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Top-5 Important Security Tokens News (Week #2)

Top-5 Important Security Tokens News (Week #2)

We have prepared for you the most important news from the Security Tokens area for the past week. SEC is in the game, ICO's turned into STO's, Polymath core update and more.

1SEC made Statement on Digital Asset Securities Issuance and Trading

All the thext worth reading. Here is the most important part: Today, the Commission issued settled orders against AirFox and Paragon in connection with their unregistered offerings of tokens. Pursuant to these orders, AirFox and Paragon will pay penalties and also have undertaken to register the tokens as securities under Section 12(g) of the Securities Exchange Act of 1934 ("Exchange Act") and to file periodic reports with the Commission. They have also agreed to compensate investors who purchased tokens in the illegal offerings if an investor elects to make a claim. View source

2The ICO Issuers Agreed to Register Tokens as Securities

Airfox, a Boston-based startup, raised approximately $15 million worth of digital assets to finance its development of a token-denominated “ecosystem” starting with a mobile application that would allow users in emerging markets to earn tokens and exchange them for data by interacting with advertisements. Paragon, an online entity, raised approximately $12 million worth of digital assets to develop and implement its business plan to add blockchain technology to the cannabis industry and work toward legalization of cannabis. Neither Airfox nor Paragon registered their ICOs pursuant to the federal securities laws, nor did they qualify for an exemption to the registration requirements. View source

3DOVU will Conduct STO with TokenMarket

Token advisory service provider TokenMarket announced on Tuesday that it had reached an agreement with blockchain-oriented DOVU, which focuses on mobility use cases. According to the partnership, TokenMarket will support DOVU with its first security token offering (STO) event.

DOVU, a startup backed by Jaguar-Land Rover's investment branch InMotion Ventures and UK non-profit organization Creative England, had its token sale event last year and secured $6.2 million. View source

4Polymath Announced its Core v2.0.0 Release

"This 2.0.0 release comes with a lot of goodies, which I’ll explain below, but these improvements come at a price. In order to introduce some of these new features, breaking changes had to be made to the underlying SecurityToken smart contract and many other registries and modules, which inevitably break backwards compatibility." View source

5The First ETO Will Be Offered by Neufund

The first company to conduct its Equity Token Offering (ETO) through Neufund is Fifth Force GmbH (the official platform operator and the legal entity behind Neufund). The offering will start on November 27th with a whitelist subscription period, and end on December 16th after seven days of public sale (that will start December 9th). Fifth Force GmbH is the official platform operator of Neufund, an end-to-end solution for securities tokenization and issuance. View source

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