SEC Gives YouNow’s Ethereum Token ‘Props’ Reg A+ Approval

SEC Gives YouNow’s Ethereum Token ‘Props’ Reg A+ Approval

The U.S. Securities and Exchange Commission (SEC) has granted an ethereum-based token a Reg A+ qualification, the startup YouNow said Thursday. Props is an ethereum-based blockchain token that integrates with streaming platforms like YouNow and XSplit to reward users and creators with tokens. YouNow – which developed the Props blockchain – announced today that it will begin rewarding content creators with Props for in-app activities that “drive community engagement.
A Wannabe Netflix Raised $575 Million on Ethereum – Then Ditched Crypto

A Wannabe Netflix Raised $575 Million on Ethereum – Then Ditched Crypto

What started as a $575 million token sale is now a rewards program for watching videos. TaTaTu’s initial coin offering (ICO) was among the biggest of 2018, with film producer Andrea Iervolino raising money from royals like Lady Monika Bacardi, of the famous liquor family. Before this raise, Iervolino was best known for films such as “Bernie The Dolphin” and “Finding Steve McQueen.
Blockchain Video Startup YouNow Files With SEC to Give Away (Not Sell) Tokens

Blockchain Video Startup YouNow Files With SEC to Give Away (Not Sell) Tokens

YouNow, a video platform that aims to reward active users with its own cryptocurrency, is taking a belt-and-suspenders approach to compliance. The New York-based startup has filed a Reg-A+ offering circular for its Props token with the Securities and Exchange Commission (SEC) – even though it isn’t selling them to investors, accredited or otherwise.
A Protocol for Issuing Tokens Launches on Bitcoin’s Lightning Network

A Protocol for Issuing Tokens Launches on Bitcoin’s Lightning Network

Many bitcoiners thought it would be a cold day in hell when BHB Network co-founder Giacomo Zucco admitted that all tokens aren’t inherently scams. But, as it turns out, all he needed were the right partners. What started as a client’s request for a more secure alternative to ethereum’s ERC-20 tokens will soon emerge as the first unique protocol for issuing tokens via bitcoin’s lightning network. A better token-minting protocol, Zucco said, could be a game changer for entrepreneurs.
Bahamas Securities Regulator Proposes Rules for Token Sales

Bahamas Securities Regulator Proposes Rules for Token Sales

The Bahamas’ securities regulator is pushing for a new framework for token projects, aiming to turn the island nation into the jurisdiction of choice for blockchain startups. The Securities Commission of the Bahamas has filed a draft of the new bill regulating token offerings not deemed securities. The bill lays out a procedure for registering such offerings and informing authorities and investors on the details of a token sale. The draft was submitted for public consultations March 27 and comments will be gathered until May 28, Christina Rolle, executive director of the commission, told CoinDesk.
Nym Technologies Raises $2.5 Million to Anonymize Crypto Apps

Nym Technologies Raises $2.5 Million to Anonymize Crypto Apps

A privacy-centric startup has turned to a private token sale to raise $2.5 million. The seed round in Nym Technologies involved NEO Global Capital, Lemniscap, Edenblock and others. Binance Labs, where Nym completed a 10-week incubation program late last year, is also an investor.
Buffet Calls Bitcoin a ‘Gambling Device’

Buffet Calls Bitcoin a ‘Gambling Device’

Bitcoin got another bashing from the Sage of Omaha. Warren Buffet told reporters at Berkshire Hathaway’s annual meeting in Omaha, Nebraska that he still couldn’t support bitcoin. “It’s a gambling device… there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it.
Foam Turns to Token Grants to Build Out Decentralized Mapping Platform

Foam Turns to Token Grants to Build Out Decentralized Mapping Platform

Foam is accomplishing what few token issuers have: A consistently engaged community that actually uses its token beyond speculation. Following a $16.5 million token sale in 2018, the geolocation data startup has launched a token-curated registry (TCR) with about 140 monthly participants in April and a scavenger hunt that garnered 500 user contributions to its open source map.
SIX Stock Exchange May Issue Its Own Token, Says Exec

