The Secretary of state of Massachusetts William Galvin (William Galvin) has ordered the suspension of five ICO, as organized their company offered investors unregistered securities under the guise of tokens.
The ban came 18moons startups, Across Platforms, Mattervest, Pink Ribbon and Sparkco. Within 30 days they must offer investors a refund, and then within 45 days after receiving consent to return the money. Then companies will have to provide the authorities with reports on disbursed.
All five of the company it is strictly forbidden to offer users of unregistered securities, but they can get the appropriate procedure or officially claim the exemption from registration of securities — in accordance with the law.
We will remind, in the end of 2017 William Galvin said that bitcoin does not pass the “smell test”. And in January of this year, its criticism of the project Caviar, which was also prohibited to offer the citizens of the United States of unregistered securities under the guise of tokens. Although the founder and head of Caviar Cyril Bessonov claimed that they registered in the Cayman Islands, the company focused on investors from other countries, the regulator found that some Americans still gave their money to the project, and imposed a ban.