Re:SEC asked Coinbase to halt trading for everything except ...
by Barrin92 on Monday July 31, 2023 @02:34AM
(#36939443)
Doesn't seem that way to me. all you need to do is to file an S-1. The issue is an entirely different one which is obvious when you look at the case studies in the second post.
>"Paragon Coin Inc. (“Paragon”) was a Delaware company that raised $12 million from their 2017 ICO of “PRG Tokens” as part of a scheme to integrate blockchain technology to the cannabis industry."
The "PRG Token" is just a share in the company. This is a security you should only be able to buy on a registered exchange. The business obviously failed beacuse blockchain in the cannabis industry is utterly useless, the company went broke, and the actual plan off selling their worthless tokens on a random internet platform didn't work out. So the SEC literally just did its job.
>"Paragon Coin Inc. (“Paragon”) was a Delaware company that raised $12 million from their 2017 ICO of “PRG Tokens” as part of a scheme to integrate blockchain technology to the cannabis industry."
The "PRG Token" is just a share in the company. This is a security you should only be able to buy on a registered exchange. The business obviously failed beacuse blockchain in the cannabis industry is utterly useless, the company went broke, and the actual plan off selling their worthless tokens on a random internet platform didn't work out. So the SEC literally just did its job.