Last week we reported that the US SEC stopped a fraudulent ICO that falsely claimed that it had SEC approval. Yesterday, the SEC suspended trading in the securities of a company amid questions surrounding its statements about partnering with a claimed SEC-qualified custodian for use with cryptocurrency transactions and a purportedly registered public offering of preferred stock. The SEC’s trading suspension order says that two August 2018 press releases issued by Nevada-based American Retail Group,…
This blog has previously discussed how different countries have taken varying positions with respect to their friendliness toward cryptocurrencies and ICOs. Baker McKenzie’s office in Thailand has prepared a guide that contains an overview of the regulatory landscape on digital assets in Thailand.
In March 2018 the European Commission issued a proposal for a regulation on crowdfunding service providers (“CSPs”) (the “Proposal”) as part of its broader FinTech action plan. CSPs operate online platforms which facilitate investments in innovative companies, start-ups and other unlisted firms companies by private investors. The Proposal plans to enable CSPs to offer their services across Europe more easily and also to improve access to CSP services across the EU. On 10th August 2018,…