PBoC Deputy Governor Warns Against STOs in China

Security token offerings (STO) – essentially initial coin offerings which are backed by tangibles such as a company’s revenues, profits or assets – are now officially banned in China. This emerged after the People’s Bank of China (PBoC) deputy governor, Pan Gongsheng, warned those issuing STOs that they were violating the law. “The STO business …

Congressman Finalizing Bill to Exempt ICOs from Securities Laws

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 …

Renowned Israeli Crypto Entrepreneur Moshe Hogeg Accused of Misusing ICO Funds

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. One of Israel’s leading entrepreneurs in the cryptocurrency field, Moshe Hogeg, is facing accusations of embezzling funds raised from two Initial Coin Offerings consequently rendering the company for which the funds …

SEC Crypto Crackdown Precedes 48% Drop in ICO Funding

Twitter Facebook LinkedIn The amount of money that initial coin offerings attracted in this year’s third quarter fell significantly compared to the second quarter. According to a report by crypto market analysis firm ICORating, the amount that was raised via ICOs from July to September reduced by 48 percent compared to what was raised from …

China’s Central Bank Slams Blockchain Investment ‘Bubble’

Twitter Facebook LinkedIn China’s central bank has called on the government to strengthen supervision into ‘speculative’ financing and investments in the blockchain sector. The Research Bureau of the People’s Bank of China, the country’s central bank, published a working paper titled ‘What can a blockchain do and cannot do?’ on Tuesday. An early analysis of …

Swiss Bank Helps Clients Participate in ICOs

Here’s something we don’t hear every day: a Swiss bank has opted to enable its clients to participate in initial coin offerings easily. The bank, Swissquote, has previously allowed customers to trade in cryptos. This is, to say the least, an unusual service for a fiat banking institution. Additionally, Swissquote offers traditional FOREX trading and …

What is a Security Token Offering (STO) and Why You Need Help

About the Author: Jaron Lukasiewicz is the CEO and founder of Influential Capital. Jaron has been an executive in the industry since 2012, previously serving as CEO of Coinsetter, one of the first bitcoin exchanges in the US, and Cavirtex, a leading exchange in Canada. Both companies were acquired by Kraken in 2016. He runs a YouTube channel …

John McAfee Told His Followers to ‘Flood’ the SEC’s Inbox. It Didn’t Go Well.

This is why we can’t have nice things. A few months ago, cybersecurity pioneer and noted provocateur John McAfee took to Twitter to implore his followers to “flood” Securities and Exchange Commission (SEC) Chairman Jay Clayton’s office with emails and calls. McAfee wanted them to demand that Clayton — to whom he affectionately referred as …

FINRA Throws Shade on the ‘SAFT’ ICO Framework

The Financial Industry Regulatory Authority (FINRA), a Washington-based self-regulatory body, has cautioned investors to beware of ICOs touting their adoption of the SAFT (Simple Agreements for Future Tokens) framework as evidence of investment security or regulatory compliance. SAFT Background The warning, which appears in its August 16, 2018 Investor’s Alert publication addressing potential ICO investors …

Metronome Blames Bear Market After Pedestrian ICO

Bad timing and a less than spectacular user experience — that’s what cryptocurrency startup Bloq says is to blame for the pedestrian $12 million raised through the metronome (MTN) initial supply auction (ISA), referred to by nearly everyone but the company as an initial coin offering (ICO). Bloq made this assessment in a lengthy post-mortem …