Lots of trolling on this thread, its a shame. Although only what I expect I suppose, pump n dumpers trying to exaggerate the dump. I'm still hodling bitcoin cash on dips like this feel I might buy a bit to rebalance the old portfolio, won't be selling thats for sure. Is there a reason for the dip? As far as I can tell the network is ticking away quite happily.
While this excellent comment passed unnoticed, trolls keep polluting this thread, it's a shame, so true.
https://ftalphaville.ft.com/2017/10/05/2194474/crypto-apple-dealer-attempts-to-avoid-us-regulators/Noted crypto-securitisation shop LA Token says it won’t sell more tokens to US investors.
The announcement is intriguingly timed, to say the least — just a few days after the SEC charged two ICOs with fraud!
The regulator got an emergency court order to freeze the assets of Maksim Zaslavskiy, after it found he and his companies “have been selling unregistered securities, and the digital tokens or coins being peddled don’t really exist.” From the SEC’s release:
Zaslavskiy allegedly touted REcoin as “The First Ever Cryptocurrency Backed by Real Estate.” Alleged misstatements to REcoin investors included that the company had a “team of lawyers, professionals, brokers, and accountants” that would invest REcoin’s ICO proceeds into real estate when in fact none had been hired or even consulted.
LA Token also says it has plans to “tokenise” — meaning securitise — real estate. Weird! It says it’s already issued crypto-denominated securities based on Apple shares.
And its current US investors can still use its platform, according to LA Token:
The following changes apply only to the new contributions. Our early contributors can still use their LAT to pay for future transactions such as assets tokenization at the LAT platform and convert LAT into other cryptocurrencies, like Bitcoin or Ether.
Now, it’s not clear that anyone is actually using the platform anyway.
The “trade history” says a total of 92 tokens traded on Wednesday, the equivalent of 92 Europe-listed shares of Apple. For context, 20.1m shares of Apple’s real US-listed stock traded on Wednesday, according to Reuters.
This all comes after the company went through a rather dizzying series of changes regarding its US investors. First they didn’t have any stated rules about it. Then we asked them, and they rather quickly turned around and said US investors couldn’t participate. Then they said their tokens were actually just utility coins, for “future platform usage such as assets tokenization”.
Of course, there’s no clear explanation of the way crypto-securities purchases would fit into the “utility token” framework. (As far as we can tell, the point of that distinction is to make sure crypto is not used for securities purchases.)
The company says “they hedge they [sic] bets by closing the sales to US citizens and residents. LAToken follows the trend.”
