Another Celebrity Endorsed Ico Aiming To Heighten $50 1000000 Ordered To Nigh Down, Supply Funds To Investors...
The Australian equivalent of the SEC is known every bit "ASIC", Australian Securities in addition to Investments Commission - in addition to spell the specifics of the illustration haven't been made public, today the fellowship announced they accept been ordered to cease operations.
Their website has been completely dismantled, amongst the exception of the next message:
"We would similar to inform you lot that the Global Tech Exchange’s (‘Global Tech’) Initial Coin Offering (ICO) has at 1 time ceased inward accordance amongst ASIC requirements.
As a number of this Global Tech has issued total refunds to all investors. If you lot accept invested amongst Global Tech in addition to accept non all the same received a refund delight contact support@gttrade.io.
We would likewise similar to inform you lot that Michael Clarke is no longer associated amongst Global Tech Exchange in addition to the Global Tech Exchange Blockchain teaching in addition to awareness program.
Global Tech would similar to inform you lot that it wishes to comply amongst all of ASIC’s requirements in addition to requests, to the best of it’s ability."
So far, Australian regulators accept been fairly reasonable - of the v ICO's they unopen down, iv of them were allowed to commencement dorsum upwards subsequently implementing changes that ASIC requested. Which leads us to believe whatever GTrade's violations were, they were severe plenty to warrant an entire closer - amongst no bit chances.
Author: Justin Derbek
New York News Desk
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