SIX Stock Exchange May Issue Its Own Token, Says Exec

Switzerland’s top stock exchange SIX could issue a token to meet its goal of digitizing traditional assets, according to its head of securities and exchanges. Thomas Zeeb told Finews in an interview published Monday that the SIX’s planned digital exchange will go live with a native token and an “initial digital offering” (IDO) service in 2020. That would follow a trial expected to be completed late this summer.
‘Not a White Paper’: Marketing Document Details $1 Billion Bitfinex Token Sale

‘Not a White Paper’: Marketing Document Details $1 Billion Bitfinex Token Sale

New details are emerging about a planned $1 billion token sale to be held by iFinex, the parent company of Bitfinex and Tether, two cryptocurrency companies currently being sued by the state of New York for allegedly covering up a $850 million loss in customer funds. Released today on Twitter by known company shareholder and over-the-counter trader Zhao Dong, a 3-page “marketing document” details the specifics of how the sale might ultimately take place, while noting throughout that it is not intended to be legally binding.
Binance, OKEx and KuCoin Are Using IEOs to Command the Spotlight

Binance, OKEx and KuCoin Are Using IEOs to Command the Spotlight

Token sales haven’t stopped since the 2017 boom. They’ve just changed names. Initial exchange offerings (IEOs) – where a cryptocurrency exchange offers a direct listing and launch campaign for a new startup token – are earning blockchain companies millions in 2019. Two sources, who both requested anonymity to avoid alienating exchange partners, told CoinDesk that some exchanges declined to list their tokens unless their startups paid hefty fees, in various formats depending on the exchange.
Startup Raises $3.9 Million in Tokenized Equity on London Stock Exchange Platform

Startup Raises $3.9 Million in Tokenized Equity on London Stock Exchange Platform

Blockchain startup 20|30 has raised £3 million ($3.93 million) in a sale of tokenized shares on a platform operated by the London Stock Exchange Group (LSEG). While a trial effort looking at using tokenized equity to modernize the financial markets, the share offering involved real cash and was issued on the LSEG’s Turquoise equity trading platform. 20|30 sets out to tokenize equity and other securities using distributed ledger technology. The firm was notably part of the fourth cohort of the UK Financial Conduct Authority’s (FCA) regulatory sandbox, announced last July.
SEC’s Crypto Token Framework Falls Short of Clear and Actionable Guidance

SEC’s Crypto Token Framework Falls Short of Clear and Actionable Guidance

The Takeaway: The SEC’s new guidance outlines how it will apply the decades-old Howey test to crypto assets. However, there remain a number of unanswered questions, including how the broad definition of “active participants” might impact projects; how startups based overseas are impacted and when and how a token might no longer be a security. While legal experts and industry participants see this as a positive first step, the consensus appears to be that there are still many issues still to be discussed.
A Small Bank in Germany Is Now Nearly 30% Owned by Crypto Companies

A Small Bank in Germany Is Now Nearly 30% Owned by Crypto Companies

Almost 30 percent of the equity in WEG Bank AG, a previously obscure German bank focused on the real estate industry, is now owned by companies in the cryptocurrency industry, CoinDesk has learned. By purchasing 9.9 percent of the bank, blockchain startup Nimiq now joins TokenPay and the Litecoin Foundation as part owners of the Munich-area financial institution.
The Seven Pillars of ICO Investing

The Seven Pillars of ICO Investing

Tim Enneking is managing director at Crypto Asset Management. Robert Brauer and Andrew Kang are members of the Crypto Asset Management ICO Analysis team.
As It Ramps Up Enforcement, the SEC Has Been Looking Abroad for Assistance

As It Ramps Up Enforcement, the SEC Has Been Looking Abroad for Assistance

2018 has been a hallmark year for the U.S. Securities and Exchange Commission (SEC)’s enforcement against cryptocurrency companies, and, according to one director, international collaboration with other regulatory agencies has played a supporting role in the SEC’s recent regulatory actions.
Snark.art Launches Blockchain Laboratory for Tokenizing Artworks

