Initial Exchange Offerings: 3 Upcoming Projects to Watch Right Now

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Initial Exchange Offerings: 3 Upcoming Projects to Watch Right Now
As IEOs are becoming more and more prevalent holding the potential of replacing ICOs as the most popular fundraising model, you might ask “which are the ones worth watching?”. Here’re three IEO projects you should keep an eye on right now.
Initial Exchange Offerings: 3 Upcoming Projects to Watch Right Now

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Source: CoinSpeaker

Blockstack Set to Raise $50M Via World’s First SEC-Approved Crypto Token Sale

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Blockstack Set to Raise $50M Via World’s First SEC-Approved Crypto Token Sale
Blockstack is likely to set a new precedence in the ICO Industry to be the first company to conduct its token sale under the SEC Regulation A+ framework.
Blockstack Set to Raise $50M Via World’s First SEC-Approved Crypto Token Sale

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Source: CoinSpeaker

UAE is the Next Blockchain-Crypto Superpower

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UAE is the Next Blockchain-Crypto Superpower
According to Gregory S Mathew, blockchain expert and professional tech researcher, the United Arab Emirates are the next superpower not only in the global economy, but in blockchain and crypto spheres as well.
UAE is the Next Blockchain-Crypto Superpower

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Source: CoinSpeaker

South Korea To Revise Existing Crypto Policies – Is it Removing ICO Ban?

Reports revealed that South Korea’s govt officials are looking to review crypto regulations that are already set and finalized within the nation – one such stubborn regulation is ICO ban.
On stage at Deconomy conference, held in Seoul, Korea on April 04 and 05, 2019, government officials reportedly talked about revising the existing regulations around digital currencies, ICOs and crypto market.
Top officials involved in a discussion include;
• Min Byung-Doo, chairman of the National Assembly
• Jung Byung-Kuk, chairman of the 4th Industry Special Committee of the National Assembly
• Song Hee-Kyung, co-president of the 4th Industry Forum of the National Assembly
• Won Hee-ryong, the governor of Cheju Island
South Korea – Highlights of the Discussion on Crypto & Blockchain
Speaking about the growth and crypto regulations, Min Byung-Doo, Chairman of the National Assembly expressed his view and said that ‘policies on cryptocurrency must be re-evaluated to assure they shouldn’t hinder the growth of an industry.
Citing the regulatory sandbox, Song Hee-Kyung, co-president of the 4th Industry Forum of the National Assembly says that governmental bureaucracy hampers the industry’s aim of expansion and growth. She says;
“The government has misunderstood the virtual currency and tried to meet the real currency standards, so there are various problems. The industry does not stand still while waiting for the regulatory sandbox authorization, so it is just like keeping it in the box.”
Beside less-restrictive regulations, one official Jung Byung-Kuk, Democratic Party Member talks about policies that can also protect citizens. He says;
“Public officials and bureaucrats have a responsibility and an obligation, and they have to be conservative and require institutional devices”
Yet another official, Won Hee-Ryong, Free Republican Party Member, aims at forming regulatory sandbox at Korea’s sub-jurisdictions by quickly pointing at Jeju Island. He says;
“If we are concerned about regulation, we can operate a regulatory agency with the government in a limited area called Jeju Island,” said Won Hee-Ryong. “We will make a case study and try to create a foundation for the government to look at cryptocurrency.”
While crypto friendly countries such as Switzerland, Singapore, and Australia are racing to lead the blockchain industry with potential policies, South Korea is on its hard stance, calling ICO as almost ‘a gamble’.
Nevertheless, following the above conversation, it’s time for South Korea to simplify the government’s hard stance and promote crypto and blockchain innovation within the nation. In addition, officials have no clear view on how they revise existing regulation – as such, they didn’t reveal anything about removing ICO ban either.
What do you think about South Korea to review the regulation and find where the bottleneck is occurring? Let us know your thought.
The post South Korea To Revise Existing Crypto Policies – Is it Removing ICO Ban? appeared first on Coingape.
Source: CoinGape

South Korea Will Reportedly Re-evaluate Existing Regulatory Frameworks for Cryptos

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South Korea Will Reportedly Re-evaluate Existing Regulatory Frameworks for Cryptos
South Korean authorities will re-evaluate the existing crypto rules with a view to support the growth and development of the crypto industry.
South Korea Will Reportedly Re-evaluate Existing Regulatory Frameworks for Cryptos

