Initial Coin Offerings (ICOs) have raised $20 billion since the start of 2017, which is $18 billion more than the previous year, according to a recent study by financial research firm Autonomous Research. The study dubbed “Crypto Utopia” explores the cryptocurrency industry over the past year, focusing on ICOs and the regulation to which they are exposed. Per the study, $12 billion has been raised through ICOs in the course of 2018, while last year they raised $7 billion. The ICOs of blockchain protocol EOS and messaging app Telegram are responsible for almost half of all ICO funds in 2018 …

The U.S. securities agency has filed a subpoena enforcement action against the perpetrators of an alleged “pump-and-dump” scheme involving claims of a $100 million Initial Coin Offering (ICO), according to an Oct. 9 filing. The Securities and Exchange Commission (SEC) states it filed the subpoena application Oct. 5 at the U.S. District Court for the Central District of California against the “Saint James Holding and Investment Company Trust and its sole trustee, Jeffre Jame.” The filing came following the agency’s action to suspend trading in a penny-stock firm dubbed “Cherubim Interests, Inc.” this February. According to yesterday’s statement, the SEC …

The state authorities of Malta will assist the government of the Pacific island nation of Vanuatu in forming blockchain regulations, the Vanuatu Daily Post reported Monday, Oct. 8. Minister of Foreign Affairs of Vanuatu Ralph Regenvanu has reportedly requested assistance from the Maltese government in forming blockchain legislation upon instructions from the Council of Ministers. Speaking at a meeting with Maltese Prime Minister Dr. Joseph Muscat, and Parliamentary Secretary Silvio Schembri, Regenvanu noted the crucial role of adopting appropriate regulatory frameworks for the blockchain industry and Initial Coin Offerings (ICOs). In mid-September, the Reserve Bank of Vanuatu (RBV) issued a …

The United Arab Emirates (UAE)’s national securities regulator plans to introduce Initial Coin Offerings (ICO) for capital markets in 2019, Reuters reported Oct. 8. Reuters notes that the regulator has embraced the innovative fundraising model to diversify the means through which companies can raise capital, noting that in recent years, “weak” equity markets, coupled with low oil prices, have been adversely impacting Initial Public Offerings (IPOs) in the country and wider region. Reuters quotes the CEO of the country’s national securities watchdog, Obaid Saif al-Zaabi, as saying that: “The board of the Emirates Securities & Commodities Authority [ESCA] has approved …

The European Securities and Markets Authority (ESMA) has announced it is examining Initial Coin Offerings (ICOs) to determine how they should be regulated, Reuters reported Oct. 8. The ESMA was established in 2011 in Paris, France, with an objective to develop a common rulebook for European Union (E.U.) financial markets and supervise them. The ESMA also works closely with the other European Supervisory Authorities competent in the field of banking (EBA), and insurance and occupational pensions (EIOPA). According to Reuters, the ESMA is assessing ICOs to see how they comply with the existing securities regulations on a “case-by-case” basis, as …

Lithuanian authorities held a seminar examining the “threats and potential benefits” of Initial Coin Offerings (ICO) to the country’s economy, a press release reported Wednesday, October 3, amid an ongoing investigation into cryptocurrency trading habits. The Financial Crime Investigation Service (FCIS) organized the meeting, which included representatives from government ministries, the central bank, and the General Prosecutor. According to the press release, the gathering revealed that Lithuanian processes “huge” turnover from crypto to fiat. Antonio Mikulsk, head of the FCIS, said: “Virtual currency has huge cash flows, but (there are) worries about converting them into dollars and euros as quickly …

Chinese energy company Risen Energy has partnered with a Spanish cryptocurrency mining farm will to develop capacity of up to 300 megawatts (MW) of photovoltaic power. The news was reported by a Chinese media outlet PV Tech Thursday, October 4. Several months after CryptoSolarTech confirmed it was building two farms near the city of Malaga using energy-efficient technology, Risen “will develop and take on engineering, procurement and construction (EPC) responsibilities for the projects,” according to the new report. For comparison, Bitcoin network consumes an average of about 200 MW of energy for mining every day, according to the Bitcoin Energy …

Comedians from the United States are quite used to making fun of Canada, depicting their neighbors as some sort of peaceful simpletons, with the series South Park as probably the prime example. However, even if you ignore that Wolverine — the toughest of all the X-Men — is Canadian, you should revise this worn-out cliché, considering how this realm of the Commonwealth seems to march to a faster pace than the United States in the race for cryptocurrency adoption. New vehicles to achieve a faster adoption While the U.S. Securities and Exchange Commission’s (SEC) recent requests seem to delay the …

A member of South Korea’s National Assembly has called on the state to “open up the road” to Initial Coin Offerings (ICO) by easing regulations, South Korean financial outlet Economy reports October 2. According to the article, Min Byung-doo, a Democratic Party lawmaker, will introduce a project of for ICO legislation at the next round of the National Assembly. He claimed that the purpose of the new legislation is to allow ICOs while enforcing strict regulation for the negative parts of the industry, noting: "We are looking at ways to open up the road to ICO[s] while strictly prohibiting negative …

A digital advertising startup with the goal of “building a better internet” for web users, publishers and advertisers is embarking on the second round of its token offering – but with a twist. Varanida says its blockchain has been built for three reasons: improving transparency for brands, increasing revenue for publishers, and giving the public a better experience when they are browsing the internet. The company plans to achieve these goals by “improving online digital content and creating incentives for less intrusive ads that people actually want to see.” Founded in Lyon, France four years ago, Varanida says it has …

South Korea’s largest venture capital (VC) firm, Korea Investment Partners (KIP), is investing in its first blockchain startup, TEMCO, according to an October 1 press release. KIP is known for its investments in high-ranking firms that include Naver — Korea’s largest search engine, as well as owner of the popular Japanese messaging app LINE — and Korean messaging giant Kakao, among others. Both LINE and Kakao have made multiple inroads into the crypto space, with the former launching its own crypto token and exchange, and the latter establishing its own blockchain subsidiary. According to its official website, TEMCO specializes in …

Investors in German ICOs have lost up to 90 percent of their capital, Cointelegraph auf Deutsch reports Monday, October 1. German business magazine WirtschaftsWoche compared the token issue prices of Initial Coin Offerings (ICO) carried out by German startups with the prices of early September 2018. The report found that, with up to 90 percent loss in value, the German startup coins lost even more value than lead coins like Bitcoin (BTC) and Ethereum (ETH), which have also fallen sharply following record highs at the end of 2017. WirtschaftsWoche has found that, so far, only eight startups with a head …