TenX bank cards not to work outside EU

The TenX bank cards holders, who are not residents of the European Union, will not be able to use it anymore
19 September 2017   1614

The TenX bank cards holders, who are not residents of the European Union, will not be able to use it after October 16th.

TenX card  
TenX card

Thus, as reported by TenX team, the company does not have a banking license yet, while every active TenX card currently in circulation is issued by a card partner who is actually licensed to issue cards, namely, Wave Crest Holdings Limited. However, WaveCrest informed TenX that they would no longer issue and maintain Visa® Prepaid Cards to cardholders outside of the European territory.

The startup team clarifies that it is already negotiating with other card issuing companies that could provide services to non-EU residents.

It will take us some time to integrate our systems with theirs, and to print new cards issued by these alternative issuers. We’re currently targeting a November 2017 launch for these new cards, so look out for more information regarding this in the coming weeks.
 

TenX team

For TenX cardholders who are not EU citizens, the company offers to replace it without additional costs, or receive a monetary refund. To do this, you must contact the support via email.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   346

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.