South Carolina State Regulator Shot Charges with Two Blockchain-Projects

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On July 26, the Securities Division of the Office of the Attorney General of South Carolina published several official documents on its official website. In accordance with the submitted documents, the Department withdrew orders for the termination of two Blockchain projects.

Reportedly, the Office of the Attorney General of South Carolina canceled the order associated with the shipping company ShipChain, which was published on May 21 in connection with the violation of the state securities law. We would like to remind you that the state government accused the company of illegal securities trading when ShipChain launched the sale of its own SHIP token.

We remind that after the charges were brought, ShipChain refuted all claims from the regulatory authorities, noting that the company’s actions were based on the law on securities. Also, company representatives said that the sale of the tokens took place before the company opened an office in South Carolina, so they did not know about the sale of coins to residents of this state.

It was reported that ShipChain received $ 30 million in private sale of coins, which took place in January. The company is focused on the development and integration of Blockchain’s logistics and shipping technology with the aim of optimizing the industry, increasing efficiency and reducing waste associated with the loss of goods.

Also, the Chancellery canceled a previously published document on the termination of the Genesis Mining platform, which was also accused of illegal sale of securities.

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