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Court’s Reconsideration of Blockvest ICO Related Injunction Just Confirms What Securities Attorneys New All Along

There has been a good amount of discussion regarding the decision by Judge Gonzalo Curiel, of the US District Court for the Southern District of California, to grant the Securities and Exchange Commission’s (SEC) bid for a preliminary injunction against crypto company Blockvest LLC.

Initially, the Court issued an opinion denying the SEC’s request for a preliminary injunction. Some lauded this decision as a victory for initial coin offering (ICO) issuers. The Blockvest ICO had been promoted as both a Reg D and Reg A+ offering at different times, according to the SEC.

But in a memorandum in support for reconsideration of the order denying the injunction, the SEC argued its case to the Court regarding the alleged transgressions by Blockvest and its principles. The SEC argued effectively that the ICO was clearly a security and in breach of existing law and the risk of fraud remained:

“The Opinion [by the Court] appears to require proof of actual purchases and sales in order to show that the tokens at issue are securities. But it would subvert the purpose of the Securities Act if the SEC were required to show that specific investors relied on offering materials, to establish that an investment is a security. Such a requirement would effectively limit the SEC’s jurisdiction to claims only for illegal sales, not fraudulent offers.”

And;

“The fact that a defendant promises to cease its illegal conduct does not dispense with the need for an injunction. Particularly given Defendants’ past admitted falsehoods, an injunction is necessary here to protect future investors; to ensure that Defendants refrain from further fraud; and to ensure their compliance with the Securities Act should they persist in making similar offerings in the future.”

[The] Defendants’ unenforceable commitment to give the SEC thirty days’ notice of any planned offering impermissibly shifts Defendants’ burden to comply with the law to the SEC. This poses particular risk to investors in the digital asset space, where investor harm can occur with great alacrity and little transparency. It is uncontested that Defendants planned, until the Court issued its TRO, to offer their fraudulent ICO in December 2018. Their mere promise to halt the offering—for now—does not alter the fact that their anticipated ICO is for securities, nor that they have repeatedly lied about it being either “registered,” “exempt,” and/or “approved” under the federal securities laws.”

Avi Israeli, a Partner at New York-based litigation boutique Holwell Shuster & Goldberg, had this to say about the Court’s decision:

“The court’s reconsideration of its prior order and issuance of a preliminary injunction confirms what many ICO watching attorneys knew all along: The prior decision said nothing about whether, as a general matter, a token is a security or an ICO is a securities offering. Rather, the court’s prior order merely held that disputed issues of fact precluded the issuance of a preliminary injunction at that time.”

Israeli said the newly issued order focuses on an alternative theory advanced by the SEC, which was not directly addressed in the prior order, and new facts to support the preliminary injunction.

“Despite the different outcomes, neither decision changes the current landscape. Courts will continue to be guided by the expansive Howey test when determining whether an ICO is offering securities, and the SEC will likely continue to expand the scope of its ICO enforcement efforts.”

Anthony Zeoli, a Partner at the law firm of Freeborn and a Crowdfund Insider Contributor shared this comment – with a touch of irony:

“With the alleged facts, in this case, it’s hard to see how the court originally denied the injunction but it is good to see that the SEC is persistent in its efforts to stem fraudulent offerings in this industry. This should illustrate to those in the industry that the SEC is not, and will not, shy away from continuing to enforce securities laws as they pertain to the crypto space. Even where such actions might require multiple attempts; the famous words of Sam Weinberg (a Few Good Men) notwithstanding …”


From a Few Good Men (Lt. Sam Weinberg):

I strenuously object?” Is that how it works? Hmm? “Objection, your Honor.”

“Overruled” ..

“No, no. I STRENUOUSLY object.”

“Oh. You strenuously object. Then I’ll take some time and reconsider.”

Related: Previously Denied, Securities and Exchange Commission Granted Injunction Against Blockvest and Acts of Alleged ICO Fraud

Source: Ico Search Results
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TokenMarket Launches UK’s First Tokenised Equity Crowdfunding Campaign

TokenMarket Launches STO

Global investment platform leads the way for UK regulation with Europe’s largest tokenised equity crowdfunding campaign.

