PR: LAToken Closed Round 1 of the Token Sale at $330m Valuation – Bitcoin News

London, August 30, 2017 – LAToken, the first tokenized assets platform, has completed the Round 1 of its Public Token Sale way ahead of schedule at $330 million valuation*. We sold 30,000,000 LATs, raising $9,54 million in 3 days.

LAToken Public Token Sale will be completed in 4 Rounds with the proceeds used for tokenization and trading development of the key asset classes. The price will increase in each round. Round 2 starts on September, 5. We will sell 50,000,000 LATs at 0,0011 ETH. The proceeds will be used for tokenization and trading development of Real Estate. The price for Round 3 will be 0,0013 ETH.

LAToken is a blockchain platform that tokenizes and makes tradeable assets ranging from equity and debt to real estate and works of art. Crypto investors can already trader Apple, Amazon, and Facebook shares, as well as gold and oil on our platform and diversify their portfolios with blue chips, safe haven assets, and commodities, using cryptocurrencies.

«LAToken bridges the crypto- and real economies by enabling our clients to trade real assets in cryptocurrencies. This will make markets more efficient, transparent and cost effective. We are happy that so many people share our vision and believe in LAToken», — says Valentin Preobrazhenskiy, CEO of LAToken.

LAToken attracted top-notch experts from global financial institutions, IT and security companies to its Advisory Board, that now includes Bradley Rotter (Rivetz), Anish Mohammed (Hyperloop), Hague Van Dillen (Franklin Templeton). Just a few days ago the former COO of UBS and Senior Regulatory officer of Deutsche Boerse Cecilia Mueller Chen joined our team to advise on legal and regulatory compliance.

About us

LAToken transforms access to capital and enables cryptocurrencies to be widely used in the real economy by making real assets tradable in crypto.
We decentralize capital markets, making them more transparent, efficient and sustainable while removing the cost of traditional middle men and “too big to fail” institutions.
This results in smarter capital flow, empowering people across the world to bring their most productive ideas to life for the ultimate benefit of society.

Contact details

Tel: +44 7509 764697
Email: ico@latoken.com
* with frozen tokens taken into account

Press Contact Email Address
kate@latoken.com
Supporting Link
https://sale.latoken.com/

‘Source: PR: LAToken Closed Round 1 of the Token Sale at $330m Valuation – Bitcoin News

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Cryptocurrency Cyber Crime Has Cost Victims Millions This Year – Bloomberg

  • More than 10% of ether holdings for ICOs this year missing
  • More than 30,000 have lost about $7,500 each from ether crime

Here’s another reason to be leery of the initial coin offerings being done at a staggering pace in the cryptocurrency world: there’s a one-in-10 chance you’ll end up a victim of theft.

Phishing scams have helped push up criminal losses to about $225 million this year, according to Chainalysis, a New York-based firm that analyzes transactions and provides anti-money laundering software. In such scams, investors are tricked into sending money to internet addresses pretending to be funding sites for digital token offerings related to the ethereum blockchain technology.

More than 30,000 people have fallen prey to ethereum-related cyber crime, losing an average of $7,500 each, with ICOs amassing about $1.6 billion in proceeds this year, Chainalysis estimates.

“It’s a huge amount of money to generate in such a short period of time,” said Jonathan Levin, co-founder of Chainalysis, whose software and database are used by some of the largest bitcoin companies and U.S. law enforcement agencies. “The cryptocurrency phishers are doing pretty good against all the other types of criminals that are out there.”

Indeed, the huge amount of wealth that has fallen prey to cyber criminals is approaching the losses incurred by robberies in the U.S. for the entire year of 2015, which stood at $390 million, according to statistics released by the Federal Bureau of Investigation.

ICOs are digital token sales typically that raise ether, with users transferring the funds to addresses provided by startups. Investors, sometimes eager to get early access to new token offerings have been tricked into providing their credentials to fake websites through targeted email campaigns, twitter posts and Slack messages, said Levin.

Read more about an Ethereum co-founder’s views on ICOs

Ether rose 0.3 percent to $324.92 on Thursday, according to data from coindesk, while bitcoin rose 0.4 percent to $4,151.47.

