India’s Telecom Regulator to Curb Spam via Blockchain

The TRAI - Telecom Regulatory Authority of India, is interested in blockchain technology in order to curb telemarketing spam through phone calls and SMSs
30 May 2018   345

The first measure of such kind, watches the regulator draft guidelines on Tuesday in order to fight the prevalent issue of unsolicited calls and communication through a  mobile SMS, according to the report of Indian business daily Economic Times.  The regulator claims India’s telecom subscriber base achieved 1.19 billion users in December 2017.

TRAI is looking at blockchain technology as securing the contact information of hundreds of millions of users cryptographically to provide privacy. The information will only be acceptable to registered telemarketers under definite conditions.

TRAI chairman R.S. Sharma declared that the problem is widespread in the country, affirming that the officials had failed in their previous attempts to examine unsolicited telemarketing calls. The regulator is aimed to work with telecom operators and other stakeholders to solve the difficulties with a regulatory framework while involving the  blockchain technology.

Blockchain will ensure two things — non-repudiable[record keeping] and confidentiality. Only thoseauthorizedd to access details will be able to access subscriber details and only when they need to deliver service… TRAI will become the first organization to implement this kind of regulation. 
Ram Sewak Sharma
Chairman, TRAI

The blockchain ledger also will record all communication between subscribers and telecom firms to capture users’ consent for information. The ‘Telecom Commercial Customer Preference Regulation’ project will be available for comment till June 11.

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.