EU Countries to Sign Blockchain Development Declaration

The project participants intend to exchange experience and knowledge in the technical and regulatory sphere
11 April 2018   480

More than 20 EU countries signed a declaration on the European partnership in the field of blockchain technologies. This is reported by RIA News with reference to the press service of the European Commission.

The project participants intend to exchange experience and knowledge in the technical and regulatory sphere, to prepare the launch of unified applications for the EU using distributed ledger technology for the public and private sectors.

In order to take advantage of the opportunities of blockchain technologies and to avoid a fragmented approach, the participants of this declaration agree to cooperate in the creation of a European partnership for the development of the blockchain infrastructure that will help to improve trustworthy and user-oriented digital services within a single market.

EU Declaration

The agreement provides that the first cross-border actions should begin by the end of 2019.

Earlier it was reported that the European Commission intends to invest about 300 million euros in projects that support the use of blockchain technology.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   174

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.