Financial regulatory authorities have officially placed cryptocurrencies – businessmen – on high alert this year, resulting in regular applications of fines and coercion.
For some, the rigid US Securities and Exchange Commission telegraphed for coded justice when the original cryptocurrency of Ethereum ether was not considered safe last year.
In addition, the Supreme Education Council indicated that tokens deployed on the network could be classified as such. In cinematography, they call it foreboding.
As it turned out, a large group of cryptocurrency startups did not get the memorandum – or curse if they did -. Below is a list of the hottest issue related to this year’s blockchain style. Sting regulator reel, if you will.
Company sits behind EOS with SEC to sell unregistered code
In September, Block.One – the company building the blockchain-backed cloud computing service – agreed to pay $ 24 million for violating US securities law through a $ 4.1 billion ICO.
Many in the region felt that the specific SEC measure came too late, particularly as those explicitly believed that selling 900 million codes without endorsing any product would eventually attract the attention of US regulators.
The SEC statement reflects this sentiment. It clearly highlighted a very extensive investigation by the independent blockchain company “The DAO”, which explicitly stated that token sales (such as by Block.on) were in the U.S. The securities were in line with the law.
Either Block.one has not read it, or (most likely) is not interested in it. Ultimately, Block.one did not agree or dispute the SEC’s claims, but paid $ 24 million in fines. Definitely not enough, in my opinion.
Nearly a year after the launch of EOS Mainnet (which once again cost $ 4.6 billion), EOS still suffers from not only significant and blockchain bottlenecks, but blockbuster producers have claimed that it is in fact a sock-owned Vali is managed by Fake Puppet – Cartel Purchase.
Ethereum ‘ICO Architect’ is reportedly built by startups
The case has come through the US Department of Justice (DoJ), which states that Stephen Nirav (the man responsible for the legal framework of Ethereum ICOs) – along with one of his peers – is an emerging crypto business worth millions of dollars in ether. Removed
In exchange for 22.5 percent of all funds raised, along with 22.5 percent of the code issued, Nerayoff was helping to launch an anonymous cryptocurrency for a successful ICO launch.
In the end, Nayyaroff had said an increase in his income from 13,000 ETH to 30,000 ETH (at that time valued at $ 8.75 million) demanded that the company be destroyed if he failed to do so . The company paid, but Nerayoff and his company provided no additional help to the startup.
Nairauf’s close aide Michael Hladi did the same. After claiming that he worked for the National Security Agency and the Central Intelligence Agency, he requested a $ 4.45 million loan, or “the company would destroy the community.”
Both Nairao and Haldi were arrested in September on extortion charges, and both face up to 20 years in prison if found guilty.
The founder of this token pumped it 315% himself
The Securities and Exchange Commission has accused Reginald Middleton of being a “financial guru”, who describes himself as “misleading investors” by fueling the huge and imaginary demand for his fake cryptocurrency ferry.
VERI was sold under the guise that one day it could be used as a token for Veritessam, a platform aimed at guaranteeing self-protection, offering products ranging from financial and data analysis and asset codes is.
It turns out (again), none of it was absurd. Middleton continues (claims) to evict investors through a fraudulent claim that obscures VERI that it has a keychain product ready to generate millions of dollars in revenue.
The Securities and Exchange Commission also said that in one day, Middleton artificially raised the price of VERI by 315 percent in an effort to attract a lot more buyers.
In total, Middleton and its associated companies raised $ 14.8 million, of which $ 8 million is held by Middleton. In August, Hard Fork reported that the US Securities and Exchange Commission withdrew an emergency lawsuit against Middleton to prevent him from accessing this money.
ICO to be audited by telegram for stranger in 2020
Yes, the Telegram messaging app, with more than 200 million users, is being sued for collecting $ 1.7 billion of cabbage by selling unregistered securities in the form of encrypted code.
A US federal judge ordered the dismissal of Telegram’s founder and CEO Pavel Durov in early January, and its vice president was urged to testify in London. Employees who appear in company letters to investors were also asked to do the same.
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