The Currency Analytics
By Victor Ugochukwu
Swiss’ equivalent of the SEC, FINMA has concluded its investigation of the Envion AG ICO it launched last year July 2018 ruling it as illegal in its recently released report.
The embattled Envion launched out in 2017 offering its investors decentralized, clean energy for mobile mining units by issuing EVN tokens tradable on digital assets exchange to…
Envion’s co-founder Michael Luckow made some efforts at saving his firm but it has since been taken over by the Swiss Cantonal Court of Zug Switzerland which has dissolved it as…
FINMA, in its report cited reasons for hacking down on Envion AG, stating
“the conditions for the EVN tokens issued in a bond-like form were not equal for all investors, the prospectuses did not meet the minimum statutory requirements and there was no…
It went further to state no further actions were necessary as the Cantonal Court of Zug had already taken it over on grounds of shortcomings and irregularities.
EVN token as at press time trades just around $0.06 as seen on coinmarketcap.com and further investigation as to how the Envion Community is taking the news found out…
Could this lend more credence to the claims that the era of ICOs are over? The future holds more.