MainNet to Finally Launch by Tezos (XTZ Token) Crypto Network on September 17
MainNet to Finally Be Launched by Tezos To Support New Token in Just a Few Days
The official Twitter page for Tezos and their cryptocurrency project revealed that the MainNet for their network is only days away from being launched to the public. More specifically, consumers can expect for the main version to be available by Monday, September 17th, 2018. This launch will help in supporting their new digital asset.
The foundation for Tezos reached $232 million in funding back in July last year, in an effort to build up the network and create a new type of crypto entirely. This was one of the biggest initial coin offerings (ICOs) that the industry had seen by that point, though it took over a year to finally launch the first version of the Tezos network.
Going forward, the Tezos Foundation wants to make this network into a complete network, according to a message that Ryan Jespersen, Tezos president, wrote.
“Reuters attempted to speak with the foundation to confirm other details, but it does not appear as though there are additional details.”
Even though it is a victory to finally launch the MainNet, Tezos is still in hot water with the United States, considering the ongoing efforts to establish regulations for the cryptocurrency industry. There has been plenty of conflict within Tezos itself, including the replacement of former president Johann Gevers with Jespersen.
In the last year, there have been multiple class-action lawsuits against the company within the United States, claiming that the fundraiser that they held was in violation of current securities laws. By doing so, the lawsuit also alleges that they were responsible for defrauding investors. Still, in February, the SEC did not allow the lawyer of the plaintiffs, David Silver, to gain access to the public information on the case. Based on the information provided by the SEC, releasing this type of information could jeopardize the investigation and the ability to enforce the current regulations.
The fundraiser that this case referred to was setup to look like a donation to the brand, though many contributors were under the impression that it was an investment. However, the cryptocurrency may be subjected to the laws of the SEC, if they are confirmed as a security token.
In part of the investigation by Reuters in October, Arthur Breitman was exposed for his lack of validating any business activity during the time he was with Tezos. Breitman is a citizen of France who works with the US’s Financial Industry Regulatory Authority (FINRA). FINRA ended up suspending him from making any kinds of broker-dealer transactions for the following 2 years, which is still ongoing.