BLOCKCHAIN YOVO to be First Stellar-Based Mobile Network

Crypto mobile phone network is another premiere from the island of the blockchain:  London startup YOVO has chosen Malta as the area for its project development
09 June 2018   370

YOVO is a TLC network based on the Stellar blockchain technology, that makes possible to earn and spend cryptocurrencies on telephone services. YOVO aims to become the first mobile telecommunications network with its digital currency. The project is introduced by the team of 30 members and a starting investment of 20 million euros. It has planned a cooperation with partners in 130 countries, a number that, as claimed by the startup in a press release, is expected to rise above 200 in the next 12 months.

With its rules and crypto-friendly structures Malta, a member of the EU, has endorsed many projects connected with cryptocurrencies and the distributed and decentralized blockchain protocol. The officials of the island are preparing to accept 3 new laws in order to open the doors to digital coins. The Malta Digital Innovation Authority Bill, the Innovation Technology Arrangements Services Bill and the Virtual Financial Assets Bill have come to the second reading in Parliament.

The Secretary for Financial Services and the Digital Economy and Innovation of the Parliament Silvio Schembri displayed the great satisfaction with the arrival of YOVO, a group led and co-founded by Richard Skaife (CEO).  

From the island we will be able to serve millions of digital customers with mobile services, since our headquarters will play an active role in the growing community of the blockchain.
Richard Skaife
Founder, CEO, YOVO

The most innovative mobile phone network in the world is proud to be able to settle in Malta, world leader in the field of blockchain. 

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.