Massachusetts Censures Five ICO Crypto Startups in a Single Day

[RianDrops]

Crowdfunding in the United States is a most dangerous game. Massachusetts brought no fewer than five acts of censure on the same day this week. Censure is a formal legal settlement entered into, in this case, with crypto companies accused of financial law violations, and usually involve a Consent Order (to prevent further prosecution, individual steps of compliance are mandated). Purported new ways to view television, money for cancer victims, kids entertainment, small-investor pooling, and even a different take on finding freelance workers were impacted. 

Massachusetts Slams Five Crypto Companies on the Same Day
Across Platforms, Sparkco, Pink Ribbon, Mattervest, and 18 Moons were all issued formal Consent Orders this week, outlining their missteps and remedies they must take to avoid further prosecution. The near half dozen orders came from Massachusetts’ Secretary of the Commonwealth, William Gavin. Mr. Gavin, readers might recall, is on record at the height of last year’s bitcoin price run-up, likening the digital asset to a “craze” and “disaster.” And as far back as 2014, the state has been particularly unwelcoming to the currency’s future — its Office of Consumer Affairs and Business Regulation issued a public warning when just the second bitcoin ATM in the region was announced.

Source:https://news.bitcoin.com/massachusetts-censures-five-crypto-startups-in-a-single-day/