The US Securities and Exchange Commission (SEC) has issued a cease and desist order against Shipchain and ordered it to pay a penalty of $2.05 million. Additionally, the regulator has directed Shipchain, a shipping and logistics company, to transfer Ship tokens in the possession or control of the company’s directors to a “fund administrator.” Unregistered […]
The post The US SEC Fines Shipchain $2 Million for Conducting an Unregistered Token Offering: Company Agrees to Cease Operations appeared first on Bitcoin News.
Powered by WPeMatico
Initial coin offering projects are of great interest to regulators and other watchdogs these days. This is mainly because a fair few of these projects violated securities laws and expected to get away with it. In the case of ShipChain, the project was hit with a cease and desist letter this week for violating South Carolina’s securities laws. ShipChain ICO bites the Dust It has become apparent that a fair few initial coin offerings may have violated securities laws when issuing and distributing their tokens. Since most ICO tokens can be considered securities under the current regulatory guidelines, cease and desist letters are
No one has a crystal ball when it comes to crypto markets. In 2018, it seems as if cryptocurrencies face new challenges almost every day. With SEC regulators breathing down their necks, the future of tokens in the United States is anything but certain. There’s no best stock to put your money on, and the same holds true with cryptocurrency. But if you’re looking to take some altcoins for a test drive regardless, check out these expert picks. Ethereum (ETH) The second-most valuable digital currency isn’t without its issues, but Chris Kline is still a firm believer. The co-founder and
January 1 will be the start of the Public Sale for ShipChain, the project that will use blockchain to change the shipping & logistics market.