ShipChain is ordered to cease in South Carolina

The securities department of the South Carolina’s Office of the Attorney General has directed blockchain startup ShipChain to pause working in the state
23 May 2018   952

A cease-and-desist order was sent to the company by the securities commissioner  for ostensibly violating securities laws. As claimed in the order, ShipChain, which is a freight logistics platform based on the Ethereum blockchain, has been “offering investment opportunities” and marketing its tokens to South Carolina citizens both online and at live events, yet has not admitted as a broker-dealer to process in the state. The ShipChain ecosystem is fueled by ShipCoin, a cryptocurrency that is the sole payment method on the firm’s platform.

According to the South Carolina securities law, “investment contracts constitute securities”, and it’s wrongful to sell securities that are not registered in the state. Finally, ShipChain, that is situated in Wilmington, Delaware, “transacted business … as an unregistered broker-dealer” and disrupted the law. The cease-and-desist paper was sent to ShipChain care of attorney, Julian Zegelman of Velton Zegelman in San Jose, Calif.

The study is going on and it’s a part of a broader sweep by the North American Securities Administrators Association announced in recent days dubbed “Operation Cryptosweep”. It is to “crack down on fraudulent Initial Coin Offerings (ICOs), cryptocurrency-related investment products, and those behind them” across the United States and Canada. A number of investigations are either pending or have been ended in the month of May alone, and ShipChain is called among them.

ShipChain isn’t being charged of promising any bloated returns or operating a scam. The aim of the order is to refine the fact that the firm is marketing and selling investment contracts directly to South Carolina residents without registering cryptocurrency as a security.

GRAM May be Traded at Liquid at Triple ICO Price

Bloomberg says that Telegram tokens, that may appear at Liquid will be sold by Gram Asia at $4 per token, but there's no official info from Telegram
04 July 2019   878

Even before the official public release of the cryptocurrency of the messenger, Telegram can increase in price by 200% relative to its value during the initial offer of coins. It is reported by Bloomberg.

As previously reported, Telegram tokens may appear on the Liquid Bitcoin Exchange already on July 10. The distributor is Gram Asia, which calls itself the largest holder of GRAM tokens in Asia. It intends to put up for sale rights to cryptocurrency at $ 4 per unit.

At the same time, one of the investors said to the publication that at the time of purchase the price of 1 Gram was $ 1.33.

It is worth noting, however, that after the announcement of the public sale of Telegram tokens to Liquid, the media reported that this intention had nothing to do with the official plans of Telegram.

Then one of Telegram's investors stated that no one has the right to sell tokens before their official launch in accordance with the signed agreement. Moreover, representatives of the popular messenger noted that they first heard about Gram Asia.

Later, CEO Liquid Mike Kayamora admitted that Telegram has no relation to the placement on Liquid: the deal was concluded exclusively between the exchange and Gram Asia, which allegedly is an incubator for the TON project.

The Block's leading analyst Larry Chermak on several tweets expressed skepticism about the announced Telegram tokenale based on the Liquid stock exchange, saying that he would “think twice before making a decision to invest.”