The Bank of Lithuania Probes 100 Million Euro ICO

Last week Lithuania's central bank informed that it is probing a domestic ICO after determining that the token offered counts as a security  
19 February 2018   1098

According to the statement, The Bank of Lithuania contacted with blockchain banking firm Bankera regarding its token sale. The sale was advertised on two websites and raised over 80 million euros. Currently, ICO's official website claims that it has raised more than 100 million euros.

The bank considers that the token sale constitutes an offering of securities under state law.

In addition, the ICO distributes its authorized cryptocurrency and has already attracted more than 80 million euros. Taking into account the features set out in the heading and based on the information provided by Bankera's business plan, it is concluded that this ICO falls within the scope of the Law on Securities, i.e. is considered a public offer, and therefore must be executed in accordance with the established requirements.

The Bank of Lithuania

According to the central bank, The Bank of Lithuania draws the attention of other media to the requirements of legal acts and recalls that the Law on Advertising prohibits the advertising of activities that violate the requirements of legal acts.

This action comes after Lithuania’s  released guidance for the blockchain. Last week, Switzerland's financial regulator, the Financial Market Supervisory Authority, released new guidelines last week, indicating it will also treat some ICO tokens as securities.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   120

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.