Most attacks involve creating websites or social media accounts that sound similar to the real ICO project. Levin gave the fictional example of a project named “illuminate,” which an imposter might fake by spelling it as “iIIuminate.” Using the fake account, they would solicit potential investors to send money to the criminal’s address.

His firm compiled the data by identifying so-called digital wallets used by scam artists. That information is usually public because criminals widely circulate it, hoping to fool investors into sending them money.

Other common forms of crime involve tapping into project loopholes. The DAO, or decentralized autonomous organization, is a smart contract project built on top of ethereum that was intended to democratize how ethereum projects are funded. A bug in the system was exploited and that led to the theft of $55 million worth of ether at the time.

Read more on how tech startups are ditching venture capital for ICOs

Levin didn’t provide data for bitcoin-related cybercrime, and not because it is any safer. He said such data is harder to track as scams are usually specific attacks on individual holders, rather than ICO-related campaigns which try to dupe many people at once.

“The overall figures mean there are infrastructure that we need to build to help prevent people from getting abused,” said Levin.

Source: Cryptocurrency Cyber Crime Has Cost Victims Millions This Year – Bloomberg

myGeoTracking Teams with Rivetz to Provide State of the Art Device Security for Mobile Field Employees – Blockchain News

myGeoTracking and Rivetz combination to ensure better mobile device and data security, and an enhanced user experience for Healthcare, Transportation, and other field service workers

Abaqus, Inc., provider of the myGeoTracking cloud-hosted mobile workforce management and transportation logistics platform, today announced it has teamed with Rivetz International to integrate the advanced Rivetz mobile security solution into its platform. Abaqus customers will benefit from hardware protected authentication and encryption capabilities for mobile security that will enable next generation solutions for field operations in industries such as healthcare, utilities and emergency responders.

“We continually strive to provide our customers with the best tools in the market to protect their data and create a great user experience,” said Shailendra Jain, CEO of Abaqus, Inc. “The Rivetz solution provides us with the advanced cybersecurity capabilities we need to meet our customer demands in industries requiring sensitive data collection in the field including healthcare, utilities and first responders.”

Rivetz’s state-of- the-art decentralized security harnesses the Trusted Execution Environment (TEE) and blockchain to protect users’ mobile data and privacy. It’s like a hidden vault (already embedded in most phones) that no OS or software can eavesdrop on. Rivetz Blockchain provides the secure recording of compliance and integrity data.

“Cybersecurity and mobile data protection is an ongoing challenge for all companies,” said Steven Sprague, Founder and CEO of Rivetz. “We are excited to help Abaqus leverage next generation cybersecurity technology to meet and exceed their customers’ expectations going forward.”

Richard Kastelein is the Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News, partner of token design and ICO architecture company Cryptoassets Design Group and co-founder and director at education company Blockchain Partners.

As a prominent keynote presenter, Kastelein has spoken on Blockchain at events in Gdansk, Beijing, Venice, Nanchang, Shanghai, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Munich, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona, San Meteo etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

Visit Website

Source: myGeoTracking Teams with Rivetz to Provide State of the Art Device Security for Mobile Field Employees – Blockchain News

LAToken Tokenized Apple Shares to Sell Them for Cryptocurrencies – Blockchain News

LATokenLAToken launched test trades of tokenized Apple shares at LAT Exchange, the first tokenized assets exchange, that allows its clients to sell and buy securities and real assets using cryptocurrency.

Within weeks LAToken will list new asset classes, ranging from real estate to works of art at LAT Exchange, open the doors to assets worth trillions of dollars onto a Blockchain exchange and enabling cryptoinvestors to buy them at minimal transaction costs and maximum transparency and security.

The idea behind LAToken is that tokenizing and making tradeable assets can take the whole investing process to a new level. Here’s how our platform works. Asset owners sell fractions of their asset to a LAT-certified custodian. The LAT custodian tokenizes the asset and sells it to a wide range of investors, from hedge funds to individuals, at the LAT Exchange. Then investors can sell the asset-backed tokens on a secondary market. On the settlement date, the seller buys his asset back, or the custodian sells it at a fiat auction.

