{"id":1217,"date":"2017-09-29T22:46:18","date_gmt":"2017-09-29T22:46:18","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=1217"},"modified":"2018-11-07T23:20:52","modified_gmt":"2018-11-07T23:20:52","slug":"news-icopocalypse-sec-switzerland-south-korea","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2017\/09\/29\/news-icopocalypse-sec-switzerland-south-korea\/","title":{"rendered":"News: ICOpocalypse! SEC, Switzerland, South Korea"},"content":{"rendered":"<ul>\n<li>The SEC finally prosecutes an ICO! The practice run is on REcoin, who sold an ICO on tokens backed by diamonds and real estate that didn&#8217;t exist; it was particularly egregious in that <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2017-185-0\">not even the tokens existed<\/a>. (The <a href=\"https:\/\/s3-us-west-2.amazonaws.com\/blockchainshow\/generalfiles\/123113543733.pdf\">complaint<\/a>.) Stephen Palley <a href=\"https:\/\/twitter.com\/palleylaw\/status\/913890417871134721\">notes<\/a> that he <a href=\"https:\/\/www.linkedin.com\/pulse\/ico-whitepaper-stephen-palley\/\">told you so<\/a>.<\/li>\n<\/ul>\n<ul>\n<li>Form your innovative entrepreneurial crypto corporation in sunny <a href=\"https:\/\/venturebeat.com\/2017\/09\/10\/what-switzerlands-crypto-valley-tells-us-about-the-state-of-blockchain\/\">Crypto Valley<\/a>, Zug, Switzerland! <em>(five minutes later)<\/em> We regret to inform you that <a href=\"https:\/\/www.finma.ch\/en\/news\/2017\/09\/20170929-mm-ico\/\">the Financial Market Supervisory Authority in Switzerland is investigating ICOs<\/a>.<\/li>\n<\/ul>\n<ul>\n<li>South Korea is <a href=\"https:\/\/www.ft.com\/content\/c245372a-a4e0-11e7-9e4f-7f5e6a7c98a2\">not so keen on ICOs<\/a> either: &#8220;all forms of initial coin offerings regardless of using a certain technology or a certain name.&#8221;<\/li>\n<\/ul>\n<ul>\n<li>A startling attack of good sense from no-longer-an-ICO Colony.io, who decided that selling unlicensed securities was <a href=\"https:\/\/blog.colony.io\/the-colony-token-sale-7ac14c845bc0\">probably a bad idea<\/a>, and they won&#8217;t be selling tokens until the system their token will be useful in actually, ah, exists.<\/li>\n<\/ul>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Some guy with a megaphone is standing across the st from the Bloomberg office in London going on about Bitcoin <a href=\"https:\/\/t.co\/To9eIT7D4X\">pic.twitter.com\/To9eIT7D4X<\/a><\/p>\n<p>&mdash; Lisa Fleisher (@lisafleisher) <a href=\"https:\/\/twitter.com\/lisafleisher\/status\/913399689525030913?ref_src=twsrc%5Etfw\">September 28, 2017<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<br><br><div align=\"center\"><p><a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\"><img src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2021\/10\/become_a_patron_button.svg\" alt=\"Become a Patron!\" title=\"Become a Patron!\" width=217 height=51><\/a><br><p style=\"align:center;\" class=\"patreon-badge\"><i>Your subscriptions keep this site going. <a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\">Sign up today!<\/a><\/i><\/p><\/div>","protected":false},"excerpt":{"rendered":"<p>And some bloke with a megaphone standing across the street from the Bloomberg office in London, ranting about Bitcoin.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[9,6,890,33,119,120,118],"class_list":["post-1217","post","type-post","status-publish","format-standard","hentry","category-uncategorised","tag-ico","tag-links","tag-recoin","tag-sec","tag-south-korea","tag-stephen-palley","tag-switzerland"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/1217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/comments?post=1217"}],"version-history":[{"count":8,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/1217\/revisions"}],"predecessor-version":[{"id":10732,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/1217\/revisions\/10732"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=1217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=1217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=1217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}