Hong Kong Securities Watchdog Halts ICO of Black Cell

[kreslik.news]

The Securities and Futures Commission (SFC),Hong Kong’s securities watchdog, has interfered with the initial coin offering (ICO) of a firm named Black Cell Technology, ordering the issuing firm to halt the sale of the digital currency to Hong Kong buyers.

The SFC accused Black Cell Technology of engagement “in potential unauthorized promotional activities and unlicensed regulated activities”.

Black Cell Technology in response halted its ICO to Hong Kong citizens and agreed to “unwind” ICO transactions for Hong Kong investors by returning the relevant tokens to them.

The SFC in its announcement wrote: “The SFC found that Black Cell had promoted ... (read more)