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Source: CoinSpeaker

SEC Takes a Historic Step as it Clears its Stance on Token Offering

2018 was all buzz about US SEC and its considerations of blockchain and cryptocurrencies, but nothing actually materialized nor there was any clarity on what the regulator looking at. But finally, the air has been cleared as SEC has released a Statement on “Framework for ‘Investment Contract’ Analysis of Digital Assets”
SEC explains how Howey test should apply to digital assets
Finally, the US regulator for securities and exchanges, the SEC, has issued its first ever letter that provides an insight to companies that are considering token offering for raising capital or thinking of an ICO.
The first of its kind “No-Action Letter,” was received by the company called TurnKey Jets(TKJ), which is a startup that offers an all-inclusive private jet service including the plane crew, and pilot. Interestingly, the company’s website has no mention of a crypto-token, which appears to play a role in the actual reservation of the services. The no-action letter includes six key points as specifically relates to TurnKey Jets giving the world the points which is considered to reach this decision. To quote from the letter

TKJ will not use any funds from Token sales to develop the TKJ Platform, Network, or App, and each of these will be fully developed and operational at the time any Tokens are sold;
The Tokens will be immediately usable for their intended functionality (purchasing air charter services) at the time they are sold;
TKJ will restrict transfers of Tokens to TKJ Wallets only, and not to wallets external to the Platform;
TKJ will sell Tokens at a price of one USD per Token throughout the life of the Program, and each Token will represent a TKJ obligation to supply air charter services at a value of one USD per Token;
If TKJ offers to repurchase Tokens, it will only do so at a discount to the face value of the Tokens (one USD per Token) that the holder seeks to resell to TKJ unless a court within the United States orders TKJ to liquidate the Tokens; and
The Token is marketed in a manner that emphasizes the functionality of the Token, and not the potential for the increase in the market value of the Token.

Along with the no-action letter, SEC has also released a document called “Framework for “Investment Contract” Analysis of Digital Assets,” where it lays out a detailed explanation of how the existing Howey Test used to determine what is security is being applied to digital assets issued on a blockchain. The vast majority of the document details how the SEC views what is considered a reasonable expectation that profits will be derived from the efforts of others, a crucial factor of the test.
Also Read: Over 40 Central Banks Are Considering Blockchain Currencies: Davos Report
The most interesting section begins on page nine, with 12 characteristics that if present, mean the token offering is less likely to pass the Howey test. The first two are crucial.
“The distributed ledger network and digital asset are fully developed and operational,” and  “holders of the digital asset are immediately able to use it for its intended functionality on the network, particularly where there are built-in incentives to encourage such use.”
While there are still some gaps to be filled, the efforts of the SEC were well appreciated by the community. According to Jake Chervinsky, the lawyer who has been keeping an eye on legal and regulatory movement around cryptocurrencies tweeted saying
“The SEC published its DLT Framework today, giving us an in-depth look into how they think the Howey test should apply to digital assets. It isn’t perfect, but it is a *huge* upgrade from the DAO Report. I’ll throw some shade at the SEC later today, but for now, I give them 👍👍.”
The community has given its thumbs up to SEC which has finally broken its silence. There is a sense of optimism already that SEC may now move a bit quicker with decision-related to cryptocurrencies.
What is your view on SEC’s Framework for “Investment Contract” Analysis of Digital Assets? Do let us know your views on the same.
The post SEC Takes a Historic Step as it Clears its Stance on Token Offering appeared first on Coingape.
Source: CoinGape

Beware – Million Dollar ICO’s Founder and Assets Caught by Canadian Police

ICO sale was the hottest trend in the year 2017 – among all such ICOs, the parent of FUEL token had raised a total of $30 million CAD (Canadian dollar). Recently, Canadian police ran an investigation into FUEL token and its founders which runs a firm called, Vanbex.
Etherparty / FUEL Token Caught with Fraud Charges
Per the reports, the company is a brainchild of Kevin Hobbs and Lisa Cheng who raised $22 million worth of fiat and crypto assets via crowdfunding of FUEL token. Police investigation of these founders reveals that ‘they haven’t intended to build any usable products’ which however promised to make FUEL token worth in forthcoming smart contract system known as Etherparty. Moreover, sources also reported that the firm had also discussed how this new Etherparty would boost the value of FUEL token.
Concerning the similar regards, Canada’s Ministry of Attorney General anxiously states that;
“FUEL tokens became virtually worthless in dollar value while not being capable of use in the non-existent smart contracts system or for any product or service other than a cryptocurrency coin creating service called Rocket”.
Director further continued that;
Hobbs and Cheng “did not intend to develop the products they were marketing but rather [acted] with [the] intention misappropriate the corporately invested funds raised for their own personal benefit.”
To note, investigation on Vanbex isn’t new –the police had reportedly investigated the founders in May 2018 as well. Accordingly, the Canadian Revenue Agency also began the tax probe. However, the token is already listed on Coinmarketcap with name Etherparty, following the token tag FUEL. At the moment, its value is declined to $0.013442 after begging off 4.36 percent within a couple of hours.
Source: Coinmarketcap
Although police are still investigating founders there are no criminal charges that have filed against founders yet – however, reports noting that founders of Vanbex denied the fraud charges. Moreover, founders also say the fraud charges are false and a police investigation is due to ‘false claims by a former contractor’.
Nevertheless to note that the Lisa Cheng (one such founder) tweeted a Goodbye office post on March 29 without further clarification.