London, ENGLAND – February 15th, 2019 – Global investment platform, TokenMarket today announces plans to raise up to £10m via a Security Token Offering (STO). The offering, which is open to professional and self-certified investors, landmarks the first of its kind where the shares issued are represented as blockchain based digital tokens. The crowdfunding campaign is expected to take place within the Financial Conduct Authority’s (FCA) Regulatory Sandbox. 

Over the last two years, TokenMarket has established itself as an industry veteran having assisted some of the most innovative blockchain companies in raising more than £240 million.

“There is a huge unmet demand for growth finance, particularly amongst tech startups. Europe has markedly failed to match the prowess of the US in nurturing technology champions that drive innovation, economic growth and job creation.

“At the same time, everyday investors are often shut off from exciting investment opportunities. We firmly believe that STOs will help to solve this dilemma by democratising access to finance whilst providing the same investor protections as traditional securities.

“As a platform we work with many exciting businesses, and we are delighted to launch our own STO, demonstrating our commitment to this revolutionary financing model.” Ransu Salovaara, TokenMarket CEO and Co-Founder, commented.

With £9m in revenue in its last financial year, the company has been completely self-funded up until this point. TokenMarket plans to use the additional funding to fully capitalise on the expected £77 billion a year market of startup and growth company financing.

Mikko Ohtamaa, TokenMarket CTO and Co-Founder, added “Over the past 12 months, our team has been working on tokenised securities. We have designed and built an open-source platform that focuses on market transparency and security. We believe we have constructed a fully compliant yet non-custodial, blockchain-based platform that helps early-stage companies raise funding while potentially giving investors earlier liquidity.”

The TokenMarket platform, currently delivering fundraising and token issuance, is set to expand with the inclusion of its own security token exchanges in the EU and Dubai. This end-to-end approach aims to provide professional and self-certified investors with seamless access to primary and secondary markets.

The TokenMarket STO launches in two stages; a private placement for professional investors which is now open, and a tokenised equity crowdfunding campaign for self-certified investors which is expected to take place in March 2019.

For more information contact:

Lawrence Chiu, TokenMarket

lawrence@tokenmarket.net

James Isola, Maitland

jisola@maitland.co.uk

Tel: +44 (0)207 379 5151

Source: TokenMarket News
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How To Regulate ICO In Different Countries?

Since the inception of ICOs, the concept of investments and fundraising has experienced a dramatic revolution. Blockchain companies engage it for the purpose of raising capital to implement their products and projects. These companies have consequent to this recorded massive impacts and in 2017, it was able to pull in funds amounting to a whopping two billion dollars. It has since then thundered on and has experienced a steady incline. Going on, the reason behind such widespread popularity of Initial Coin Offerings is the fact that since its launch, there has been an absence of regulations. Several governments of different countries around the world ignored it in the early stages when it began to thrive. Due to such a carefree approach, ICOs began to swing in a negative direction. Several illegalities were recorded such as fraud, money laundering, terrorist funding, and Ponzi schemes. Due to these, investors got their fingers burnt and the development and investment ecosystem gradually began depreciating.

Presently, governments have begun taking necessary measures to keep things under check while giving ICOs the room to still accomplish the positive reason for which they were launched in the first instance. Such measures are taken, center largely on the creation of ICO regulations. This article brings to light such regulations and discusses the various ways of controlling ICOs in diverse countries around the globe.

1) European Union:

For countries under the European Union, the 13th of November 2017 marked an important date in their cryptocurrency market as the Securities Market Authority birthed more stringent regulations that radically changed the ways ICOs operated. It stated that ICOs should exhibit a reasonable risk to investors. It further stated that ICO firms must satisfy every statutory requirements and provision. This, therefore, led to the reduction of fraud in ICOs from 2018 till date.

