Category: initial coin offering

UK Cryptocurrency Firms Turn to Equity Funding as ICO Coffers Plunge 70%

UK Cryptocurrency Firms Turn to Equity Funding as ICO Coffers Plunge 70%UK cryptocurrency and blockchain startups are turning focus back to conventional means of raising capital, as initial coin offering (ICO) coffers dry up. According to a new report, initial coin offering (ICO) funding last year plunged 71% to £200 million ($250 million) from £700 million ($875 million) a year earlier. By comparison, equity funding provided […]

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ICO Crackdown: 11 Class-Action Lawsuits Filed Against Cryptocurrency Companies

A number of class-action lawsuits have been filed against various digital asset firms and exchanges on Friday. The U.S.-based “litigation boutique,” Roche Cyrulnik Freedman, filed the lawsuit for three plaintiffs in the Southern District of New York. All three lawsuits claim that organizations like the Tron Foundation, Bitmex, Binance, Bibox and Block.one allegedly sold unregistered […]

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Malaysia Announces Digital Asset Guidelines

Malaysia Publishes Digital Asset GuidelinesThe Securities Commission Malaysia has published the country’s guidelines on digital assets which set out the regulatory framework for token sales. All token offerings must now be carried out only through platforms approved by the commission. The guidelines also detail the obligations of approved platforms as well as the requirements token issuers must meet. Also […]

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France Approves First ICO

France Approves Its First ICOThe French financial markets regulator, the Autorité des Marchés Financiers (AMF), has made its first initial coin offering (ICO) approval. While token sales remain legal as a fundraising option in France, only those that have been approved by the AMF may be marketed directly to the public. Also read: France Adopts New Crypto Regulation France’s […]

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Russia’s Hydra Darknet Marketplace Plans $146M Token Sale

Russia's Darknet Marketplace Hydra Plans Token Sale for $146MAccording to regional reports, the Russian darknet market Hydra is planning an initial coin offering (ICO) in order to expand the marketplace internationally. The sale is set to start on December 16 and Hydra administrators hope to raise $146 million from the token sale. Also read: Regulatory Roundup – Bitcoin Futures Fund Approved, India’s RBI-Backed […]

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SEC Imposes Multimillion Dollar Fine for Unregistered EOS Token Sale

SEC Imposes Multimillion Dollar Fines for Unregistered ICO and Stock TransactionsThe United States securities regulator has announced hefty fines for two crypto companies. The penalties have been imposed for EOS’ unregistered token sale and a fraudulent public offering. The Securities and Exchange Commission (SEC) intends to use some of the collected money to indemnify investors who suffered damages. Also read: SEC Commissioner Speaks Positively About […]

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SEC Chairman Confirms Cryptocurrencies Like Ethereum Are Not Securities

SEC Chairman Confirms Cryptocurrencies Like Ethereum Are Not SecuritiesOn March 12, the cryptocurrency and blockchain legislative advocacy group Coincenter published correspondence between the Securities and Exchange Commission (SEC) chairman Jay Clayton and representative Ted Budd. The letter explains that Clayton and the SEC’s staff analysis confirms that Ethereum and similar cryptocurrencies are not subject to securities laws. Also read: Cointext Adds the Ability […]

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Company Evades SEC Penalty Despite Illegally Issuing Security Tokens

Company Evades SEC Penalty Despite Illegally Issuing Security TokensThe U.S. Securities and Exchange Commission (SEC) has decided not to impose a penalty on a company that had issued security tokens without its approval and without qualifying for an exemption. The company raised approximately $12.7 million. Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval No Penalty The SEC announced on Wednesday […]

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ICO Treasuries Offloaded the Most ETH in November and December This Year

Over the Last Two Months ICO Treasuries Withdrew the Most ETHOver the course of 2018, failing initial coin offerings that raised billions last year have continued to dominate the news cycle. Despite ethereum losing more than two thirds of its value, ICO projects have been liquidating massive amounts of ETH. ICO treasuries cashed out 433,000 ETH ($52.4M) in December, surpassing every other month this year. […]

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Japan Unveils Plans to Regulate Initial Coin Offerings

Japan Unveils Plans to Regulate Initial Coin OfferingsJapan’s Financial Services Agency has held several meetings to discuss how to best regulate initial coin offerings. In addition to registration requirements, the regulator reportedly plans to amend two existing laws that can be applied to token sales. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Registrations and Law Changes The […]

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US State Takes Action Against Crypto Operation Imitating a Liechtenstein Bank

US State Takes Action Against Crypto Operation Imitating a Liechtenstein BankThe U.S. state of North Dakota has issued a cease and desist order against a cryptocurrency operation imitating a fully licensed bank in Liechtenstein. This operation goes by the same name as the token announced by the bank. Its website mirrors the bank’s website and its crypto announcement was identical to the bank’s, including a […]