What do you think the intention behind the founder’s tweet? Where must she be going after Goodbye office post? Let us know 
The post Beware – Million Dollar ICO’s Founder and Assets Caught by Canadian Police appeared first on Coingape.
Source: CoinGape

Why IEO is the Most Efficient Method of Fundraising?

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Why IEO is the Most Efficient Method of Fundraising?
Anton Dzyatkovskiy, a Co-Founder of Platinum LLC, takes a look at the differences between ICO and IEO, reasoning why the latter is the most efficient method of fundraising.
Why IEO is the Most Efficient Method of Fundraising?

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Source: CoinSpeaker

Top Five Delusions About Security Tokens Clarified

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Top Five Delusions About Security Tokens Clarified
In this guest post, you’ll find clarification of some of the most widespread delusions about security tokens shedding light on some of its actual characteristics.
Top Five Delusions About Security Tokens Clarified

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Source: CoinSpeaker

Vitalik Buterin: If the Price is Zero, Then the Network Can’t Be Secure

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Vitalik Buterin: If the Price is Zero, Then the Network Can’t Be Secure
In his recent interview, Vitalik Buterin explained why Ethreum price is important for the crypto industry and answered to many other questions.
Vitalik Buterin: If the Price is Zero, Then the Network Can’t Be Secure

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Source: CoinSpeaker

With Evaluation of $19.5B, Lyft is Set to Beat Uber to Stock Market IPO

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With Evaluation of $19.5B, Lyft is Set to Beat Uber to Stock Market IPO
Ride-sharing startup Lyft, set their clock ticking for its IPO likely in the next two weeks. The stock will trade as “LYFT” on Nasdaq, and the IPO range is currently set for between $62 and $68 per share
With Evaluation of $19.5B, Lyft is Set to Beat Uber to Stock Market IPO

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Source: CoinSpeaker

PwC’s Strategy& Report: A Whooping $20B was Collected via Over 1132 ICOs and STOs in 2018

CoinSpeaker
PwC’s Strategy& Report: A Whooping $20B was Collected via Over 1132 ICOs and STOs in 2018
Experts of PwC’s Strategy& and Swiss-based CVA have explained why there is no fundamental difference between ICOs and STOs.
PwC’s Strategy& Report: A Whooping $20B was Collected via Over 1132 ICOs and STOs in 2018

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Source: CoinSpeaker

Growing Evidence for Institutional Interest in Crypto and Hope for Positive Change

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Growing Evidence for Institutional Interest in Crypto and Hope for Positive Change
Konstantin Rabin, fintech expert and crypto enthusiast, unveils what hides behind the trend of growing interest in crypto by private and public institutions, explaining what perspectives this could bring to the whole industry.
Growing Evidence for Institutional Interest in Crypto and Hope for Positive Change

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Source: CoinSpeaker

Thai SEC Approved First ICO Portal but Remains Unnamed

Thailand’s Securities and Exchange Commission (SEC) reportedly said yes to country’s first initial coin offering (ICO) portal. The portal would oversee the issuance blockchain based tokens.
SEC’s Approval for Unnamed ICO Portal
However, it is delayed but SEC Thailand has finally approved the dedicated ICO portal which was announced in late last year. It’s worth to note that this dedicated ICO portal is yet to be named.
The ICO portal with Thai SEC’s approval is on forwarding step – nevertheless, the approval from other central agencies such as Commerce Ministry is still pending. As for now, the status of ICO portal is almost ready but one step away – as the other agencies are yet to approve it. However, Archari Suppiroj, director of the fintech department at the SEC confirm that other bodies are also reviewing to offer green signal. Nevertheless, the time-frame of ICO project from this portal is not specifically determined, but the director hints as near future. Suppiroj Said;
“The first ICO deal will be available for [a] public offering in the near future under the digital asset royal decree…
Per the announcement, the portal will be held responsible to review ICOs, prove smart contract source codes, conduct due diligence, and also screen know-your-customer process (KYC). Concerning the trends of ICO and the concept it carries, she said;
ICO market has started to graduate from project-based and intangible ideas to ICOs backed by physical assets such as real estate.
Also Read: Thai SEC Revealed Eligible Cryptocurrencies for ICO Investment, Banned 3 Major Coins
Guidelines on STO is on Way
While Thailand SEC’s approval is only concerning the ICO, the concept of tokenization will not be served under this – since the law for securities is different. In particular, companies with STO will have to register under the Securities and Exchange Act in Thailand.
However, more likely, the regulators will soon issue separate guidelines for Securities token offering (STO) as well. As confirmed by Archari Suppiroj;
In the future, the SEC will issue a criterion that allows companies to apply tokenization to securities and other assets. This will help bridge the digital asset royal decree and securities law.”
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Source: CoinGape