First Blockchain Startup Accelerator launched in Europe

Chain Accelerator has combined many industry veterans in order to cater its clients: a startup is aimed towards the nascent yet booming sector
18 June 2018   495

The startup is based in Paris and has joined 30 veterans from tech and financial spheres, that envolves names like Hyperloop Transportation Technologies’ chairman Bibop G.Gresta, SWIFT’s former CEO Leonard Schrank, Ledger’s president Pascal Gauthier, etc., in order to enforce the growth of the new blockchain companies.

At a time when the President and the Government want to make Paris, the capital of the ICOs, Chain Accelerator is positioning itself as a key player. By setting up a global and operational network in Paris, it brings together the best talent, extends the circle of contributors, and prepares for disruptions to help blockchain projects develop protocols in all sectors.
Nicolas Cantu
Co-Founder, Chain Accelerator

Applying its co-working with industry veterans, Chain Accelerator is to propose a wide range of services to its customers including technical prototyping, business development, recruitment, marketing and public relations, funding guidance, ICO support, and “token economy” consultatory.

This year ealier, French regulatory agency passed its intention to engage the blockchain companies in the country by creating a regulatory framework for ICOs. It was resulted by a large tax cut by the government for cryptocurrencies which diminished the taxes from 45 percent to 19 percent.

In France, as everywhere in the world, blockchain projects face many uncertainties and complexities, whether financial, legal, or technical. Yet, this technology will revolutionize our daily lives. As such, it is essential today to have both a legislative framework enabling its full development and structures enabling the emergence of such projects. Our country must become a leader in the blockchain. I am convinced that Chain Accelerator - the first blockchain incubator - will contribute greatly to this.
Pierre Person,
Member, National Assembly, Paris

Chain Accelerator has already begun to set an impact in the blockchain startup market, and during 6 months of its incubation period, it is already supporting 13 startups.

SEC to Slap ICO Founder With $30K Fine

Additionally, David Laurance, founder of Tomahawk Exploration LLC got 2 lifetime bans
15 August 2018   119

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.