2) United Kingdom:

The United Kingdom on its part has no strict regulations for ICOs. It has however set in place its Financial Conduct Authority to advise investors on the risk of ICOs. It has also stated that investors should regard ICOs as experimental and should hope for the best while expecting the worst. The country also permits ICO developers to assign a meaning to ICO laws and regulations as they wish and go on to apply these regulations to their projects. Additionally, the United Kingdom has a sandbox that is regulatory and is part of the regulation testing for Initial Coin Offerings.

3) United States:

For the United States, ICOs are to follow strict rules. For starters, they are to be registered with the Securities and Exchange Commission if the ICO is going to be engaged with trading tokens. What’s more, they are also to possess a license. Every ICO must also abide by the provisions of KYC or AML. If they fall short of this, legal action can be instituted against it and it can have its assets seized. The Securities and Exchange Commission has also expressed its stance on Altcoins being security which makes them under the power of a subsequent ruling. On the part of ICO tokens and Cryptocurrencies, the US is yet to officially make known its position on them being regarded as securities.

4) Canada:

The Securities administration of Canada has stated that ICOs and Altcoins are part of securities and should, therefore, be regulated by the countries ICO regulations through the method of a case by case approach. Canada has also set in place a sandbox for primary regulations. This sandbox establishes the rules for projects of the fin-tech industry which do not measure up to par with its previously set regulations. It also regulates the industry itself.

5) China:

China on their part had completely done away with ICOs. A ban was recently placed on the operations of ICO projects due to the fraudulent transactions that occurred while they were in operation. The country also states that exchanges of bitcoin should cease to exist and that any ICO that has completed its cycle of operation before the ban must return the Altcoins that was received during the exchange. Furthermore, any company or individual that flaunts these laws would be investigated and duly sanctioned or punished if found to be guilty.

6) India:

India has no record regulations against ICOs. However, on the 17th of February, the country’s RBI issued a statement on the dangers of cryptocurrency trading and also stated that no company has been expressly licensed by them to handle virtual currencies or bitcoin.

7) Japan:

There is no solid regulation in Japan yet. However, plans are being made to make KYC requirements stronger. Despite that, the Japanese are fearful that the country might dispense with Altcoins and ICOs in the nearest future especially since fraudulent ICOs have been on the increase and coin check was hacked recently. On the 27th of October 2017, the country made known that Initial Coin Offerings could crumble beneath the Payment Services Act.

8) Switzerland:

The government of Switzerland is very friendly towards Cryptocurrencies. Despite the fact that it has strict ICO regulations, it has also looked at the possibility of introducing new regulations that would benefit genuine ICOs and make the market-friendly. Be that as it may, according to the Financial Market Supervisory Authority, plans are being made to assess all Initial Coin Offerings within the country. This would enable the government to know which ICOs are fraudulent and go on to get rid of them while also safeguarding genuine ICOs.

On a final note, as the cryptocurrency market advances and ICOs continue to thrive, the need for more and more countries to create ICO regulations increases. However, there has to be a balance in such regulations. Genuine ICOs must be given the opportunity to achieve their goals while fraudulent ICOs would be weeded out. Having said that, cryptocurrency seems to be staying around for a very long time and ICOs would not be leaving soon. So, governments of diverse countries should explore the possibilities of welcoming them while also being firm against their excesses.

Source: Foundico.com: Blog
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Facebook political data probe: £2.5m. Powers for the ICO: Priceless

The millions spent on investigating the Facebook data harvesting scandal was worth it because it allowed the Information Commissioner’s Office to secure greater powers, Elizabeth Denham has said.

Denham, who has been information commissioner since 2016, said that without that case the ICO would not have been granted streamlined warrants or be able to conduct no-notice inspections on organisations.

Speaking at an Institute for Government event, Denham repeatedly sought to emphasise her organisation’s central role in internet regulation.

For instance, when asked about increasing interest in imposing wider regulations on tech giants, particularly about hate or harmful online content, Denham said: “You can’t take the ICO out of the online harms discussion.”

