Multimillion Tezos ICO faces termination threat
Tezos, a seemingly promising blockchain and Smart Contracts-based project, is now experiencing some serious legal problems, Restis agency implies. The problem is the lawfulness of the initial coin offering already held by the project team – the U.S. authorities suspect this ICO that has managed to attract $232 million violates norms on securities trade.
As the law firm suggests, if Tezos tokens are recognized as securities by the relevant governmental bodies, the whole deal will be terminated in full accordance with the U.S. laws. This means that Tezos will have to return all funds to investors.
Before this news appeared, there has recently been another event connected with Tezos: its founders and the head of Tezos Foundation depository had a big conflict. This could be typical for inexperienced and young entrepreneurs, but notably, one of the founders was a Vice President in Goldman Sachs and also worked in Morgan Stanley, and another founder has B3, Accenture and The Wall Street Journal in the list of previous jobs.
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