Donna Redel is the former Chairman of COMEX, a Board Member of New York Angels and an Adjunct Professor of Law at Fordham Law School. Olta Andoni is an Adjunct Professor at Chicago-Kent College of Law. Peirce’s CoinDesk op-ed is here . Further reactions were published here and here . In February, Commissioner Hester Peirce proposed a new safe harbor which, if passed into a formal rule, would radically change the legal terrain for […]
SEC Commissioner Hester Peirce has outlined details of a proposal that would provide crypto projects with a three-year safe harbor within which they could mature their token in order to successfully pass the SEC’s securities evaluation processes. https://t.co/FnquhaVp81
Ferrari F12tdf supercar image via Shutterstock Hankering for a Ferrari? Well, the only licensed stock exchange in Seychelles, an island nation in the Indian Ocean, is listing tokenized collectible cars worth over $200 million for retail and institutional investors. MERJ said Friday it is partnering with CurioInvest, a tokenization platform building on ethereum, to create tokens representing shares in “supercars” like the Ferrari. While the sale is open to institutional and retail investors, purchases […]
Fashion Blockchain – The issue with fashion is that some get it, and some don’t. But that’s just fine as fashion trends and styles are not for everybody. However, one thing is for sure. Fashionable or not, wearing clothes is required by law. Irrespective of gender, age, political views or religion, we all must wear clothes in public. While the requirement of wearing clothes in public might never change, as the fashion industry develops […]
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With a solid core development team and legacy role in the industry, Ethereum Classic continues to play an influential role in the cryptocurrency space — turning adversity into advantages. Ethereum Classic was created after the hacking of the Decentralized Autonomous Organization, a virtual venture capital fund. In the summer of 2016, an attacker stole $50 million in ETH — Ethereum’s native currency, Ether — from the DAO. That was about 5% of all Ether […]
According to the World Food Program (via KPMG ), 821 million people — nearly 1 in 9 on the planet — go to bed on an empty stomach. At the same time, the UN’s Food and Agriculture Organization reports that around 14% of the world’s food is lost before reaching the retail level — this can happen in on-farm activities, storage and transportation. So, on one hand we have nearly a billion people who […]
The Securities and Exchange Commission (SEC) has charged the founder of a software firm and the company with defrauding investors in an initial coin offering (ICO) that raised more than $42 million from hundreds of investors.
The SEC’s complaint said Eran Eyal, founder and CEO of UnitedData, Inc., which conducted business under the name Shopin, conducted a fraudulent unregistered security offering by selling Shopin Tokens in an ICO. The SEC also alleges that Eyal commingled funds from the offering with his own personal funds, and used offering proceeds to pay for personal expenses.
Shopin said it intended to use the funds from the sales of the Shopin Tokens to create universal shopper profiles that would track customer purchase history across online retailers. It would then recommend products based on the information.
“The SEC seeks to hold Eyal and Shopin responsible for scamming innocent investors with false claims about relationships and contracts they had secured,” said Marc Berger, director of the SEC’s New York regional office. “Retail investors considering an investment in a digital asset that meets the definition of a security must be afforded the same truthful disclosures as in any traditional securities offering.”
Paris – The Lenzing Group entered the age of digital traceability, showing its blockchain technology at the Première Vision show here. The leader in specialty fibers made from renewable material wood will use the technology to support its Tencel branded fiber business, ensuring transparency and traceability for brands and consumers of its fibers in finished products. Lenzing is partnering with Hong Kong-based TextileGenesis on the project. The supply chain transparency froms from wood to […]
Vatom Labs uses Blockchain-enabled SmartMedia Objects (SMOs) to award Miller Lite patrons in bars and restaurants Getty Images165167132 As blockchain technology becomes more widely adopted by marketers, its applications and limits come into focus. In terms of curbing ad fraud, blockchain can help support a transparent marketplace , but it isn’t speedy and efficient enough to verify legitimate trades as they happen . Ad exchanges aren’t nearly as much fun as other potential uses, […]
Leading cryptocurrency project Ethereum ( ETH – Get Report ) garners a lot of attention in the industry, but this is a particularly interesting time for the asset as its ratings have declined over the last two months. Price has also dropped significantly. As the prominent “smart contract platform” in the space, Ethereum boasts a market cap just over $20 billion at the time of this writing. Ether, ETH, is the native currency and […]
Security token trading platform tZERO has been awarded a patent for a way of recording trading data on public blockchains. The company, a subsidiary of retail giant Overstock, announced Tuesday that the patent for its new tech, dubbed “Time Ordered Merkle Epoch (TOME) methodology,” had been awarded by the U.S. Patent and Trademark Office. The firm explains: “TOME is a base-layer technology that uses digital signatures to record and verify time-series data such as […]