Security Tokens Daily Digest #4 (19-20 Nov, 2018)

SEC says tokens are securities

Crypto news got a little boost last week after a dark month of crashes, stablecoins and birthdays. The SEC ruled that two ICO issuers, CarrierEQ Inc. and Paragon Coin Inc., were in fact selling securities instead of so-called utility tokens.

“Both companies have agreed to return funds to harmed investors, register the tokens as securities, file periodic reports with the Commission, and pay penalties,” wrote Pamela Sawhney of the SEC. “These are the Commission’s first cases imposing civil penalties solely for ICO securities offering registration violations.”

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SPiCE VC’s Security Tokens Listed on OpenFinance Network

SPiCE VC, a security token-oriented venture capital firm, announced on Monday that its own security token, which was released in March of this year, would be listed on OpenFinance Network, Reuters reports. OpenFinance Network is the first security token trading platform fully regulated in the US. SPiCE VC said that non-US investors are able to buy its security tokens starting from Monday, November 19.

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Blocktrade.com partners with The Elephant and GoSecurity for token listings

Blocktrade.com, a trading facility for security tokens, crypto assets, and crypto traded indices has announced a partnership with The Elephant, a tokenized secondary market platform which offers accredited investors an opportunity to buy tokens backed by a block of shares of high tier privately held unicorns.

This partnership will enable The Elephant to list it’s asset-backed tokens on Blocktrade.com security token trading facilities as soon as the Blocktrade.com trading platform is live. In addition, Blocktrade.com will provide The Elephant with access to its partners and clients while The Elephant will help perform the tokenization of the assets and primary issuance of tokenized securities to Blocktrade.com clients and partners.

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Craig Wright Says XRP is a Security And WIll Be SEC’s Next Target

After supporting Bitcoin SV implementation during the recent forking of the Bitcoin Cash blockchain, Craig Wright is now focused on Ethereum and XRP. Craig is popular for labelling himself as Satoshi Nakamoto, the brain behind the formation of Bitcoin.

On his Twitter timeline, Wright recently posted that ETH is no longer useful for the real-world application. He backed his argument by alluding to the enactment of regulations against ICOs and virtual currencies by the SEC. The tweet also mentioned that XROP is likely to suffer the implications of the new rules because it is essentially an unregistered security token.

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