When asked if she saw the ICO as the main online platform regulator, she pointed out that her organisation is able to take action across borders.

“We do have the ability to reach across borders, which no other regulator in the UK has right now,” she said. “We have extra-territorial reach to investigate in Silicon Valley and we’ve had the experience of doing that in Facebook/Cambridge Analytica.”

Denham came under fire during that investigation last year, being described as publicity hungry as she made regular appearances on TV and radio, and opted for a series of high-profile international speaking events.

As reported by The Register, as of October 2018 that probe – which is ostensibly about the broader use of data in political campaigning but has the Cambridge Analytica scandal at its heart – had cost the ICO some £2.5m.

However, in response to a question from El Reg, Denham suggested the scale of the probe – which saw the ICO have to deal with 700TB of data – was the only way to secure the greater powers the regulator wanted.

“What we learned from that investigation was hugely valuable, because it was that case that allowed us to go to government and parliament and ask for new powers to be a fit for purpose digital regulator,” she said.

“So our ability to freeze data in the cloud, to conduct no-notice inspections, for us to get streamlined warrants – we would not have been given those extra powers except for that extraordinary case, which I think is not going to be that extraordinary in the future.”

Denham did say that she wasn’t happy with the “long tail of litigation” that would be left in the wake of the work, as Facebook is appealing the £500,000 fine the ICO handed down.

The commish also denied the resources dedicated to the project, both in terms of money and staff – from April 2018, 30 full-time and six part-time staff were involved – had detracted or distracted from its other work.

“To those who say that that case has distracted us from the day-to-day complaints that we get from citizens and consumers – it hasn’t,” she said.

“Because we actually are dealing with 100 per cent more complaints than we were two years ago. We’re crunching through those complaints. Every data protection authority across the EU is seeing a massive increase in digital complaints.”

Denham also hinted about upcoming enforcement actions, saying there were “three or four pretty big cases in the pipeline”. The French data protection authority already won headlines for the first multimillion GDPR penalty, a €50m fine for Google, but Denham has often said that handing out an order to stop data processing would have a greater impact on a firm than a cash payout.

But beyond this, Denham also made it clear she wants to change the ICO’s approach to enforcement with more large-scale, in-depth and proactive work.

“You will see the ICO take a different approach to its regulatory remit, because waiting for individual complaints to come in through the door is not going to allow us to get ahead of those very large, system-wide issues like ad tech,” she said.

In addition to ad tech, the ICO has also launched broader probes into facial recognition, the way the police deal with data collected from rape victims’ phones and is midway through work into the Metropolitan Police’s Gangs Matrix.

However, critics who think the regulator is trying to get its finger into too many pies are unlikely to welcome the move, especially those who think it has lost sight of the non-data protection strand of its work – enforcing Freedom of Information rules.

There has, though, been a recent flurry of activity from the ICO on information rights this year, as the ICO laid a report (PDF) before parliament that called for FoI rules to extend to public sector contractors.

At the event, Denham said that a third of public service data isn’t available because it is held by organisations that aren’t covered by the rules – meaning the law no longer achieves what it was designed to.

But the push to expand the remit of the law comes as government departments are increasingly likely to shirk their duties. According to IfG analyses, record numbers of FoI requests are being refused and many take their sweet time to reply.

In the first three months of 2018, 45 per cent were refused in full – this was also the 11th consecutive quarter where less than half were granted in full – while the Home Office has taken more than two years to deal with some requests.

Many would no doubt prefer the ICO holds the public bodies’ feet to the fire for such behaviour, using the powers it already has to enforce FoI – rather than seeking to extend the rules. ®

Source: Ico Search Results
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Singapore Hosts the Worldwide Crypto Forum – Blockchain Life 2019

On April 23-24 world blockchain and cryptocurrency industry meet at a 3d global forum – Blockchain Life 2019 in Singapore. More than 5000 participants from 70 countries are going to visit the biggest international industry event.

