Louisiana residents are advised by Mayor to consider ICO

Joel Robideaux, Mayor-president of Louisiana city, has offered that the region government found its own cryptocurrency
16 April 2018   165

The Louisiana town of Lafayette is financially struggling and it was allowed in a presentation that property tax issues are scarce and that the money-tank towards operations is working for nothing. The general methods of getting municipal funds have been proposed, for example raising taxes, and seizing independent land. Joel Robideaux, the mayor-president of the town, is reasoning of going in a different way.

Robideaux is recommending local citizens to consider starting an initial coin offering (ICO) to increase the necessary funds under the suggestion that the earnings will go to “build a living lab of blockchain researchers and developers”.

According to reports by the Acadiana Advocate, the profits of the project is  ambiguous, and Robideaux did not afford a clear reason why exactly the district should consider this supply other than the prospective to “develop solutions targeting government inefficiencies, and, more importantly, alternatives for financing public infrastructure.”

In order to receive the believe for his idea, Robideaux claimed that it’s “not just a bunch of global libertarians that want unregulated, untraceable and secure digital currency transactions,” pointing out that despite cryptocurrency is “the recognition of global stakeholders that the world of banking, finance and payment systems is forever changed, that the world of healthcare, government and possibly every other industry is about to be disrupted.” Then Robideaux has underlined that he aims the proceeds of the fundraiser to “build a living lab of blockchain researchers and developers” but did not manage to put forward any specifications on this lab’s location, cost, or any particulars features about it.

Robideaux has mentioned Lafayette should look to its culture to widen its budget declaring that their “cultural economy is the low-hanging fruit. It already exists and it can only get bigger,” and that it “will become the stabilizing force in our budget.”

Tezos Co-Founder penaltied by Wall Street Regulator

Tezos co-founder Arthur Breitman is punished with a fine and a trading veto for two years by The Financial Industry Regulatory Authority (FINRA)
20 April 2018   117

The Wall Street regulatory institution has come to a adjudgement with Breitman after he was indicted of producing false statements about his side venture (Tezos) while he was actually employed at Morgan Stanley. All registered FINRA securities specialists are demanded to report any for-profit activity outside of their stated employment if there is “reasonable expectation of compensation.”

The regulatory activity started from a Reuters article published in October that discovered Breitman, who is filed with FINRA as a French citizen, never disclosed hise work for Tezos while still employed at Morgan Stanley within the years of 2014-2015.

Together with the other proofs published in Reuters` article is a business plan written in 2015 that lists Brietmen as chief executive and makes projections on the potential for the company to be worth as much as 20 billion dollars over 15 years.  They also cited two papers Breitman penned under the pseudonym L.M. Goodman about Tezos, showing that he purposely hid his connection with the firm.

FINRA enclosed that “Breitman did not notify Morgan Stanley at any time that he was engaging in these outside business activities.” The adjudgement conditions of April 18 are that Breitman shun any broker-deals for 2 years and pay a $20,000 fine. Breitman neither accept nor disclaim the indictments.

The settlement with FINRA is unrelated to and has no impact on the launch of the Tezos network. Arthur cooperated fully with FINRA at all times and Arthur is pleased to put this personal matter behind him.
Sarah Lightdale, lawyer of Arthur Breitman

Last July the Tezos foundation increased for $232 million from their initial coin offering to found the blockchain network for smart contracts but still haven’t delivered any of the cryptocurrency to supporters because of infighting and legal problems in and outside of the boardroom.