Moshe Hogeg, founder of STX Technologies Limited (Stox), has been sued by a Chinese cryptocurrency investor for allegedly misusing funds raised in an initial coin offering (ICO) for a prediction market platform.
According to the lawsuit filed on January 24 in Tel Aviv District Court,
What is an ICO? It’s basically an IPO with cryptocurrencies. If you don’t know IPO as well, imagine a company selling its stock to the general public for the first time. During this time, most of the shares are sold at a lower price, so that people actually buy it,
Thailand’s Securities and Exchange Commission (SEC) is planning to conduct a public hearing to ease the country’s regulation for initial coin offerings (ICO).
In May of this year, the government of Thailand issued a royal decree to regulate the local cryptocurrency markets.
Blockchain journalism startup Civil will be launching another token sale after a failed initial coin offering (ICO) earlier this year.
Civil is a decentralized network of independent newsrooms, a community-run journalism project supported by the Civil Foundation and based on a token-curated registry model.
Did the US put forth groundbreaking new securities regulation in 2018? No, but the SEC provided a number of increasingly explicit reminders about the application of existing securities laws to cryptocurrency transactions—particularly ICOs.
The public enforcement actions during the past month against Airfox,
Jay Clayton, chairman of the US Securities and Exchange Commission (SEC), said that “initial coin offerings (ICO) can be effective ways for entrepreneurs and others to raise capital,” but “securities law must be followed.”
During a speech last week about the SEC’s rulemaking over the past year,
South Korean blockchain startup Presto has filed a case in a local court alleging that the government’s ban on initial coin offerings (ICO) is unconstitutional.
The South Korean government banned all forms of ICOs in September 2017, but has yet to introduce any law governing them.
The Securities Commission Malaysia (SC) and Bank Negara Malaysia (BNM), the country’s central bank, have issued a joint statement to provide clarity on the regulation of cryptocurrencies in the country.
The SC and the central bank said that regulations are currently being put in place to bring digital assets within the remit of securities laws to promote fair and orderly trading and ensure investor protection.
Hong Nam-ki, South Korea’s incoming finance minister, said that the government is planning to tax cryptocurrencies and initial coin offerings (ICO).
In a written statement submitted to the National Assembly for his confirmation hearing, Hong said that the taxation plan would be finalized in accordance with the creation and progress of the taxation infrastructure and the trend on international discussions.
Japan’s Financial Services Agency (FSA) is set to introduce regulations on initial coin offerings (ICO) to protect investors.
Citing informed sources, Japanese news outlet Jiji Press reported that the FSA will require business operators that issue their own cryptocurrencies to be registered with the agency.