Find out more information and get Early Bird tickets:
http://blockchain-life.com/en/

Executives of leading blockchain companies, venture and crypto funds, traders, businessmen, private investors, promising startups, developers and miners – all gather in Singapore to discuss current trends and define industry’s development in the nearest future.

Forum’s prominent speakers will show all possible ways of earning money and creating projects in the crypto and blockchain industry. Among the speakers are: Sergei Khitrov (Founder of Listing.Help and Jets Capital), Xinxi Wang (director of Litecoin Foundation), Tim Draper (Top global venture capitalist), Vit Jedlička (president of Free Republic of Liberland), Nikolai Shkilev (Top ICO advisor), Anatolii Kaplan (founder of Forklog), Giacomo Arcaro (№1 European ICO growth hacker) and other renowned world experts.

Blockchain Life is held twice a year and brings international blockchain and crypto community together. The previous forum in Saint Petersburg (Russia) 2018 attracted more than 5000 attendees and became the largest European event in the industry.

The Asian edition of Blockchain Life is held in Singapore – a financial and technological hub of Asia and blockchain world’s capital. The famous hotel Marina Bay Sands located in Singapore’s heart welcomes 5000 participants from 70 countries around the globe.

Find out more and get your tickets right now:
http://blockchain-life.com/en/

Source: Foundico.com: Blog
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TokenMarket’s Upcoming Security Token Event Schedule

TokenMarket is back on the road. Come and connect with TokenMarket at these upcoming events to discuss all things security tokens, blockchain and crowdfunding.

Read more Security Token Event pieces here.


TokenMarket is excited to announce that it will be attending a number of events in the coming months, giving us a chance to meet some other like-minded professionals in the space. Members of our dedicated team will be speaking on panels, delivering keynotes and offering insight into the world of the blockchain, security tokens and the latest services that we can provide. 

After a successful 2018, speaking at conferences around the world and hosting our own, TokenMarket is excited to get back on the road and discuss all things security token and blockchain related. Below is a list of upcoming events that you can find our team at, as well as what to expect from the events themselves. 

London Blockchain Week

London’s fifth annual blockchain conference is taking place at the Grange Tower Bridge Hotel where it will have an entire floor reserved from February 8th-14th 2019. Around 3000 participants are expected to take part throughout the week, delivering a variety of keynotes, presentations and high-quality panels. As always there will also be evening receptions, workshops and the Blockchain Hackathon.

You will be able to see TokenMarket’s Managing Director, Ryan Hanley, in action on Monday February 11th. Ryan will be discussing security tokens with other esteemed guests. The panel will look at the basic idea behind security tokens as well as discussing the regulation, technology and success that STOs can have.

Tickets and more information can be found at https://www.blockchainweek.com/ 

Innovation in Technology: Breakfast Briefing

Join TokenMarket at this exciting first instalment of Breakfast Briefings, which will identify some of the most game-changing technologies and businesses in the industry. Co-hosted by Amdaris and Boatman Admin Services, this event will focus on emerging technologies and businesses in the blockchain.

The event will welcome talented speakers to a Breakfast Briefing, designed to curate interesting conversation in a relaxed environment. The meetup will look into the impact innovative technologies are having within the blockchain sphere as well as some light networking opportunities to meet like-minded professionals. Attendees are welcome to come and go as they please, and guests are welcome to use the office space following the event as a place to catch up on emails before heading off to their next stopping point for the day.

Ryan Hanley will be delivering a speech on Security token offerings (STOs) and the benefits of tokenising equity in your business.

For more information and tickets visit https://www.eventbrite.co.uk/e/innovation-in-technology-breakfast-briefing-tickets-53808536782?aff=ebdssbdestsearch 

Crypto Investor Forum

AltFi and Maitland/AMO are will be running a joint crypto investors forum at the Maitland/AMO offices in Kings Cross on Wednesday 27th February. The event is designed to decode the world of crypto for mainstream investors and explore how it will transform capital markets.

