ShipChain to be Hit by South Carolina Sanctions

Blockchain startup was ordered to immediately stop illegal activities from the Attorney General's Office of South Carolina
23 May 2018   708

This decision is caused by the alleged violation of the requirements of regulatory acts on securities operating in the state. This is reported by Coindesk.

The Securities Commissioner of South Carolina argues that the startup was engaged in the distribution of investment contracts under the guise of digital tokens, which are "the only medium of exchange on its platform."

At all times relevant to this Order, Respondent ShipChain continuously offered investment opportunities in the ShipChain platform and the corresponding tokens to South Carolina residents through its website and in-person events held in South Carolina. At no time relevant to the events stated herein was Respondent ShipChain registered with the Division as a broker-dealer, and no exemption from registration has been claimed by Respondent ShipChain.
 

Attorney General's Office of South Carolina Cease-and-Desist Order

ShipChain positions itself as a blockchain-based platform for delivery tracking. It is the member of the Blockchain in Transport Alliance along with such well-known companies as FedEx and JD.com.

Within 30 days, a start-up may request a hearing on the case, during which it must prove why the sale of its tokens is not the distribution of unregistered securities. Otherwise, ShipChain will be prohibited from "doing business" and "participating in any aspect of the securities industry in or out of South Carolina."

In their Twitter ShipChain reported that their lawyers intend to respond to the demand of the regulator as soon as possible.

Poloniex Wants to be Tron Super Representative

If the exchange will be elacted, it will be able to participate in the distribution of awards for one and a half million TRX daily
18 November 2019   34

The Poloniex cryptocurrency exchange this Monday announced the nomination of its candidacy for the role of validator in the blockchain project system TRON.

If successful, the exchange will be able to participate in the distribution of awards for one and a half million TRX daily. At the time of publication, she ranks 92nd in the general list of candidates with 32,626 votes, while the last super-representative in the 27th position has 262,320,639 of them.

Some time before, Poloniex opened several trading pairs for the TRX exchange and announced an official collaboration with Justin Sun's project.