CBOE President to Warn ICO Community

Chris Concannon believes that «the reckoning will come in two waves»
20 June 2018   984

According to the president of the CBOE Chris Concannon, soon the market of ICO will face new regulatory constraints. This is reported by Business Insider.

Concannon is convinced that at first the Securities and Exchange Commission (SEC) will put ICO tokens under attack. The coins issued during the ICO will be recognized by the SEC as unregistered securities. In turn, this will devalue a significant part of the assets of crypto-investors.

The next stage of the "payoff," the CBOE president is sure, will begin along with a wave of collective suits against ICO projects. Concannon also noted that because of regulatory uncertainty in the market, it is unlikely that ICO-investors in the near future will sleep peacefully.

The actual party that offered the unregistered coin, they could have been involved in issuing an unregistered security. Anyone who sold that off could be deemed an unregistered underwriter.
 

Chris Concannon

President, CBOE

For the first 6 months of the current year ICO-projects attracted more than $ 9 billion. This is more than twice the total amount collected by the ICOs for the whole last year.

California Court to Issue a Temporary Ban on Blockvest

SEC had found a lot of violations, including the "approval" of non-existed "Blockchain Exchange Commission"
15 February 2019   123

The Southern District of California Court, represented by Judge Gonzalo Kuriel, issued a preliminary ban against BlockOw ICO-startup Blockvest LLC and its founder Reginald Buddy Ringold (Rasul Abdul Rahim El), citing violations of securities laws in the past and possible violations in the future.

SEC Info
SEC Info

Court ruled that the BLV tokenail violated the norms of section 17 of the Securities Act of 1933, and recognized tokens as unregistered securities.

November last year, Judge Gonzalo Curiel refused to recognize the Blockvest project token as a security, because the SEC could not prove otherwise.