Snark.art Launches Blockchain Laboratory for Tokenizing Artworks

Brooklyn-based startup Snark.art has launched its blockchain laboratory to tokenize creative artworks of artists. The startup is kicking off with a partnership with acclaimed artist Eve Sussman whose project 89 seconds Atomized will be tokenized on the blockchain network and distributed to art lovers in pieces of digital blocks, which the company calls “atoms.
Op Ed: SEC’s Latest Declaration Creates Legal Minefield for Digital Assets

Op Ed: SEC’s Latest Declaration Creates Legal Minefield for Digital Assets

On November 16, 2018, the U.S. Securities and Exchange Commission (SEC) issued a public statement clarifying its intent to regulate activities involving the issuance and trading of digital assets. The SEC’s Statement on Digital Asset Securities Issuance and Trading pronounces that three categories of financial services that utilize blockchain or other distributed ledger technologies (DLTs) are within the purview of the SEC and require registration with the SEC unless exempt.

6 Noteworthy Airdrops to Partake in – 2018 Week 46 Edition

Cryptocurrency airdrops play an increasing role of importance in this nascent industry. A lot of projects still want to create their own infrastructure and associated tokens. This week, there are some very interesting airdrops to take note of, though all of them will require users to conduct some small tasks in the process. A lot of decent money can be made in exchange for minimal effort. Konkrete The Konkrete team is in the process of building the next generation of distributed share registries.
ICO Issuers Settle Registration Charges With SEC

ICO Issuers Settle Registration Charges With SEC

The U.S. Securities and Exchange Commission (SEC) has agreed to settle charges with two startups that sold tokens through Initial Coin Offerings (ICOs) in 2017. The companies were charged by the SEC for running their ICOs after the regulator clearly defined such offerings as unlicensed securities in its DAO Report of Investigation. The startups indicted by the SEC are Boston-based Airfox, which sold $15 million worth of tokens, and Paragon Coin, which raised $12 million selling tokens.
EtherDelta Founder Charged by SEC For Operating an Unregistered Exchange

EtherDelta Founder Charged by SEC For Operating an Unregistered Exchange

In an apparent first, the U.S. Securities and Exchange Commission (SEC) has charged the founder of EtherDelta, Zachary Coburn, with running an “unregistered national securities exchange,” according to a press release from the regulator. “EtherDelta provided a marketplace for bringing together buyers and sellers for digital asset securities through the combined use of an order book, a website that displayed orders, and a ‘smart contract’ run on the Ethereum blockchain,” the agency noted.
Bithumb and seriesOne Partner to Launch U.S. Securities Token Exchange

Bithumb and seriesOne Partner to Launch U.S. Securities Token Exchange

Aiming to create an SEC and FINRA-compliant U.S. exchange, blockchain-based crowdfunding firm seriesOne and crypto exchange Bithumb have formed a joint venture. According to an announcement made on November 1, 2018, officials behind the venture look to trade security tokens within a “compliant marketplace” and within the context of “other applicable regulatory approvals.” For South Korea-based Bithumb, the venture provides the exchange with new expertise around U.
Marco Santori on Airdrops and the “Complete Picture” of SAFT Regulation

Marco Santori on Airdrops and the “Complete Picture” of SAFT Regulation

Ever since the U.S. Securities and Exchange Commission (SEC) issued a stern warning about initial coin offerings (ICOs) in February 2018, cryptocurrency projects have had to consider different options for distributing their tokens — and funding their development. One alternative for dispersing a token is an airdrop, where tokens are given out (for free) to the holders of an existing cryptocurrency.

Regulation and the Future of Cryptocurrency at Token Summit II

On December 5th, 2017, the Mission Bay Conference Center in San Francisco hosted cryptocurrency enthusiasts in suits, hoodies and everything in between. Token Summit II, presented by William Mougayar, author of “The Business Blockchain,” and Nick Tomaino, founder of 1confirmation, was a hub for cohesion and problem-solving in the blockchain space.
Assets Will Be Tokens (And It Will Change Finance)

Assets Will Be Tokens (And It Will Change Finance)

Dr Pavel Kravchenko holds a PhD in technical sciences and is the founder of Distributed Lab. In this opinion piece, the first of a two-part series, Kravchenko argues that tokenization of assets using blockchains will have more profound effects on the world's markets than simply reducing back-office record-keeping costs.