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First Major Bitcoin Cash ICO Raises $30M in Record Time

First Major Bitcoin Cash ICO Raises $30M in Record TimeOn Oct. 8, 2018, the blockchain firm and mining pool Viabtc finished the first high-value initial coin offering (ICO) using the Wormhole protocol and Bitcoin Cash chain. According to exchange data, the Viabtc Token ICO raised US$3,700 per second capturing a total of $30 million in 2.2 hours. Also Read: Electron Cash Developer Reveals In-Wallet BCH […]

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Google Bringing Back Crypto Ads in US and Japan

Google Bringing Back Crypto Ads in US and JapanGoogle has announced that regulated cryptocurrency exchanges will be allowed to advertise on its platforms in the United States and Japan starting in October. This removes some of the restrictions the company placed on crypto ads in June. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals Some Crypto Ads Will Be Allowed […]

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Crypto-Flashbacks: How the Media Pumped the ICO Known as Paycoin

Crypto-Flashbacks: How the Media Pumped the ICO Known as PaycoinJust recently Josh Garza was sentenced to 21 months of prison and six months of home confinement for his role in the many Ponzi scams like Gaw Miners, Zen Miners, Hashlets, and of course the controversial Paycoin that appeared in 2014. Back then lots of people were scammed by Garza’s schemes but he had a […]

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SEC Takes Action Against ‘First US Regulated Crypto Asset Fund’

SEC Takes Action Against ‘First US Regulated Crypto Asset Fund’The U.S. Securities and Exchange Commission (SEC) announced on Tuesday that it has taken action against two cryptocurrency firms. Both mark the “first-ever” action of their kind by the Commission. One is against a firm which claims to offer the “first regulated crypto asset fund in the United States” and the other is against an […]

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Colorado Investigating Three Cryptocurrency Firms

Colorado Investigating Three Cryptocurrency FirmsThe Colorado Department of Regulatory Agencies is investigating three cryptocurrency firms for promoting unregistered initial coin offerings in the state. The investigations are part of a growing trend of fraudulent companies looking to make quick money. All three firms failed to show up at a hearing to present evidence as ordered by the Commissioner. Also […]

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Thailand Updates ICO Licensing Progress, Warns Firm Issuing Token Without License

Thailand Updates ICO Licensing Progress, Warns Firm Issuing Token Without LicenseThe Thai Securities and Exchange Commission has revealed the number of applications it has received from businesses wanting to operate initial coin offering portals in the country. However, at least one company is already issuing a token without obtaining approval. Meanwhile, the first Thai Stock Exchange-listed company to launch a token has a new plan […]

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Only Seven Crypto Firms Authorized to Legally Operate in Thailand

Only Seven Crypto Firms Authorized to Legally Operate in ThailandThe Thai Securities and Exchange Commission (SEC) has announced the names of seven cryptocurrency firms that have been authorized to legally operate in the country. Five of them are crypto exchanges; two are cryptocurrency dealers. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Seven Crypto Firms Authorized The Thai SEC has announced the names […]

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SEC Fines and Permanently Bars Founder of Fraudulent Oil Exploration Token

SEC Fines and Permanently Bars Founder of Fraudulent Oil Exploration TokenThe U.S. Securities and Exchange Commission (SEC) has taken action against an oil and gas exploration company and its founder who “perpetrated a fraudulent initial coin offering (ICO) to fund oil exploration and drilling in California.” The token sale failed to raise money but the tokens were issued as part of a bounty program, which […]

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ICO Regulations Round-Up: Fundraising Law, Jeju Island, Self-Directed IRAs

ICO Regulations Round-Up: Fundraising Law, Jeju Island, Self-Directed IRAsIn recent news pertaining to initial coin offerings (ICO) regulations, an EU report has advocated the regulation of ICOs according to crowdfunding legislation, the governor of Korea’s Jeju Island wants his jurisdiction to become a special economic zone regarding cryptocurrencies and blockchain, and the U.S. SEC has warned consumers regarding the risks of self-directed Individual […]

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‘Treasure Ship’ ICO Dupes Investors – South Korea Asks Interpol for Help

'Treasure Ship' ICO Dupes Investors - South Korea Asks Interpol for HelpSouth Korean police have asked Interpol for help with an investigation into the fraudulent token sale of Shinil Gold Coins that were claimed to be backed by the “treasure” on the sunken Dmitrii Donskoi. Local media reported that the sale raised an estimated $53.5 million from about 124,000 investors. Also read: Yahoo! Japan Confirms Entrance Into the Crypto […]

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