{"id":10138,"date":"2018-10-10T22:32:32","date_gmt":"2018-10-10T22:32:32","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=10138"},"modified":"2018-10-14T15:44:25","modified_gmt":"2018-10-14T15:44:25","slug":"news-sec-subpoena-storm-kodakcoin-quadrigacx-funds-frozen-exchange-shenanigans","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2018\/10\/10\/news-sec-subpoena-storm-kodakcoin-quadrigacx-funds-frozen-exchange-shenanigans\/","title":{"rendered":"News: SEC subpoena storm, KodakCoin, QuadrigaCX funds frozen, exchange shenanigans"},"content":{"rendered":"

The SEC is finally getting around<\/a> to calling up all those ICOs who sold billions of dollars’ worth of tokens \u2014 “focusing on those that failed to properly ensure they sold their token exclusively to accredited investors”\u00a0\u2014 pretty much exactly as crypto skeptics have been saying since The DAO<\/a> and before. It also turns out that calling your offering a SAFT isn’t magic. “The SEC has gotten dozens of ICOs to refund buyers and pay a fine, simply by reaching out and asking questions.” I’m just surprised it took them this long.<\/p>\n

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The undercover FBI agent who investigated 1broker bought his first unregistered security-based swap on March 30, 2016. The government didn't take action until two and a half years later.<\/p>\n

The majority of ICOs (unregistered securities?) were issued in 2H 2017.<\/p>\n

Buckle up, folks.<\/p>\n

— Jake Chervinsky (@jchervinsky) October 1, 2018<\/a><\/p><\/blockquote>\n