The commissioner issued to four ICO for allegedly offering unregistered securities. The Department of Regulatory Agencies has its own ‘’ICO Task Force’’ that conducted this operation. The operation was ongoing since May 2018 when the investigations showed of possibly unlawful activity that was mostly meant to crypto investors. For this reason, the Department issued 12 cease and desist orders against ICOs.
On November 8, the Commissioner signed four more orders to Bitcoin Investments, Ltd, PinkDate, Prisma and Clear Shop Vision Ltd.
The first company to get the notice claims to be a blockchain investment company that allegedly has more than $690 million assets in multiple funds. The company promised its customers more than one percent daily returns.
Their website shows that their team has members from the US Securities and Exchange Commission which makes it look great to potential investors but their DB Token ICO was actually not registered as a security.
PinkDate on the other hand anonymously operated around the world and they seek to raise more than $5 million via an ICO in tokens by guaranteeing a 50 percent of net profits through dividends in cryptocurrency. The PinkDate ICO has also not been registered.
As for the last two companies, one requires users to buy the native crypto Prismacoin and make a profit of up 30 percent and the other direct investors to send ETH to the company’s wallet and not through an exchange.
All of the companies are forbidden to continue working and could face charges for violation of the Colorado Securities Act.
Russia Is Not Planning To Buy $10 Billion In Bitcoin
“This statement has no common sense. The Russian Federation — like any other country in the world — is simply not ready to combine its traditional financial system with cryptocurrencies.”Sidorenko reacted to the fake news reports from Telegraph where it was noted that Russia wants to invest $10 billion in bitcoin in order to mitigate the economic impact that is brought up from the US sanctions. The rumors emerged on Twitter where a particular user wrote that Kremlin has no choice but to invest in bitcoin and that it is the only way to avoid the harsh sanctions by President Trump. Ginko posted on Twitter and his post went viral after Telegraph wrote a story about it and lots of other websites just added their own touch to it. Ginko is known to the public for making such shocking tweets and comments after once saying that sham investment adviser Bernie Madoff is the real Satoshi Nakamoto. However, Sidorenko said that Ginko’s comments are absurd:
“Even if Russia wants to place its cryptocurrency assets now, it simply cannot do this. We do not have any mechanisms that would allow us to introduce a system: where these assets would be stored, which authorities would be responsible for it, which would be responsible for abuses and stuff.”However, according to Tota Kaliaskarova, the director of macroeconomic policy with the Eurasian Economic Union says that crypto could have a huge impact on the Eurasian economy.
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- Russia Is Not Planning To Buy $10 Billion In Bitcoin
- Huobi Re-Launched As Fully Licensed Platform In Japan
- $1 Billion In Transactions Reported For 2018 By BitPay
- Third Audit Attestation Of USDC Stablecoin Reserves Released By Circle
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