On May 21, blockchain startup ShipChain was issued a cease-and-desist order from the South Carolina Attorney General’s Office for violating the state’s securities statutes.
According the official notice, the company continuously offered investment opportunities to residents of South Carolina on its platform through its corresponding tokens, both on its website and at in-person events in South Carolina. ShipChain was allegedly unregistered with the Securities Division of the Office of the Attorney General of the State of South Carolina as a broker-dealer. The order stated:
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.