Swiss Watchdog Launches Proceedings Against $100 Million ICO

[kreslik.news]

The Financial Market Supervisory Authority of Switzerland is taking action against a company called Envion AG, according to an official press release.

After conducting an investigation, FINMA has concluded that the company has breached financial market law in relation to its ICO.

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World’s most profitable

According to its website, Envion is the “World’s Most Profitable Standard of Self-Expanding Crypto Infrastructure”. Its tokens represent shares of ‘mobile mining units’ which are located in shipping containers “ready for “plug-and-play” deployment at any energy source.” It aims to pay power plants to use their surplus energy to mine cryptocurrency, ... (read more)