Govt. Pauses SEC Suit Against $30 Mln ICO Amid Parallel Investigation Concerns

Prosecutors have paused a United States Securities and Exchange Commission (SEC) lawsuit against the alleged operators of a $30 million fraudulent ICO amid concerns that proceedings may impact the integrity of a parallel investigation into the defendants. The United States attorney’s office for New Jersey intervened in the case on April 2. SEC suit paused amid integrity concerns over the parallel investigation The SEC action against defendants Boaz Manor, Edith Pardo, and the associated companies CG Blockchain Inc and BCT Inc has been halted to maintain the integrity of parallel…

German Gov’t Approves New Plan to Block Private ‘Parallel Currencies’

Germany’s government has approved a blockchain strategy that aims to prevent stablecoins from becoming alternative currencies and threatening state sovereignty. Reuters reported on Sept. 18 that Chancellor Angela Merkel’s cabinet passed the strategy earlier today, in an apparent bid to mitigate the risks posed by the forthcoming Libra cryptocurrency from social media giant Facebook. We will not leave currency issuance “to private companies” Reuters cites Finance Minister Olaf Scholz as saying that while the government wishes to further strengthen Germany as a leading technology location and foster blockchain innovation as…