By Robert Kim
The Securities and Exchange Commission permanently barred a repeat securities fraud offender based on a scheme to raise funding via an initial coin offering. David T. Laurance fraudulently attempted to raise money for Tomahawk Exploration LLC through the sale of “Tomahawkcoin” tokens, the SEC said.
In Saudi Arabia, a government committee warned that Bitcoin and other virtual currencies are illegal in the kingdom.
The following are updates to the Digital Currency, Blockchain, FinTech Regulatory Relief, and ICO Trackers, available on Bloomberg Law, from the week of August 13-17, 2018. They include U.S. federal, U.S. state, and foreign government actions affecting the use of digital currency and blockchain, and regulatory enforcement actions and private class action litigation against ICOs.
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