Massachusetts Watchdog Halts Five Firm’s ‘Unregistered’ ICO Sales
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Massachusetts Watchdog Halts Five Firm’s ‘Unregistered’ ICO Sales
Financial regulators in Massachusetts on Tuesday clamped down on initial coin offerings (ICOs) from five tech startups, saying the firms failed to register their digital coins as securities.
In a move that signals how the US watchdogs will aim to police a recent deluge of cryptocurrency-linked fundraising, the Massachusetts Securities Division stopped Mattervest Inc, Pink Ribbon ICO, Across Platforms Inc, Sparkco Inc, and 18 Moons from offering their own digital tokens. They were all either incorporated in Massachusetts or named the state as their principal place of business.
The order also forces the named ICO organizers to return cash to investors in ... (read more)
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