Rice is accused of scamming investors out of more than $4 million through a cryptocurrency scam that promised federally insured accounts and brand-name credit cards.
In addition, CapBridge is working with global blockchain technology firm ConsenSys. Both ventures have announced plans to build a fully compliant, private securities exchange on the public Ethereum blockchain.
This broad, authoritative declaration is not unexpected, as, to date, the SEC has stated that all digital assets — regardless of whether they function as alt coins or utility tokens — are securities at least initially and, thus, subject to its jurisdiction.
Gabor Gurbacs is confident that the approval of a bitcoin exchange traded fund (ETF) is inevitable. And he’s optimistic that the VanEck SolidX Bitcoin Strategy will be the first to deliver one to the world.
Airfox and Paragon Coin were charged by the SEC for running their ICOs after the regulator clearly defined such offerings as unlicensed securities in its DAO Report of Investigation.
Tax accountants and firms that specialize in cryptocurrency will emerge to capture and service this market. The first movers will be the ones who stand to capture the oversized profits.