03/12/18 12:37 UTC-4

Kakao, the largest Internet company, launches Crypto ICO, which is not subject to SEC verification

South Korea’s largest Internet conglomerate, Kakao, which has nearly 90 percent market dominance, launches the Initial Coin Offer (ICO) to raise funds for its blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
project called Clay.

On November 19, The Hankyoreh, a business-oriented magazine in South Korea, announced that Kakao plans to raise about $ 300 million to develop its own tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details

Most of the funds have already been provided by Ground X, a subsidiary of Kakao, which focuses on blockchain operations. The source added that the Chinese venture capital company is also involved in the sale of tokens.

In private sale, only registered, accredited and approved institutional investors can invest in the sale of Kakao tokens. Given that all Kakao’s meetings with accredited investors were held confidentially, the company planned a fundraising way so that it did not break the rules in Japan, South Korea and even the United States.

On November 27, Jay Clayton, chairman of the US Securities and Exchange Commission (SEC), said that the vast majority of ICOs, which are currently in the global cryptocurrency market, are securities in accordance with current US laws. Clayton stressed that if companies plan to raise funds through token sales, firms must either register with the SEC or conduct a private sale.

Companies prefer not to conduct private sales of tokens if they are not sure that the product, they offer will attract large investors, since private sales are just as difficult from a legal point of view as raising venture capital funding.

It can be argued that with the involvement of local financial institutions and, possibly, the

SEC, conducting a private sale of tokens is more resource-intensive than the traditional round of venture capital funding.

For Kakao, it was extremely important to follow both local and international rules, and not just collect the target amount of funding. This naturally led to the conglomerate conducting a private rather than a public sale, which could be more profitable.

Editor: Alyona Nabok

See also: "Israeli businessman Moshe Hogeg charged with illegally embezzling money from two ICOs"

#Kakao #ICO #SEC



02/04/19 09:00 UTC-4

100 Bitcoins in 2 minutes. How was IEO Paytomat on EXMO

Yesterday, April 1st, the first Eastern European IEO was successfully held. The Paytomat project attracted 100 Bitcoin investments in just two minutes. Tokensale took place on the EXMO cryptocurrency exchange

29/03/19 09:00 UTC-4

The first IEO in Eastern Europe. Paytomat on EXMO

From April 1-3, EXMO will host the first IEO in Eastern Europe. The Paytomat Estonian project, which has a great influence on the development of the crypto-industry in Ukraine, Russia and Poland, will participate in the tokensale.

Hypes, funds, fiat money