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In the bull market of 2018, initial coin offering (ICO) projects in the crypto market raised tens of millions of dollars on average from investors in the public market to create decentralized applications (dApps) and systems. Fast forward 12 months, most of the ICO projects that currently exist in the sector have either have no
The post Analyst: Crypto ICOs in Crisis, Running Out of Money With No Products appeared first on CCN
Republican Congressman Warren Davidson, an avowed bitcoin adn blockchain fan, plans to introduce federal legislation that will regulate initial coin offerings (ICO) and cryptocurrencies. The bill would create an “asset class” for tokens, which would prevent them from “being classified as securities, but would also allow the federal government to regulate initial coin offerings more
The post Congress’s Biggest Bitcoin Bull is Finalizing Bill to Exempt ICOs from Securities Laws appeared first on CCN
International cooperation is essential for eradicating ICO fraud, said Steven Peikin, co-director of the Securities and Exchange Commission’s enforcement division. Peikin made the remarks during a December 3 speech at Harvard Law School’s Program on International Financial Systems, where he discussed the astonishing growth of the ICO market. “The sponsors of ICOs are, in many instances, located
The post International Cooperation ‘Critical’ to Bringing Illegal ICOs to Justice: SEC appeared first on CCN
On November 26, the Financial Services Agency (FSA) of Japan held an internal meeting to discuss the possibility of allowing private crypto initial coin offering (ICO) projects. Nikkei exclusively reported that local financial authorities are actively exploring the legalization of ICOs for institutional investors and accredited investors, as long as they are lawfully conducted within
The post Could South Korea Follow Japan in Allowing Private Crypto ICOs? appeared first on CCN
The U.S. Securities and Exchange Commission (SEC) is actively cracking down on crypto initial coin offering (ICO) projects and a top official said earlier this year that dozens of cases are pending. The next wave of enforcement by the SEC, stimulated by its recent settlement with professional boxer Floyd Mayweather and music producer DJ Khaled, is
The post SEC’s Next Move: Social Media Influencers Who Promoted Crypto ICOs appeared first on CCN
Jay Clayton, the chairman of the U.S. Securities and Exchange Commission (SEC), recently discussed the current regulatory climate surrounding initial coin offerings (ICOs). Clayton emphasized that all ICOs must register with the SEC to ensure compliance with U.S. law.
Also Read: Estonia to Tighten Rules for Licensed Crypto Companies
The SEC chairman reiterated that the SEC does not see bitcoin as a security. However, it does view the tokens that are offered in many ICOs as securities. “If you’re going to offer and sell securities, you have to do that in compliance with our laws,” Clayton said.
The US Securities and Exchange Commission (SEC) has charged boxing legend Floyd Mayweather and recording artist DJ Khaled with illegally promoting initial coin offerings (ICOs). The two celebrities, as CCN reported, had been among the most prolific ICO promoters, pumping crypto tokens on social media while sometimes failing to disclose that the posts — which
The post Breaking: SEC Charges Floyd Mayweather, DJ Khaled with Illegally Promoting ICOs appeared first on CCN
For those who live in the northern hemisphere, winter is coming, while in the cryptosphere it’s already here. In Wednesday’s edition of The Daily, we look at the steps ICOs are taking to preserve their capital as they wait for the markets to warm up again, heralding that winter is over.
Also read: Bitstamp to Deploy New Market Surveillance Tool to Fight Price Manipulation
Arthur Hayes, the CEO of cryptocurrency trading platform, BitMEX, has published a new report detailing the current state of major token sales from 2017 and 2018. The newest Crypto Trader Digest is out. https://t.co/owEvwcu5hW — Arthur Hayes (@CryptoHayes) November 21, 2018 In the report, Hayes and his team of analysts have identified at least 12 blockchain […]
SludgeFeed
In recent regulatory news, the U.S. deputy attorney general has called for international cooperation on cryptocurrency regulation. Separately, the U.S. Federal Election Commission (FEC) has prepared a draft advisory that could allow political donations in the form of mining power, while the Alabama Securities Commission has estimated that the state has brought forward 20 percent of all active cease-and-desist orders against crypto companies in the U.S.
