lithuanian authorities held a seminar examining the “threats and potential benefits” of Initial Coin Offerings (ICO) to the country’s economy, a press release reported Wednesday, October 3, amid an ongoing investigation into cryptocurrency trading habits. The Financial Crime Investigation Service (FCIS) organized the meeting, which included representatives from government ministries, the central bank, and the…

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Clients File Claim Against Publicly Listed ICO Advisory Firm DigitalX

Crypto firm DigitalX Ltd. has been served with an Originating Application and Statement of Claim. The claim was filed by a group of DigitalX’s clients in Australia’s Federal Court, according to an official announcement published September 28. DigitalX describes itself as a publicly-listed firm that offers Initial Coin Offering (ICO) advisory services, blockchain consulting services…

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US Lawmakers Ask SEC to Clarify ICO Regulations

A group of U.S. lawmakers are asking Securities and Exchange Commission (SEC) chairman Jay Clayton to clarify when initial coin offerings (ICOs) are considered securities sales. In the letter, Representatives Ted Budd, Warren Davidson, Tom Emmer and Darren Soto, along with 11 co-signers, request that Clayton clarify how it is approaching token sales, saying that…

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