ICOs

·Aug. 11, 2017

ICO Fundraising Surpasses Early Stage VC Funding in June

Initial coin offerings (ICOs) raised $550 million in June, surpassing the angel and early stage venture capital fundraising for internet businesses globally; several factors could potentially slow the fundraising trend including security issues and a report from the Securities and Exchange Commission; despite some new challenges, ICO fundraising data shows the offerings also ahead of angel and early stage funding in July. Source

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Fintech News Roundup USA

·Aug. 4, 2017

Startup Incubator Science Targeting ICO up to $100mn

Startup incubator Science is launching a blockchain incubation program, Science Blockchain, and will raise an ICO targeting $50 million to $100 million; the ICO will be SEC compliant as only accredited US investors will be able to participate; Mike Jones, founder and CEO of Science, tells the Wall Street Journal, "We believe that using an ICO as a vehicle and methodology for raising capital is the right way do it, it allows us to practice what you preach."; whether or not investors will make more money using this method of capital raising remains to be seen but the momentum in the blockchain space continues. Source

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Asia/Pac Fintech News Roundup

·Aug. 2, 2017

Monetary Authority of Singapore Releases Report on Digital Token Offerings

The regulator says, "digital tokens in Singapore will be regulated by the Monetary Authority of Singapore (MAS) if the digital tokens constitute products regulated under the Securities and Futures Act"; if digital tokens fall under the definition of securities in the Securities and Futures Act then issuers are required to register a prospectus with MAS and other requirements may also apply to associated parties; overall the statement from the MAS increases the level of compliance needed for an initial coin offering. Source

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Fintech News Roundup North America

·Aug. 9, 2017

Alex Tapscott Planning for IPO of NextBlock Global

Alex Tapscott has raised $20 million for NextBlock Global, an investment firm investing in projects selling cryptographic tokens; he now has plans to list the company on the Toronto Stock Exchange; Tapscott is also the co-author of "Blockchain Revolution," which he wrote with his father, Don Tapscott, last year; with the IPO listing of NextBlock Global he hopes to further accelerate adoption of ICOs and blockchain. Source

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Fintech News Roundup USA

·Aug. 3, 2017

Lend Academy Article: Recent SEC Report on Blockchain ICOs Helps to Provide Some Clarity but Questions Remain

Last week the Securities and Exchange Commission (SEC) released a report on the initial coin offering (ICO) of the Decentralized Autonomous Organization (the DAO), which raised almost $150 million from investors using this new capital raising method (before returning the money); the report explained that the SEC views this ICO as a sale of securities and that the DAO was in violation of securities laws, though no enforcement action was taken. Source

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