The Colu DLT (a blockchain subsidiary of Colu Group) has made public that shutting down all its operations and is offering to repurchase and burn the accompanying CLN tokens sold to investors during its initial coin offering (ICO) and also ts tokens with Ether (ETH) over a 90-day period. It also affirmed the resale will use the ETH to CLN conversion price at the time of the ICO, which is apparently higher than the tokens’ current exchange rate.
CoinLaunch (an ICO consultant) now has to pay $50,000 to the Ontario Securities Commission (OSC) in its case related to two ICOs, BCZERO & ECOREAL which were found to be securities. A commercial litigator Evan Thomas commented, “Although regulators cracking down on ICOs have tended to focus on issuers, the big lesson here is that securities laws can apply to activities beyond issuing tokens, including activities that don’t involve buying or selling tokens.”
The crypto business in Australia has got a new updated regulatory guidance from the Australian Securities and Investments Commission (ASIC). John Price, ASIC commissioner explained, “Australian laws will also apply even if the ICO or crypto-asset is promoted or sold to Australians from offshore. Issuers of ICOs, crypto-assets and their advisers should not assume the use of these structures means that key consumer protections under Australian laws do not apply or can be ignored.”
Argyle Coin (headquartered in South Florida) which boasted itself as world’s first cryptocurrency with tokens pegged to diamonds, is ordered to halt its ICO (initial coin offering) by US Securities and Exchange Commission (SEC) and as emergency measure all of its assets frozen, because of charges against its principal Jose Angel Aman. SEC took hardline against the firm by calling the project as an outright securities fraud and a form of ponzi scheme.
DJ Khaled Music producer and former professional boxer Floyd Mayweather, both involved in promoting Centra Tech’s ICO have been facing lawsuit brought by investors in a fraudulent initial coin offering. But the latest court document have dismissed the case as the judge ruled the investors who brought the legal action failed to prove they bought tokens as a direct result of the pair’s actions.
A blockchain-powered mobile operator based in Prague, Miracle Tele has shared their plan to end its token sale on this coming May 15th. The company has decided to end the token sale after successfully raised $15.5 million with which the company is more than satisfied and sold more than 50,000k TELE tokens so far since eight months ago when the Initial Coin Offering (ICO) was launched for the first time.
The South Korean parliament will likely debate both bills in the coming weeks, although parties are unlikely to comment publicly on whether or not they will support either bill. Another glimmer of hope has appeared for South Korea’s crypto-community, with politicians set to debate a law that could open the door for conditional initial coin offerings (ICOs).
A new crypto treasury management Service has been launched by Panxora Group (a cryptocurrency consortium) this is to enable ICO traders to manage the raised funds more efficiently, use it to develop their business and also survive the cryptowinter. Gavin Smith, CEO commented, “Too many exciting projects have fallen by the wayside due to poor financial management. With the TMS, ICO founders no longer need to worry about being able to keep the lights on and can instead focus on their ideas.”
A new AIPBS has been released by PowerBrain.Shop® (an Artificial Intelligence firm) baed on Ethereum blockchain which can be traded in open market. Christian Kramer, co-founder, and CTO explained, “We’re building the next revolutionary milestone in mass market adoption of Artificial Intelligence. The company is now looking to attract investors and run its crowdfunding phase until the end of September 2019. By then we will hit the ground running.”
The initial coin offering (ICO) of Velocity Ledger Holdings Limited (VLHL) has recently received the approval from the Bermuda Ministry of Finance, if the Bermuda Monetary Authority (BMA) also gives green light the firm will start its digital asset exchange operations in Bermuda . The CEO of VLHL, Shawn Sloves have explained, “Bermuda has adopted pragmatic, non-restrictive frameworks for digital assets that provide regulatory certainty to market participants.”