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

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

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

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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.

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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!

Initial Coin Offerings: An Overview of Regulatory Considerations | JD Supra

icoIn recent months, a variety of companies have considered “initial coin offerings” (ICOs) as a way to generate money for their businesses. Companies considering ICOs should be aware that, depending on the structure of the coins they are offering, an ICO may involve an offering and sale of securities subject to regulation by the Securities and Exchange Commission (SEC) and/or swap contracts subject to regulation by the Commodity Futures Trading Commission (CFTC). An ICO also may subject a company to potential regulation as a money services business, which could mean that the company needs to comply with anti-money laundering, money transmission, and other applicable laws. Importantly, although the coins being issued may be called tokens or referred to in some other way, regardless of what they are called, the following discussion applies.

When do the SEC and/or CFTC have jurisdiction over an ICO and the coins being offered?

The following flow chart provides an overview of when companies are most likely to need to consider SEC and/or CFTC regulatory issues:

Read More: Initial Coin Offerings: An Overview of Regulatory Considerations | JD Supra

Brave’s BAT Pre-Sale ICO May Have Comprised the Sale of Unregistered Securities

A discussion pertaining to the legality of ICOs is overdue. With a flood of new projects entering the markets recently, developers are seemingly printing money out of thin air in the form of cryptographic tokens on a weekly basis, which are then passed onto greedy investors seeking to find the next big crypto. With ICOs raising almost half a billion USD in the last 2 years, it is unsurprising to see the SEC taking an interest in the current ICO landscape.

A recent article posted on Medium has sought to argue that Brave’s BAT pre-sale ICO and others like it may comprise the sale of unregistered securities, and are thus illegal.

Continue Reading

Also Read:

SEC may be Looking for Ways to Regulate the Cryptocurrency ICO Market

Legality of Basic Attention Token and Other ICOs Called Into Question

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