Barclays to Create Seniors' Team to Study Crypto Trading

To study this issue, a high-level team was already assembled, chaired by the former head of energy trading Chris Tayrr
07 August 2018   155

British investment bank Barclays returned to the issue of crypto currency, after its CEO denied the information about the preparations for the launch of a specialized unit to trade them. This is reported Financial News.

In May 2018, Jesse Staley told the shareholders of the bank that he maintains a skeptical attitude towards crypto-currencies because of the problems of their regulation. According to a new publication Financial News, the bank can still launch its own "project in the field of digital assets."

To study this issue, a high-level team was already assembled, chaired by the former head of energy trading Chris Tayrr. It also includes Marvin Barth, in charge of the macro strategy in the emerging markets and foreign exchange markets, and an expert on the blockchain Lee Brain, who is one of the leaders of the technological division of the bank..

Last month, it became known that Barclays filed two patent applications for blockchain technology, designed to optimize the procedures for customer identification and bank transfers.

SEC to Slap ICO Founder With $30K Fine

Additionally, David Laurance, founder of Tomahawk Exploration LLC got 2 lifetime bans
15 August 2018   118

The US Securities and Exchange Commission (SEC) on Tuesday reported that it has issued two new bans directed against David Laurence, the founder of Tomahawk Exploration LLC. Tomahawk allegedly stands behind fraudulent ICO, writes CoinDesk.

Laurence, according to the SEC, raised funds through the sale of Tomahawkcoin tokens, in the process of using misleading advertising materials and fraudulent statements that it is a tenant of drilling sites.

Moreover, the sale of Tomahawkcoin tokens, according to the SEC, was accompanied by a false promise that "the holders of tokens will be able to exchange Tomahawkcoin for shares and receive a potential profit from oil production and secondary tokens trading."

According to the SEC, Lawrence neither acknowledged nor denied the charges, but he and his company agreed to these bans, as well as a fine of $ 30,000.

...Tomahawk issued tokens as part of the Bounty Program to generate interest in the ICO, which benefited Tomahawk. Distribution of tokens that are securities in exchange for promotional services to advance the issuer's economic objectives or create a public market for the securities constitute sales for purposes of Section 5 of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
 

SEC

The first prohibition of the SEC is a ban on the director's work in public companies, and the second does not allow Lawrence to own and trade in so-called "penny" shares. Both prohibitions, according to the announcement of the SEC, are lifelong.