Market leading speakers will attempt to answer all the key questions most investors ask, ranging from how to access this nascent ‘asset class’, to exploring how tokenisation will transform capital markets, through to real-life applications of the blockchain. There will be an emphasis throughout the event focussed on the proper debate – underscoring both the risks and opportunities – and explaining how investors can access this confusing space through structures that are familiar and offer real protections.

You can meet several TokenMarket team members at this event, giving you a deeper insight into the world of the blockchain and crypto.

Tickets and more information can be found at https://www.eventbrite.co.uk/e/crypto-investor-forum-tickets-55271299946 

FinTech World Forum

The FinTech World Forum 2019 will take place in London at The Great Hall, Kensington Conference and Events Centre across two days from Tuesday, May 21st-22nd

The conference, which will see speakers from the worlds of banking, crypto, blockchain, technology and entrepreneurs come together to discuss a variety of topics. There is already 300 delegates signed up, with 25 speakers from large corporations such as HSBC, IBM, Oracle, Western Union, Nationwide and many more confirmed. 

Several TokenMarket team members will be there and Ryan Hanley will be on a panel discussing tokenisation as well security token offerings and blockchain technology. 

For more information please visit https://fintechconferences.com/ 

Source: TokenMarket News
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DOVU Announces Retail Security Token Offering for April 2019

DOVU announces STO for April 2019

Bristol, United Kingdom – February 7, 2019 – DOVU, a crypto-powered rewards platform for smart travel, has today revealed that it will be scheduling a Security Token Offering (STO) in partnership with TokenMarket expected to take place April 2019.  

After successfully raising £4.7 million in October of 2017 through a token sale, DOVU is now looking to raise £2 million in the form of a sale of tokenised equity. The use of funds will enable DOVU to further develop its platform, build user growth and facilitate creating a larger customer base. With recent news of a partnership deal with FTSE 250 company Go Ahead, and the recent launch of its consumer wallet, DOVU now seek to raise capital in order to expand its smart mobility platform for global adoption.

DOVU’s raise will see TokenMarket issue the business’ equity in a tokenised format via a crowdfund and private placement memorandum on the TokenMarket investment portal. Upon completion of the FCA Regulatory Sandbox test, DOVU will become the first regulated retail STO by TokenMarket, making it the second raise of its kind to be carried out in the UK as well as one of the first STOs in Europe. This means that DOVU’s platform users along with the wider public will have the chance to become investors in the business, a unique opportunity in this growing market space.

We’ve had great success launching our public wallet where users are earning DOV tokens, as well as signing a number of partner deals which will drive our platform forward. Given our strong position, we feel now is the right time to offer equity ownership to our growing community. TokenMarket was crucial in ensuring that our first raise in 2017 was a success and we are pleased to be working with Ransu and Mikko’s dedicated team once again to run our STO.” – Irfon Watkins, Founder and CEO, DOVU.

DOVU has previously received seed funding from Jaguar-Land Rover’s investment subsidiary, InMotion Ventures and has been supported by Creative England, a scheme backed by the UK Government’s ‘Public Growth Fund’. DOVU will look to further develop the high calibre of partnerships it forges throughout 2019.

STOs mark the new future of issuing equity in a business and we at TokenMarket are looking to set the standard. By using blockchain technology and bringing investment opportunities to the retail sector, we are confident that tokenised equity will become the norm. Having previously worked with Irfon and the DOVU team, we are thrilled to continue this great business relationship.” Ransu Salovaara, CEO and Co-Founder, TokenMarket.

To find out more information and keep up to date with the DOVU STO, visit http://dovu.io/sto

About DOVU

DOVU creates a new value exchange between people and global mobility providers. The DOVU platform allows users to earn DOV tokens for sharing and improving the way that they travel, allows mobility companies to get closer to their customers and ultimately helps cities get smarter.

Source: TokenMarket News
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Everything You Should Know About ICO Fund Distribution

Following the need of companies and businesses to raise capital for projects and the difficulty in obtaining such funds from banks and other financial institutions, many companies have turned to cryptocurrency and Initial Coin Offerings. Flowing from that, Initial Coin Offerings are a method of fundraising that swaps yet to be crypto coins for booming cryptocurrencies with an instant liquid value such as such as bitcoin, Monero and Ethereum.

