Tagged: ico

Canadian Court Upholds Vanbex Asset Seizure

A British Columbia Supreme Court judge has upheld an asset seizure from Lisa Cheng and Kevin Hobbs, principles of a “blockchain consultancy” called Vanbex, who, according to the Royal Canadian Mounted Police (RCMP), conducted an allegedly fraudulent $30 million CAD ICO (Etherparty/FUEL), “…by falsely representing corporate… 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

Colu Group Offers to Buy Back ALL Tokens Issued in ICO, Does Not Use Blockchain Tech for Current Projects

This is something you do not see that often – a company offering to buy back all of the tokens (CLN) issued in an initial coin offering. Colu DLT, a subsidiary of Colu Group based in Gibraltar, has issued a release stating it will “voluntarily… 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

NASAA Reports Increase in Cryptocurrency Fraud Identified by State & Provincial Regulators

130 Crypto Investigations Have Been Launched in the US and Canada The North American Securities Administrators Association (NASAA), the lobbying association representing state and provincial securities regulators, says there has been an increase in crypto-related fraud as “investors and con artists alike have returned to… Read More

Crypto Valley – PwC Report: $3.3 Billion Raised via Token Offerings in 2019

PwC and the Crypto Valley Association have recently published an “ICO/STO Report” covering the first five months of 2019. According to the report, since the beginning of the year 250 token offerings have raised $3.3 billion. The largest funding rounds came from Bitfinex at $1… 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

SEC Goes Public with Kik – Kin ICO Lawsuit Alleging Sale of Unregistered Securities

The Securities and Exchange Commission (SEC) has publicly announced its lawsuit against Kik Interactive for conducting an illegal $100 million securities offering of “Kin” digital tokens in an initial coin offering (ICO). The legal action should come as no surprise to industry followers as Kik… Read More

Rwandan Central Bank Issues Warning Against “Pyramid Schemes, Network Marketing Programs and Scam Coins”

John Rwangombwa, Governor National Bank of Rwanda (BNR), has issued a notice alerting Rwandan citizens, “to the existence of investments scam(s)…operating in Rwanda (through locally-registered businesses or from abroad through online platforms).” The warning also states that pyramid, multi-level marketing and fake initial coin offering… Read More

The Australian Securities and Investment Commission Updates Information on ICOs and Crypto Assets: Operate Lawfully

The Australian Securities and Investment Commission (ASIC) has updated regulatory information pertaining to initial coin offerings (ICOs) and crypto-assets. In a release, ASIC recommended that businesses engaged in crypto “consider their legal obligations and satisfy themselves they are operating lawfully.” ASIC stated that their recent… Read More

Kik Battle Line: DefendCrypto Fund Seeks to Challenge the SEC & Current Regulatory Approach with Crypto

Kik Interactive Inc., a company based in Canada, raised about $100 million selling Kin tokens in an initial coin offering (ICO) during the midst of the hot crypto issuance market in 2017. First sold to accredited investors in a SAFT, once the platform was functional,… Read More

SEC Sues Daniel Pacheco, Purveyor of Alleged $26.5 Million Crypto Pyramid Scheme “IPro”

The SEC has filed a civil suit against Daniel Pacheco, 45, of San Clemente, California, alleging he pervaded a cryptocurrency-based pyramid scheme called “IPro” that collected more than $26.5 million USD from investors: “The SEC’s complaint, filed Wednesday, alleges that from January 2017 through March… Read More

SEC Halts Diamond Related ICO, Charges Crypto Business Argyle Coin & Jose Angel Aman with Multi-Million Ponzi Scam

The Securities and Exchange Commission (SEC) has receved another emergency court order halting an alleged initial coin offering (ICO) fraud. According to the SEC, a $30 million Ponzi scheme, led by South Florida-based Argyle Coin, and its principal Jose Angel Aman, targeted over 300 US… Read More

Loi Pacte: France to Allow Initial Coin Offerings which are Not Securities Beginning in June

The French France

Crowdfund Insider has just received a note that the Loi Pacte (Pacte Law) has been finalized and will become actionable beginning in June. The new regulatory regime will enable initial coin offering (ICO) issuers to raise capital online and sell digital assets which are not… Read More

Civil Case Dismissed: DJ Khaled, Boxer Floyd Mayweather and Two Others Escape Liability for Touting Centra Tech ICO

A civil case brought by investors against former heavyweight boxing champion Floyd Mayweather and celebrity DJ Khaled alleging they induced their social media followers to buy into a fraudulent ICO (initial coin offering) has been dismissed. Allegations of touting unregistered securities were also dismissed against… Read More

As Founder Plagued by Lawsuits, “Blockchain Phone” Maker Sirin Labs Lays Off Staff

Sirin Labs, a “blockchain smartphone” company that raised $255 million in two ICOs, has confirmed it is laying off employees, Israeli news outlet Globes reports. Contrary to media reports of larger numbers let go, Sirin Labs says it is only laying off 15 of 60… Read More

Is the No Action Letter for TurnKey Jet a No-Action Non Event? Doug Ellenoff Comments on SEC Digital Asset Statement and STO Framework

Last week, the Securities and Exchange Commission (SEC) moved forward on clarifying their position regarding digital assets. First, a No-Action Letter (NAL) was released pertaining to the issuance of a token by TurnKey Jet. In a tightly defined issuance, Turnkey was deemed not to be… Read More

Send this to a friend