Posts in category

ICOs


Andrea Tinianow, Esq. is chief innovation officer at Global Kompass Strategies and was, until January, head of the Delaware Blockchain Initiative. David Adlerstein is a corporate attorney at Wachtell, Lipton, Rosen & Katz.   The views expressed in this article are solely those of the authors. Over many decades, the State of Delaware has established …

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Xunlei, the NYSE-listed cloud network provider, has launched its proprietary blockchain platform, despite ongoing class actions over an alleged initial coin offering (ICO). At a press event in Beijing on Friday, the company announced its open blockchain protocol dubbed ThunderChain, which is designed to enable developers to build decentralization applications. Based on the practical Byzantine …

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Energy giant BP would consider partnering with blockchain startups that are doing initial coin offerings, and it’s even tested tokens internally, an executive said Wednesday. Speaking at the Blockchain Expo in London, Julian Gray, the technology director for BP’s digital innovation organization, voiced a common theme: non-financial enterprises are perhaps more open to open-blockchain innovation that …

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Cambridge Analytica, the firm that faced much criticism over its misuse of Facebook user data, had reportedly planned to organize its own initial coin offering (ICO) before the news broke. According to a Reuters report citing anonymous sources on Thursday, Cambridge Analytica was originally expecting to raise around $30 million via the launch of its …

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Tim Enneking is managing director at Crypto Asset Management, which oversees Crypto Asset Fund, a regulated US cryptocurrency trading fund. The number of initial coin offerings (ICOs) is growing rapidly, having raised an astounding $5.6 billion in 2017 alone. More outrageous is that, by most estimates, over half of the ICOs launched in 2017 have already failed. …

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Lisa Zarlenga is Co-Chair of the Tax Group and John Cobb is an associate at the law firm of Steptoe & Johnson. The following article is an exclusive contribution to CoinDesk’s Crypto and Taxes 2018 series. In the last couple years, blockchain token issuances–sometimes referred to as initial coin offerings or ICOs–have skyrocketed, both in terms of number …

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The EU nation of Malta is moving closer to introducing a test that would clearly define when assets derived from initial coin offerings (ICOs) are securities. In a consultation paper published Friday, for which it is currently seeking public feedback, the Malta Financial Services Authority (FSA) set out a proposal for a so-called Financial Instrument Test, …

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Hong Kong’s securities regulator has taken a skeptical tone on investments related to initial coin offerings (ICOs). In a speech at an investment industry function on Friday, Julia Leung, deputy head of the Hong Kong Securities and Futures Commission (SFC) once more cautioned the public over fundraising activities associated with the technology. “While we acknowledge …

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A blockchain-themed conference in Shanghai was abruptly suspended by police on Thursday. The one-day event, dubbed the Global Fintech & Blockchain China Summit 2018 and organized by a business conference organizer called PTP International, was originally scheduled for April 12. Yet around midday (local time) on Thursday, the morning session was abruptly halted by police, and …

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Taobao, the internet shopping site under the e-commerce giant Alibaba, has updated its list of prohibited goods and services on the platform, which now includes those related to cryptocurrencies. In its latest update released on Tuesday, the site is now formally banning individual stores on its platform from providing services related to initial coin offerings …

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While enterprises have generally been more conservative when it comes to cryptocurrency, one of the market’s key players, the Hyperledger consortium, appears to be opening its code to edgier pursuits. Revealed exclusively to CoinDesk this week, the Sovrin Foundation, creator of the Hyperledger Indy codebase for digital identity management (and a Hyperledger group member since 2016), intends to become one of …

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“No one owns it, and no one uses it.” That’s how BlockTower Capital’s Ari Paul described bitcoin (and, really, cryptocurrency in general) multiple times during his keynote at PennBlockchain on Friday, the inaugural crypto conference by students at the University of Pennsylvania’s Wharton Business School. While it might not sound like it, Paul emphasized bitcoin’s …

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Tanzeel Akhtar is an independent British journalist whose work has been published in the Wall Street Journal, CNBC, FT Alphaville, Investing.com, Forbes, Euromoney and Citywire. “Pump and dump” schemes have been around since long before cryptocurrency was invented. What’s striking about the crypto markets is that this type of manipulation is done out in the …

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The U.K.’s financial watchdog has warned that companies offering services around cryptocurrency derivatives “likely” need to be authorized by the agency. In a statement posted to its website Friday, the Financial Conduct Authority (FCA), said that although it doesn’t consider cryptocurrencies to be currencies or commodities for regulatory purposes, cryptocurrency derivatives may be financial instruments under current directives. …

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Are all initial coin offerings (ICOs) bad? “Absolutely not,” according to SEC chairman Jay Clayton. Clayton’s remark came during a talk on “Cryptocurrency and Initial Coin Offerings” at Princeton University Thursday, with that specific comment referencing his agency’s enforcement actions against the founders of projects that have run afoul of the U.S. securities laws his agency …

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A research group in Japan has put forward a series of proposals related to initial coin offerings, including those focused on investor protection and money laundering prevention. Spearheaded by a Tama University professor and general advisor Takuya Hirai, a member of Japan’s House of Representatives, the ICO Business Research Group features advisors such as Yuzo …

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It turns out, you can launch crypto tokens on Ripple’s XRP Ledger, and a small group of coders are seeking to be among the first to do it. Stepping back, that might seem strange on multiple levels. For one, there’s XRP Ledger’s association with Ripple, the San Francisco startup that has largely tried to distance itself …

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A platform for token offerings first incubated at venture firm AngelList has completed its Series A. Launched last May, CoinList revealed Wednesday it has raised $9.2 million to build out a platform where accredited investors can invest in initial coin offerings (ICOs), or custom cryptocurrencies issued by startups and open-source projects. Investors in the round include Polychain …

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Ontario’s securities regulator will prioritize work on cryptocurrencies and initial coin offerings in the coming year. In a draft “Statement of Priorities” published on March 29, the Ontario Securities Commission (OSC) flagged token sales and cryptocurrency markets as two areas in which it would push to better understand – and regulate – during the next 12 …

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Senior figures in Iran’s government are reportedly debating a possible move to ban Telegram’s messaging app, in part over fears its new token could undermine the national currency. Telegram is widely used in Iran and is already frowned upon by some government members for its claimed role in the organization of protests in the country …

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