Going on, the concept of ICO is a working relationship between investors and companies behind these ICOs in which big or small investors provide funds to sponsor the companies to project and in turn receives a return on investment (tokens) from the company. Since 2017 report has it that over twenty billion dollars ICO funds been pumped into ICOs by investors. Due to such huge numbers, Initial Coin Offerings are undoubtedly a goldmine. However, in order to keep ICO investors from going wrong, the concept of token distribution or ICO fund distribution has to be understood.  Understanding such fund distribution would serve as a guide to investors so they have an idea of how their monies are being spent. Having said that let’s explore what ICO fund distribution is, why investors should draw attention to this and how funds should be properly distributed.

What Really Is ICO Fund Distribution? 

Once the period for the sales of the token has come to an end or when a milestone has been achieved or a fixed interval by the ICO company has passed, the ICO company or project team goes on to distribute the funds through the use of the approximated costs for the diverse aspects of the project. Investors quite often are rewarded with tokens which end up being valued at millions of dollars. A portion goes into developing the blockchain project which is the reason behind the creation of the ICO and a portion may be used in taking care of legal or administrative concerns. Basically, the distribution of tokens or funds in ICO varies from project to project and is usually outlined in the ICOs white paper. This enables investors to have an understanding of where their cash is going into, what they stand to gain and how their money is being used. Having laid down the basics, let’s take a look at why investors should draw attention to ICO fund distribution.

Why Should Investors Draw Attention To ICO Fund Distribution? 

For starters, although cryptocurrency has been a well of wealth that raises billions of dollars for investors, there have been several sad tales as well. In 2017 alone an average of eighty percent of Initial Coin Offerings launched was failed or fraudulent. Furthermore, a good number of such Initial Coin Offerings were lacking in a well-detailed breakdown of their fund’s distribution in their white paper.  This points to the fact that if investors had taken the time out to understand each ICOs whitepaper, fewer fingers would have been burnt.

Secondly, apart from deliberately fraudulent ICOs, a lot of well-meaning Initial Coin Offerings were not able to fulfill their goals and strategy due to poor management of funds and a lack of a well-drawn plan towards the distribution of funds. This led to a loss of returns on investment and as a result, has left investors feeling cheated.

Due to the above two situations, it is only natural that potential investors exercise more caution in Initial Coin Offerings and pay close attention towards ICO fund distribution and token distributions. This would keep them from the unnecessary loss of funds. In line with the above, token analysts and stakeholders advise that investors should go above and beyond in evaluating the funding structure. They should dig up information on former investors and investments and ensure that the company is not entirely hanging the possibility of their development on the sales of tokens. Secondly, they should ensure that the majority of token distribution is used in the development of the project and not bounties or founders. That said, let’s understand how funds should be properly distributed.

Ways In Which ICO Funds Should Be Properly Distributed. 

As an investor, picking out the right ICO is not exactly an uphill task. If you know the ropes and what to look out for you’ll be just fine. One of the things to put an eye out for is properly distributed ICO fund. In line with that, an ICO fund can be said to be properly distributed when a significant share has been designated for handling development works and fewer of the shares assigned to founders and bounties. Basically, any ICO that distributes its funds to handling irrelevant things at the expense of the project should be avoided.

On a final note, ICO fund distribution is the heart and soul of ICO projects as investors are interested in rewards from their investments and companies are interested in getting funds from investors. This, therefore, means it has to be done well. The roadmap for the fund distribution in every Initial Coin Offerings has to be clearly stated and followed. As a prospective investor if you are not at peace with the plan for the ICO fund distribution you can withhold your cash or call the project team to order. With the right distribution of funds and highly valuable tokens, an investor in cryptocurrency is sure to have a great and financially beneficial experience.

