Unregistered ICO

3 Colorado Based Companies Have Been Accused Of Offering Unregistered ICOs

Three cryptocurrency companies from Colorado have been accused of offering unregistered ICOs by Securities Commissioner Gerald Rome.

This was the end result of an investigation that was conducted by the Colorado Division of Securities ICO Task Force.

The ICO Task Force is investigating potentially fraudulent ICO securities offerings. The three companies are Bionic Coin, Syberlabs Ltd., aka Crypto ARB and Global Pay Net, aka GLPN Coin and GPN Token. The information available on these three companies is:

  • Bionic Coin’s website provides information for an ICO named “Bionic” or “BNC.” The website cites that the funds raised during the ICO are being used for an application which is enabling payments all over the globe. There isn’t any address or control person listed.
  • Sybrelabs Ltd., which is supposedly located in Cambridgeshire, England, promotes an unregistered security in the form of an investment pool that claims to allow for cryptocurrency exchange trading using a “crypto arbitrage robot.”
  • Global Pay Net is a company marketing an ICO raising money for an application that would create an international, blockchain-based financial platform. The website is allegedly working with a lot of well-known crypto platforms, but the investigation found no proof for that.

 

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