US SEC Releases No-Action Letter Confirming TurnKey Jet ICO Tokens Are Not Securities

In the letter, the regulator specifies that it considered that the platform will be fully developed and operational at the time the tokens are sold, and the funds won’t be used to develop the platform. It also mentions that the tokens will be immediately usable and have been marketed for their utility, not potential profits.Other reasons cited are that the price of the tokens during the sale will be fixed at one dollar, each token will be granting one dollar worth of service and that the company will only purchase them at a discount unless a court orders it to liquidate them. The SEC also notes that since TKJ transfers will be limited to TKJ wallets only and cut out from wallets external to the platform, it does not consider the tokens to be securities.At the beginning of the current month, news broke that the SEC is also looking to hire a crypto specialist attorney advisor for its Division of Trading and Markets who will reportedly be tasked with establishing a plan for dealing with crypto and digital asset securities.

New Regulatory Framework for Digital Asset Token Offering Introduced in Philippines

The new regulations released by the country’s Cagayan Economic Zone Authority (CEZA) are reportedly designed to regulate the cryptocurrency industry and protect investors, affecting such issues as the acquisition of crypto assets, including utility and security tokens. The CEZA thus becomes the main regulator, while the ABACA has been designated as a self-regulatory organization (SRO) to enforce the new framework.The rules are divided into tiers, wherein tier one involves investments and assets not exceeding $5 million made in digital tokens; tier two covers the $6–$10 million range, and tier three pertains to investments and assets exceeding $10 million.The PSEC initially issued a set of draft rules for regulating ICOs for public review in August, 2018. The agency then stipulated that any company registered in the Philippines looking to run an ICO, or any ICO selling tokens to Filipinos, must submit an “initial assessment request” to the Commission to determine whether or not their token is a security.However, in the beginning of 2019, the PSEC claimed it is not ready to issue final ICO regulation, attributing the delay of the release to a request by different stakeholders for further time to look at the draft ICO rules.

Ethereum (ETH) Investment Thesis is “Questionable”

Although the crypto market, in general, has undoubtedly had a bad year, some digital assets have had it worse off than others. Bitcoin’s (BTC) ~83% decline from its all-time high is mere peanuts, especially when compared to the 94% loss that Ethereum (ETH) has undergone. ETH has fallen so far from its high horse that the market capitalization of XRP.

While ICOs became an industry flavor of the month, so did decentralized applications (dApps), with Ethereum, again, Although many lambast Ethereum for its progress (or lack thereof), the long-standing network still has the potential to reverse its dreary fate in the future. As reported by NewsBTC previously, the network’s Serenity (Ethereum 2.0) upgrade sequence is right around the corner.



Critical for stopping illegal

Steven Peikin, codirector of the Securities and Exchange Commission’s enforcement division said, “International cooperation is essential for eradicating ICO fraud.” Peikin noted that in just a few short years, the ICO market has exploded from a mere concept to a phenomenon. The sponsors of ICOs are, in many instances, located outside the United States and international cooperation is critical to our ability to investigate and, where appropriate, recommend that the Commission bring enforcement action. The issuers may lack established track records. They may not have viable products, business models, or the capacity for safeguarding digital currencies from theft by hackers. And some of the offerings can be simply outright frauds.

Celebs and ICO is a breathtakingly dangerous combination

Like many different industries, Hollywood’s involvement with cryptocurrencies and Initial Coin Offerings (ICO) has become a reality and a number of celebrities have looked to capitalize on the surge in interest and potential money to be made. Two major names in the entertainment industry fell victim to the fallout associated with a fraudulent ICO of crypto financial services startup Centra Tech. In 2018, the three co-founders of the project were indicted and charged with securities and wire fraud by the United States Securities and Exchange Commission (SEC). Centra Tech had raised $32 million during its ICO. Centra Card was advertised as a debit card reportedly backed by Visa and Mastercard, which allowed users to convert crypto into fiat currencies. Investigations revealed no actual partnership existed.

NFL players turning towards crypto football league

Fan-Controlled Football League (FCFL) is a project that first shot to public attention around this time last year, when the FCFL launched a crowdfunding campaign to raise just over $5m to make the project happen. But that crowdfunding ICO campaign was cancelled over the summer, with question marks being posited by regulators. As such, the FCFL announced that it was holding off launching its full ICO until it’d satisfied regulatory bodies. Some added profile has been unlocked by the hiring of American football NFL stars Marshawn Lynch and Richard Sherman, who currently play for the Oakland Raiders and San Francisco 49ers respectively. The pair will be fan captains in the FCFL.

STOs for regulation?

The deputy secretary of the Thai Securities and Exchanges Commission (Thai SEC) has declared that Thai-related Security Token Offerings (STOs) launched in an international market break the law. Deputy secretary Tipsuda Thavaramara said, “the regulator will have to consider how to deal with STOs for issues such as share ownership, voting rights and dividend”. Thavaramara noted that a “STO affiliated with Thai investors launching in an international market at this point would be guilty of wrongdoing under the Digital Asset Act” as it would avoid “regulated fund-raising channels.” Thailand has revealed plans to legalize Initial Coin Offerings (ICO), authorize cryptocurrency exchanges, and regulate cryptocurrency in a way that legitimizes it.

Court dismisses SEC’s claims

U.S. court has dismissed claims from regulator Securities and Exchange Commission (SEC) against decentralized blockchain-based assets exchange Blockvest. Part of multiple investigations into unregistered token sales by the regulator, the SEC’ retaliation initially saw U.S. District Court for the Southern District of California issue a temporary asset freeze against Blockvest. In a fresh development this week, however, the court ruled that the SEC had “failed” to adequately demonstrate that the tokens in question were in fact securities. The SEC suspended Blockvest’s Initial Coin Offering (ICO) via an emergency court order in October. Judge Gonzalo P. Curiel denied the SEC’s request for an injunction against Blockvest, among several other claims.

Exosis progresses as expected

The Exosis coin is now listed in coingecko and will be listed on CoinMarketCap soon. The team has launched initially in two Exchanges- Bitker and Crex24.

The Team has set a noble cause by refunding the entire amount to the ICO Customers. Thereby, the users can buy the coins from the exchanges at current price. The customers won’t incur any losses and can be profitable at the same time. The team wants their customers to be fully rewarded in the downtrend market and hence has provided this wonderful opportunity. As  per the Roadmap, the team has their Masternode live and expected rewards from  5% to 20%.

Even though several ICO’s are launched, they are not successful and moreover aren’t launched in Exchanges. Exosis is successful with the launch, have listed their coin in Exchanges, Mining and Masternode activities are ongoing. The coin is set to list in CoinMarketCap soon, has great utility and Product.

Crypto regulation in malaysia.

Malaysia will enact regulations for cryptocurrency and Initial Coin Offerings (ICO) in Q1 2019. The finance minister Lim Guan Eng, who said Wednesday said the country’s regulator, the Securities Commission (SC), had updated him with a timeframe for the new rules. Malaysia has taken a piecemeal path to regulation of its domestic cryptocurrency industry, origibeginning the process in late 2017. meantime, Lim telling parliament thattities wishing to issue cryptocurrencies must consult the country’s central Bank Negara Malaysia. Lim telling parliament that entities wishing to issue cryptocurrencies must consult the country’s canara Bank Negara Malaysia. Malaysia has sought to foster its relationship with blockchain this year, November also seeing Education Ministry set up a university degree verification system using the technology