Source: Foundico.com: Blog
Author:

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Traders Fair&Gala Night, Malaysia – 2019

April 27, 2019

https://malaysia.cryptoexpo.asia/

Traders Fair & Gala night, Malaysia is attracting the world of traders to one place during one day. The leaders of the industry are going to come together in one place and to have an exchange of knowledge and experience. And you may be a part of this fabulous event! Educational speeches from top speakers, entertainments, live shows, music and incredible prizes included in the agenda.

Traders Fair & Gala night – the financial event for traders and investors, which is going to take place in Kuala Lumpur on the 27th of April 2019 (InterContinental Kuala Lumpur, Malaysia). The best trading experts, companies, money brokers and banks from all over the world are going to share out their experience and to find out new up-to-date information about forex, stocks, futures and options markets. Also Traders Fair & Gala night is going to be full of educational programs and entertainment. To register online now for free, you should visit
https://malaysia.tradersfair.com/

Traders Fair & Gala night – Malaysia is happy to welcome experts which are going to provide our visitors with up-to-date and fresh news from the trading world: Khalid Hamid and his topic “The Best Way To Make Money In Forex Trading”, Mohammad Nazri is going to share out his experience with the topics “Mathematics in technical analysis” and “How leverage will impact money management”, Sam Goh with his “The Art and Science of Successful FX Trading”, Jim Chiew is going to have a seminar “Increase your Profits with Zero Time & Effort”, Gero Azrul is going to discuss “3 types of trading style – dynamic, proactive and systematic” , ”Elliott Wave Made Easy” by Ang Kar Yong and other up-to-date questions of financial world.

Traders Fair & Gala night – Malaysia is organized by FINEXPO, which is the largest company organizing financial and trading events, fairs, expos and shows worldwide since 2002. List of its projects seems quite long. Over 30000 traders, investors and financial advisors and more than 3 000 financial companies and brokers from Forex, stock, option, bond crypto money and forward markets from all around the world have been connected by FINEXPO. The positive feedback from participants is the best prove of effective and successful work done by FINEXPO.

To find out more information and to register online – please visit
https://malaysia.cryptoexpo.asia/

Facebook: 
https://www.facebook.com/TradersFair/

Source: Foundico.com: Blog
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ICO to probe Google over alleged GDPR violations

ICO to probe Google over alleged GDPR violations

Google faces a GDPR probe in Blighty

UK DATA WATCHDOG the Information Commissioner’s Office (ICO) has confirmed that plans to investigate whether Google violated GDPR rules.

 The ICO has received a number of complaints about Google and its heavy-handed data collection, The Telegraph reports. The report notes that while Google launched “transparency tools” in order to better comply with the EU privacy regulation, it still offers consumers no option to opt out of data collection, other than to close all their accounts and request their data is deleted.

The watchdog confirmed to the newspaper that it’s working with other regulators around Europe to consider its next possible steps after a number of complaints had been raised, due to consumers becoming more informed about their rights and being willing to exercise them.

If found to be in breach of GDPR, the ICO has the power to fine Google up to 4 per cent of its global turnover, – which by 2017’s figures could be as much as $4bn (£3.1bn).

The ICO’s planned probe comes just weeks after France slapped Google with a €50m fine for GDPR violations. The fine, which marks the largest GDPR penalty to be imposed so far, came courtesy of French data protection watchdog CNIL and followed complaints lodged by two advocacy groups last May.

The complaints alleged that Google failed to have “a valid legal basis to process the personal data of the users of its services, particularly for ads personalisation purposes” when setting up an account from an Android device.

Google was also accused of securing “forced consent” through the use of pop-up boxes on the web and its apps which imply that its services will not be available unless people accept its conditions of use.

“Following the notice of the French supervisory authority (CNIL) to fine Google, the ICO is currently reviewing the notice to consider its content and possible next steps,” an ICO spokesperson said.

“The ICO is also liaising with other data protection authorities across Europe on this topic.

“Google is an organisation that offers products and services to a large number of individuals both in the UK and worldwide. We have received complaints regarding Google which are being reviewed.” µ

Further reading

Source: Ico Search Results
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