To illustrate the disruptive cost reduction we bring to equity and debt financing, here is a comparison of the listing terms and costsat the New York Stock Exchange and the ones LAToken will offer.

The differences are striking. First, we have no limit for the minimum issue volume, while listing at NYSE requires a minimum of $100 million for equity and $5 million for debt. The LAT Exchange has no annual listing fees, while companies pay $100,000 to list equities and $20,000 to list debt at NYSE. Underwriters fees for LAToken’s clients are negligible, much lower than the 2-5% at NYSE. Listing  preparation at LAToken takes less than a week, compared to approximately 6 months at NYSE. Additionally, the retail transaction fees are 1,000 times lower.

latokendrake

 “My dream is to build a NASDAQ on Blockchain with a wider range of tradable assets, blurring the boundaries between crypto- and real ecomonies, and offering our clients a dramatic reduction of listing costs, settlement time, and transaction costs,” says Valentin Preobrazhenskiy, CEO of LAToken. “Another advantage of LAT Exchange is that the Blockchain technology can remove one of the main challenges in the investment process — the asymmetry of information between buyers and sellers — helping us reach full transparency of transactions and protecting against accidental loss of data or its deliberate distortion, ” he adds.

The platform is already operational, and to develop it further, LAToken starts a public token sale on August 22. There will be four rounds, each designed to add a new asset class.

Source: LAToken Tokenized Apple Shares to Sell Them for Cryptocurrencies – Blockchain News

‘Bitcoin Regulation Act’ Introduced in South Korea Bans MLMs – Bitcoin News

‘Bitcoin Regulation Act’ Introduced

'Bitcoin Regulation Act' Introduced in South Korea
Rep. Park Yongjin

Korean Democratic Party lawmaker Park Yong-jin announced last week that he has introduced an amendment for the Electronic Financial Transaction Act. Its main purpose is to create a regulatory framework for digital currencies in order to “maintain healthy market order and protect users,” Inews24 reported. Business Korea calls this amendment the “Bitcoin Regulation Act.”

“As interests in virtual currencies such as bitcoin and ethereum have soared,” Park said “there is no clear definition of virtual currencies or restrictions on those who can sell virtual currencies.” He first announced that he would introduce this legislation back in July. Business Korea wrote:

The Bitcoin Regulation Act is scheduled for a regular session of the National Assembly in September with a growing debate foreseen.

Definitions and Classifications

'Bitcoin Regulation Act' Introduced in South KoreaIn this amendment, virtual currency is defined as “an instrument of exchange or an electronic store of value,” reported Inews24. It also distinguishes virtual currency from “real” currency. The amendment proposes five classifications of digital currency handlers with the following definitions.

  • “Virtual currency traders” – those selling goods or services in exchange for digital currency.
  • “Virtual currency dealers” – those operating a market for the sale of virtual currencies such as exchanges.
  • “Virtual currency brokers” – those intermediating or arranging the sale of digital currency.
  • “Virtual currency issuers” – those offering systems to create and issue digital currencies, and
  • “Virtual currency managers” – those storing or managing digital currencies for others.

Requirements and Prohibited Activities

The revised legislation requires all digital currency handlers “to have 500 million won or more in capital and receive approval from the Financial Supervisory Commission,” detailed Business Korea.

'Bitcoin Regulation Act' Introduced in South KoreaThe amendment also mandates customer funds be deposited at a separate institution with insurance, or some form of payment guarantee in order to protect customers, the publication added.

The legislation prohibits several specific digital currency-related activities such as their sale and brokering through door-to-door and multi-level marketing schemes. It also strictly prohibits illegal acts involving digital currencies, such as market price manipulation and money laundering. Violations can carry a prison sentence of up to five years or a fine of up to 50 million won, Business Korea detailed.

