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ShipChain rate fell by 50% amid accusations of violation of the law on securities

ShipChain has 30 days to request a hearing on the case.

23.May.18 8:34 AM
By John M Jeffcoat


ShipChain rate fell by 50% amid accusations of violation of the law on securities
It is reported that the exchange value of the ShipChain (SHIP) token fell by almost half, immediately after the news that the South Carolina State Attorney General issued an order to stop the illegal start-up activities immediately.

The document says that the company was engaged in the distribution of investment contracts issued for digital tokens, which are "the only means of exchange on its platform." These actions were made on the startup web page for all comers. Throughout the work, at ShipChain there was no registration as a broker-dealer.

The South Carolina prosecutor's office warned the company's management that it has 30 days in stock, during which time the startup can request a hearing on the incident. During the trial, ShipChain must reasonably prove that the sale of its tokenized assets is not the implementation of unregistered securities. If this does not happen, the state regulator will impose a ban on the activities of this company in the cryptocurrency market.

Recall that ShipChain is a blockade site that monitors the supply of products and goods, and is part of the transport block alliance along with such major companies as FedEx and JD. com.

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