New Jersey Accuses Blockchain Firm of Unregistered Securities Sale

New Jersey Accuses Blockchain Firm of Unregistered Securities Sale
imageCryptocurrency News10 hours ago (Jul 18, 2019 05:41PM ET)

New Jersey Accuses Blockchain Firm of Unregistered Securities Sale

The State of New Jersey alleges that a blockchain-based online rental marketplace sold over $400,000 of unregistered securities.

A complaint filed on July 17 accuses Pocketinns, Inc. and its president Sarvajnya G. Mada of offering and selling around $410,000 of unregistered securities in the form of a cryptocurrency dubbed “PINNS Tokens.” The tokens were sold through an initial token offering between Jan. 15 and Jan. 31, 2018. Neither Pockettins nor Mada have allegedly been registered with the state’s Bureau of Securities.

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New Jersey Accuses Blockchain Firm of Unregistered Securities Sale

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