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    United States

    SEC finally approves cryptocurrency offering, green-lighting Blockstack token offering

    The distributed web platform developer can sell up to $50 million worth of tokens to the public

    The U.S. Securities and Exchange Commission has finally given a blockchain company the O.K. to sell tokens directly to investors—sort of. The SEC on Wednesday approved blockchain startup Blockstack’s application to raise money  via a token offering, the first time it has allowed this type of fundraising in the cryptocurrency industry, according to the Wall Street Journal. The SEC has sued and fined several companies for initial coin offerings (ICO) that the agency said violated securities law. The action “is a massive step towards the much-needed clarity for the US crypto space,” according to social trading platform eToro’s senior market analyst, Mati Greenspan. “This could be considered the first regulated…

  • SEC
    United States

    SEC settles complaint against self-reporting ICO

    Ruling could be problematic for fraudsters of 2017 and 2018

    The Securities and Exchange Commission charged Gladius Network LLC with conducting an unregistered initial coin offering (ICO), even after the company self-reported themselves to the commission. Companies that fund through an ICO must register the coins as securities, the SEC clarified on Wednesday. Gladius will have to offer speculators a refund.

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