New Jersey Forces Two ICOs to stop in operaterion cryptosweep

Must Read

Top 5 DeFi Wallets in the Market Right Now

DeFi is arguably the hottest space in the entire cryptocurrency and blockchain ecosystem right now....

Gen2 Technologies’ Iris Media Network Signs Up Colin Garrett Racing

SPARKS, Nev., April 14, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) is pleased to...

Ethereum Blockchain: Current news and prediction round the future

 Ethereum is more sheltered than you may think, but by means of a decentralized app or exchange that hasn't...
- Advertisement -
Earn Free Bitcoin

The Bureau of Securities in New Jersey has issued two emergency orders to the companies Zoptax and Unocall to end their initial coin offerings (ICOs). The Bureau alleges that the token offerings qualify as fraudulent unregistered securities offerings.

The Office of the Attorney General in New Jersey announced the Bureau’s orders in a news release on Aug. 7. In the case of Zoptax, the report states that the company is offering the cryptocurrency Zoptax Coins through a website-conducted ICO. The website apparently states that the ICO has a soft cap of $500,000, as well as a hard cap goal of $3.4 million. 

In addition to being unlawfully unregistered as a security, the Bureau claims that Zoptax made “materially false and misleading statements and/or omitting to state material facts in connection with the offer and sale of its securities.” These reportedly include the allocation of ICO funds, pertinent information on the entities behind Zoptax, as well as pertinent location details such as the company’s physical address and principal place of business.

Likewise, the Bureau judged that the company Unocall had misled its prospective investors in the same manner. Unocall is also offering a website-conducted ICO, as well as opportunities in its ‘Staking Program’ which purportedly provides guaranteed interest of 0.18% to 0.88% per day. 

The firm is reportedly conducting its ICO in order to raise funds for developing its ecosystem that would allow for trading its native tokens, altcoins and fiat money through the company’s UNOpay Mobile Wallet.

- Advertisement -
- Advertisement -

Latest News

Top 5 DeFi Wallets in the Market Right Now

DeFi is arguably the hottest space in the entire cryptocurrency and blockchain ecosystem right now....
- Advertisement -Earn Free Bitcoin

Ken The Crypto tells You How to Get the Most out of the 2021 Bull Run

The year 2021 is what people call the "Bitcoin Year", and the reason is self-explanatory. This recent bull-run has brought...

DigiShares Releases Industry Report on Real Estate Tokenization

DigiShares, a white label security token issuance solutions provider, has released a detailed report outlining the state of the global...

Gen2 Technologies (MNIZ) To Hold Quarterly Update

SPARKS, Nev., March 29, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) wishes to inform its loyal shareholders that it...

Digital Securities & Tokenization Summit Announced for May 2021

Press Release 24 March 2021 DigiShares, the end-to-end white-label platform for...