SOMA to release MVP

Decentralized marketplace platform SOMA is going to roll out its MVP app on June 25 to enable mobile trading
13 June 2018   371

Since April 2018 SOMA has been performing extensive testing on the upcoming MVP. The release is scheduled for June 25. The product enables a mobile trading using SOMA Wallet and a native token SCT. The official Telegram channel has the most updated status on the development progress.

Latest builds include features like:

  • wallet creation, balance check, management;
  • payment methods selection;
  • payment handling ;
  • chat lists with new message types;

The app is going to use the project's own Heimdall protocol for digital representation of physical items and their provenance. SOMA is a decentralized social marketplace and a free-market ecosystem. At the moment of the publication, SOMA market parameters are as follows:

Average price 0.151505 USD
Market cap 817,920 USD
Volume (24H) 6,231 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.