German Watchdog to Approve $280M Tokensale

Fundament Group is a Berlin-based DLT startup that is going to sale ERC-20 tokens which will allow its holders to invest in commercial real estate in Germany
24 July 2019   685

The Federal Financial Supervisory Authority of Germany (BaFin) has approved a tokensale from the Fundament Group Berlin-based blockchain startup in the total amount of 250 million euros. The campaign will be available to both accredited and retail investors without restrictions on the size of investments.

Note that we are talking about the ERC-20 standard token, which will allow its holders to invest in the construction of commercial real estate in Germany. The project includes three sites in Hamburg, one in Frankfurt and one on the campus of Jena.

The token is a right to annual dividends in the amount of 4-8%, as well as payments on the basis of construction. In this case, the Fundament Group will hold a tokensale without the participation of the investment bank as an intermediary in order to minimize costs, thereby taking on all obligations.

Investors will be able to purchase assets for Bitcoin, Ethereum, US dollars and euros. Those who pay by Fiat will receive tokens on the hardware wallet.

It is worth adding that the passage of KYC-procedure by investors is a prerequisite for participation in the campaign.

At the beginning of this month, the US Securities and Exchange Commission (SEC) approved a $ 28 million Blockstack tokensale for accredited and retail investors.

Immediately after that, the agency approved the distribution of 187 million Props tokens between content creators and YouNow streaming platform users for internal activity in order to influence their degree of involvement.

Sia Network Developers to Pay $225k Fine

Nebilous, startup from Boston, had to pay fine for the "unregistered securitities sale", which happened back in 2014
02 October 2019   173

Boston-based startup Nebulous, which developed the Sia Network cryptocurrency project, will pay a fine of $ 225,000 to the U.S. Securities and Exchange Commission (SEC) for selling unregistered securities.

Tokensale of Sia was held back in 2014. Total fees amounted to only $ 120 thousand.

Nebulous neither confirmed nor denied the allegations.