Also Read: Spain Monitors 15,000 Cryptocurrency Investors to Curb Tax Evasion
The Colorado State Department of Regulatory Agencies (DORA) has taken action against four more ICOs, ordering them to immediately cease and desist from carrying out all activities in violation of state finance laws. In a November 20 press release posted on the regulator’s website, it was revealed that with these four new additions, Colorado Securities Commissioner
The post Crackdown: Colorado Regulator Takes Down Four More ICOs appeared first on CCN
Over the past two years, initial coin offering (ICO) projects in the crypto market have raised more than $ 30 billion. Yet, most ICO projects have little to show, especially pertaining to user growth, blockchain adoption, and overall user activity on decentralized systems. It Will Only Get Worse A handful of tokens have demonstrated success in
The post Crisis: After $ 30 Billion Invested, Most Crypto ICOs Have Nothing to Show appeared first on CCN
The recent crackdown on two initial coin offerings (ICOs) Paragon and AirFox by the U.S. Securities and Exchange Commission (SEC) could lead to many blockchain and crypto projects declaring bankruptcy in the coming months. As CCN reported on November 16, Paragon and AirFox were ordered to pay a $ 350,000 fine to the U.S. SEC and
The post How SEC’s Paragon Ruling Could Send Many Crypto ICOs to Bankruptcy appeared first on CCN
This is the ICO regulators warned you about. Maksim Zaslavskiy, who is the mastermind behind two ICOs for tokenized real estate and diamonds, has pled guilty to fraud in a federal district court in Brooklyn, N.Y. As the first case of ICO fraud in the U.S., this one sets a precedent, with a judge in September
The post In Landmark U.S. Case, Mastermind Behind Two Fraudulent ICOs Pleads Guilty appeared first on CCN
Dutiful CCN readers may recall this journalist’s questioning of the Paragon ICO over a year ago. Paragon responded to that article with legal threats, as noted in the author’s subsequent analysis of the initial coin offering in question. Now that some time has gone by, and the whole market capitalization of Paragon is about a
The post SEC Takes Down Two Crypto Startups for Illegal ICOs appeared first on CCN
The post [Guest Post] Treating ICOs as hybrid type of securities appeared first on CoinReport.
According to cybersecurity firm Inksit Group, state-funded hackers in North Korea have been targeting crypto exchanges in South Korea to circumvent various sanctions imposed on the regime. The security firm alleged the government of North Korea of running illicit initial coin offering (ICO) projects and breaching into large crypto exchanges. “We discovered that North Korea’s
The post North Korea Hacked Crypto Exchanges and Ran ICOs to Fund Regime: Report appeared first on CCN
The Division of Securities of the U.S. state of Colorado has issued four new cease-and-desist orders to stop as many companies from promoting their tokens to residents of the state. So far, action has been taken against a total of 12 initial coin offerings by the state’s securities commissioner.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Colorado Securities Commissioner Gerald Rome on Thursday signed four orders “directing the cessation of unregistered securities in the state of Colorado,” the state’s Division of Securities announced. So far, the division has taken action against a total of 12 initial coin offerings (ICOs), the announcement details.
The state’s “ICO Task Force” has now issued 12 cease-and-desist orders since May of this year.
CoinDesk
With Ethereum’s launch in 2015 came a flurry of excitement over the future potential of smart contracts.
Utilizing a more flexible scripting language than Bitcoin, the platform’s decentralized applications (DApps) were touted by proponents as unlocking a plethora of formerly untapped use cases for the blockchain. From tokenized assets and blockchain-based legal contracts to healthcare records and supply chain tracking, DApps are going to remold traditional industries in their image, solve bottlenecks and revolutionize enterprise inefficiencies out of existence.
More than three years later, and we’re still waiting for the revolution.