Source: ‘Bitcoin Regulation Act’ Introduced in South Korea Bans MLMs – Bitcoin News

Rivetz Raises $5.5 Million in RvT Token Pre-Sale; Public Token Crowdsale Begins Today, Capped at 200,000 ETH – CryptoCoinsNews

First Decentralized Cybersecurity Token Poised to Add Unprecedented Proof and Assurance of Privacy and Security at the Hardware Level for Billions of Consumer, Business and M2M Transactions

GEORGE TOWN, CAYMAN ISLANDS – August, 10 2017, Rivetz Intl, Inc. (https://rivetzintl.com) today announced it has secured $5.5 million USD (19,000 ETH) in a private presale of its Rivet (RvT) token, a cybersecurity token developed to provide verifiable security controls for cloud authentication, IoT, blockchain, and legacy financial transactions.  The RvT token enables multifactor authentication across devices, to achieve provable security at both the transaction and authentication level. The Rivetz solution uses technology that is already built in to hundreds of millions of mobile devices to assure the keys and transactions can not be altered or stolen by malware infecting the operating system. The token sale will open to the public on August 10, 2017 at 17:00 UTC.

Institutional buyers in the presale, including BnkToTheFuture and Tally Capital, are vocal in their support for Rivetz’s multifactor authentication solution.

“We are very supportive of the goals of Rivetz and happy to add it to our portfolio of tokens,” said Simon Dixon, CEO BnkToTheFuture.com. “Turning our phones into hardware wallets in a way that is scalable will be an important advancement as the world adjust to owning their own digital assets. Rivetz CEO Steven Sprague is a true expert in the field of security, and the perfect leader to bring this innovation in personal security forward.”

“The Rivetz token distribution is a groundbreaking moment in decentralized cybersecurity,” said Matthew Roszak, managing director of Tally Capital and co-founder of Bloq.  “Rivetz provides consumer protections and simplicity that will help blockchain applications achieve their next level of adoption.  This new platform will add a crucial new layer of protection to exchanges, wallet and new tokens to ensure a level of data integrity and identity protection never before available.”

The token sale is led by leading crowdfunding platform TokenMarket. For more information, visit https://rivetzintl.com. The team is available to answer questions on  Slack  or Telegram

About Rivetz

Rivetz is focused on solving problems associated with consumer and machine-to-machine digital transactions. Rivetz technology and services aim to provide a safer and easier-to-use model for all users to protect their digital assets using hardware-based trusted execution technology. The device aims to play a critical role in automating security and enabling the controls that users need to benefit from modern services. Rivetz leverages state-of-the-art cybersecurity tools to develop a modern model for users and their devices to interact with services on the Internet. For more information, visit http://www.rivetz.com

All product and company names herein may be trademarks of their registered owners.

Rivetz Media Contact: Transform Group, rivetz@transform.pr
Rivetz Company Contact: info@rivetz.com
TokenMarket Contact: Freya Stevens, freya@tokenmarket.net

Source: Rivetz Raises $5.5 Million in RvT Token Pre-Sale; Public Token Crowdsale Begins Today, Capped at 200,000 ETH – CryptoCoinsNews

Guide to Buying NEO (Antshares) on Bittrex Exchange

Guide to Buying NEO (Antshares) on Bittrex Exchange

There’s lots to learn in this post. To help you remember, try using my app Harvest, the easiest way to grow your mind. Write or highlight any text and automatically receive reminders on the content (Add from Chrome store).

Prerequisites

Technical Literacy

  • Register an account
  • Enable Two-Factor Authentication
  • Set up an offline wallet on your desktop

Financial Literacy

  • Understand exchange rates
  • Understand a basic transaction (buyer, seller, price, volume)
  • Know your investment limits

Table of Contents

  1. Get Bitcoins
  2. Fund Bittrex Account
  3. Learn Trading Basics
  4. Buy NEO

1. Get Bitcoins

For most people, getting Bitcoins (BTC) is the first step to acquiring cryptocurrencies like NEO. BTC is the world’s crypto reserve currency, like the role USD plays for fiat. Got some obscure coin? Someone out there is probably willing to buy or sell it for BTC.

There are tons of ways to get BTC, but the easiest way is to use the most established crypto platform in the USA, Coinbase.

Help me help you! Sign up for Coinbase using my referral code (already in the link) and we both get $10!

On Coinbase, you’ll be able to purchase BTC with conventional fiat ways (like bank account and wallet), which I won’t even begin to describe here. I’ll wait here while you buy some.

