Seagal agreed to pay $157,000 in disgorgement and a $157,000 penalty, without admitting or denying wrongdoing. However, the motion picture celebrity made one payment of $75,000 and never paid the rest, a letter from Maureen Peyton King, a lawyer for the SEC, states. According to the US regulator, Seagal has not responded to the SEC…
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According to SEC, many ICOs listed on Coinschedule.com appear in its DAO Report published in 2017, warning that: “coins sold in ICOs may be securities and that those who offer and sell securities in the U.S. must comply with federal securities laws.” SEC revealed that Blotics has agreed to cease and desist from future violations…
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Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit, stated: Loci and its CEO misled investors regarding critical aspects of Loci’s business. Investors in digital asset securities are entitled to truthful information and fulsome disclosures so they can make informed investment decisions. Although Wise and his company have neither admitted to nor denied the…
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T.I’s social media manager, William Sparks, Jr. allegedly offered and sold FLiK tokens on T.I.’s social media accounts and two other people based in Atlanta, Chance White and Owen Smith, promoted SPARK tokens without disclosing they were promised compensation in return. Carolyn M. Welshhans, Associate Director in the Division of Enforcement commented: The federal securities…
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The Securities and Exchange Commission (SEC) announced yesterday that it settled charges against actor Steven Seagal for not disclosing payments he received for promoting investments in an initial coin offering (ICO) by Bitcoiin2Gen (B2G). SEC found that the 69-year-old actor failed to disclose the amount $250,000 in cash and $750,000 worth of B2G tokens he…
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The Financial Markets Authority of France (AMF) just announced that it had approved its very first ICO in the country. The recipient who got the AMF "ICO visa" (a special crypto fundraising platform names French-ICO) was the one to meet the minimum guarantees that are demanded by local law. One of the "winning" elements were…
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The US Securities and Exchange Commission (SEC) is definitely not wasting its time when it comes to slashing ICO dreams. The financial regulatory body, after rejecting another Bitcoin ETF application, went on to file a legal complaint against the messaging app Telegram and its Telegram Open Network or TON. The reason? The unregistered ICO of…
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Some companies raise enormous amounts of money when it comes to issuing their own cryptocurrency. Telegram is definitely one of those companies. The firm is scheduled to release its Gram cryptocurrency by October 31st, 2019. If it fails to do so, Telegram automatically loses more than $1.6 billion. According to press, Telegram has set a…
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The following article is courtesy of Dr. Zvi Gabbay, Adv., former head of enforcement at the Israel Securities Authority. The piece is about Colu's Token Repurchase Plan. Colu DLT, the Gibraltar based subsidiary company of the Colu Group becomes one of the first companies to voluntarily offer to purchase the entirety of tokens sold during…
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ICO tokens – are they securities or are they something else that does not require strict compliance with SEC regulations, designed to protect investors and force full disclosure before any capital changes hands? In its last annual report, the SEC vowed to step up its activity in this arena, driving fear through the hearts and…
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