Maecenas platform to hold a private Beta

Maecenas blockchain platform will hold world's first cryptocurrency art auction on June 20 as a private Beta session
10 June 2018   343

The platform is going to sell fractional ownership of Andy Warhol's 14 Small Electric Chairs at Dadiani Syndicate on June 20. Buyers will be able to purchase digital certificates of partial ownership on he Maecenas blockchain platform using ART, BTC and ETH tokens.

The reserve price is set at $4 mln and all buyers have to comply with KYC and AML. Maecenas creates special digital certificates linked to artworks on the blockchain that can be traded later on Maecenas exchange. Dadiani Syndicate functions as a luxury marketplace that accepts Bitcoin, Ethereum and Litecoin as payment options.

At the moment of publication, Maecenas market indicators are as follows:

Average price 0.777165 USD
Market cap 23,431,641 USD
Volume (24H) 25,018 USD

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.