A few days later…

Okay great! Let’s get those BTC over to Bittrex, one of the best exchanges for acquiring coins like NEO. Tab on over in your Coinbase account to “Send” and pop in that Bitcoin address from your Bittrex account with all of your newly bought BTC.

I have only 0.0023344 BTC 😦

2. Fund Bittrex Account

What Bittrex account address, you ask? If you haven’t already, make an account on Bittrex with basic and phone verifications set up so you can get some Digital Token Trading in. If everything is set up correctly, then your “Settings” tab should have a check mark like the following:

Now you can head over to your “Wallets” tab and click on the “+” next to “Bitcoin”. Clicking on that will pop open an address that represents your personal online wallet that Bittrex holds for you. This address is where you should be sending your BTC that you bought from Coinbase.

Yea that’s my real wallet on Bittrex. Feel free to send any BTC ^^

Continue Reading Here: Guide to Buying NEO (Antshares) on Bittrex Exchange

SEC Issues Investigative Report Concluding DAO Tokens, a Digital Asset, Were Securities

sec.jpg

U.S. Securities Laws May Apply to Offers, Sales, and Trading of Interests in Virtual Organizations

FOR IMMEDIATE RELEASE
2017-131

Washington D.C., July 25, 2017—

The Securities and Exchange Commission issued an investigative report today cautioning market participants that offers and sales of digital assets by “virtual” organizations are subject to the requirements of the federal securities laws. Such offers and sales, conducted by organizations using distributed ledger or blockchain technology, have been referred to, among other things, as “Initial Coin Offerings” or “Token Sales.” Whether a particular investment transaction involves the offer or sale of a security – regardless of the terminology or technology used – will depend on the facts and circumstances, including the economic realities of the transaction.

The SEC’s Report of Investigation found that tokens offered and sold by a “virtual” organization known as “The DAO” were securities and therefore subject to the federal securities laws. The Report confirms that issuers of distributed ledger or blockchain technology-based securities must register offers and sales of such securities unless a valid exemption applies. Those participating in unregistered offerings also may be liable for violations of the securities laws. Additionally, securities exchanges providing for trading in these securities must register unless they are exempt. The purpose of the registration provisions of the federal securities laws is to ensure that investors are sold investments that include all the proper disclosures and are subject to regulatory scrutiny for investors’ protection.

“The SEC is studying the effects of distributed ledger and other innovative technologies and encourages market participants to engage with us,” said SEC Chairman Jay Clayton. “We seek to foster innovative and beneficial ways to raise capital, while ensuring – first and foremost – that investors and our markets are protected.”

“Investors need the essential facts behind any investment opportunity so they can make fully informed decisions, and today’s Report confirms that sponsors of offerings conducted through the use of distributed ledger or blockchain technology must comply with the securities laws,” said William Hinman, Director of the Division of Corporation Finance.

The SEC’s Report stems from an inquiry that the agency’s Enforcement Division launched into whether The DAO and associated entities and individuals violated federal securities laws with unregistered offers and sales of DAO Tokens in exchange for “Ether,” a virtual currency. The DAO has been described as a “crowdfunding contract” but it would not have met the requirements of the Regulation Crowdfunding exemption because, among other things, it was not a broker-dealer or a funding portal registered with the SEC and the Financial Industry Regulatory Authority.

“The innovative technology behind these virtual transactions does not exempt securities offerings and trading platforms from the regulatory framework designed to protect investors and the integrity of the markets,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division.

Steven Peikin, Co-Director of the Enforcement Division added, “As the evolution of technology continues to influence how businesses operate and raise capital, market participants must remain cognizant of the application of the federal securities laws.”

In light of the facts and circumstances, the agency has decided not to bring charges in this instance, or make findings of violations in the Report, but rather to caution the industry and market participants:  the federal securities laws apply to those who offer and sell securities in the United States, regardless whether the issuing entity is a traditional company or a decentralized autonomous organization, regardless whether those securities are purchased using U.S. dollars or virtual currencies, and regardless whether they are distributed in certificated form or through distributed ledger technology.

The SEC’s Office of Investor Education and Advocacy today issued an investor bulletin educating investors about ICOs. As discussed in the Report, virtual coins or tokens may be securities and subject to the federal securities laws. The federal securities laws provide disclosure requirements and other important protections of which investors should be aware. In addition, the bulletin reminds investors of red flags of investment fraud, and that new technologies may be used to perpetrate investment schemes that may not comply with the federal securities laws.

The SEC’s investigation in this matter was conducted in the New York office by members of the SEC’s Distributed Ledger Technology Working Group (DLTWG) — Pamela Sawhney, Daphna A. Waxman, and Valerie A. Szczepanik, who heads the DLTWG — with assistance from others in the agency’s Divisions of Corporation Finance, Trading and Markets, and Investment Management. The investigation was supervised by Lara Shalov Mehraban.

###

Russia Prepares to Legalize ICOs – Bitcoin News

Russia is currently working on a regulatory framework to legalize Initial Coin Offerings (ICOs), local publications reported on Wednesday. This is in addition to a bill that is being finalized to recognize cryptocurrencies such as bitcoin and ether.

Also read: Russian President Vladimir Putin Discusses Using Ethereum with Vitalik Buterin

Amending Law to Recognize ICOs

Russia Prepares to Legalize ICOsRussian lawmakers are working on amendments to the civil law aimed at legalizing ICOs, according to Vedomosti, one of Russia’s largest newspapers. Discussion of the amendments has already begun by an interdepartmental working group under the State Duma, which has been assessing the risks of cryptocurrency use in the nation.

An associate criminal law professor at the Moscow State Institute of International Relations (MGIMO), Elina Sidorenko, heads the working group. “The group includes representatives from the Parliament, including the initiative’s originator Andrei Lugovoi. We also cooperate with other parliamentary committees,” she told Forklog in an interview published on Tuesday. “Aside from that, there are representatives from the central bank and the financial monitoring service.”

The Need to Regulate ICOs

According to Konstantin Vinogradov, Senior Associate at Runa Capital, there were more than 150 ICOs globally in the past year, which totaled more than $500 million.

Sidorenko explained that “legislative gaps exist which do not allow legal settlement of crowdfunding issues and ICO contracts,” according to Russian 360tv which also reported her saying:

The State Duma should undertake the development of legal mechanisms that would allow the verification of such contracts. They should also be designed to identify users and protect the rights of the holders of tokens to fulfill the obligations of issuing companies.

Source: Russia Prepares to Legalize ICOs – Bitcoin News

Blockchain Security Firm Rivetz Launches ICO

This is a new ICO offering from blockchain security company Rivetz that I wrote about earlier this month that I have been advising off and on for several years now.

The Rivetz Ecosystem

Rivetz is a state-of-the-art toolkit for harnessing the Trusted Execution Environment (TEE) to protect your secrets, your finances, and your privacy. It’s like a hidden vault (already embedded in most phones) that no OS or software can eavesdrop on.

The RvT (Rivet) Token

Rivetz uses the RvT (Rivet) token and blockchain to cryptographically prove that the vault (TEE) in your phone is secure, from the manufacturer to your pocket. Once your vault’s integrity and health is verified, you know any transactions you send are exactly the ones you intended.

 Only Rivetz Provides AssuranceOnly Rivetz utilizes the hardware security embedded in devices! Rivetz truly secures customers’ devices and transactions from being exposed and protects software development companies from financial exposure and public embarrassment.

RvT Token Sale Details

200 MILLION TOKENS ISSUEDAvailable in Token…Incentivized Distrib…1/235%35%30%

Task Token Allocation
Available in Token Sale 70,000,000
Incentivized Distribution 60,000,000
Reserved for Future Use 70,000,000

Total token supply fixed at 200 Million (200,000,000) RvT, of which:

  • 70M available in tokensale
  • 60M promotional tokens used for approved marketing and incentive purposes
    • 30,000,000 available
    • 30,000,000 locked by smart contract for up to 1 year
  • 70M reserved for future use.
    • 10,000,000 now,
    • 20,000,000 locked by smart contract 12 months
    • 20,000,000 locked by smart contract 24 months
    • 20,000,000 locked by smart contract 36 months
  • Tokens will be sold for ETH.
  • A Presale is available and will require a minimum purchase of 150ETH. For more information please contact presale@rivetzintl.com!
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