Examples of using Munchee in English and their translations into Vietnamese
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Colloquial
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Ecclesiastic
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Computer
The company in question, Munchee Inc.
The Munchee order makes clear that that is not the case.
The SEC also simply told Munchee Inc.
Munchee is an iPhone developer that released the Munchee app in early 2017.
The next day, the SEC contacted the company, and Munchee voluntarily stopped selling the tokens.
Munchee was attempting to raise money to create a cryptocurrency that would work within the app to order food.
The SEC's recentcease-and-desist order resulted from an offer of settlement by Munchee to avoid penalties.
On October 31, 2017, Munchee began selling MUN tokens in exchange for ether or bitcoin.
So, on the basis of the Howey Test threshold,the SEC concluded that Munchee issued securities that were disguised as a utility.
Specifically, Munchee would develop the enhanced app, increasing demand for MUN tokens and, accordingly, the tokens' value.
The first strike came on December 11,2017 when the SEC halted Munchee, a California company with a food review app.
Indeed, Munchee published a blog post which stated that“As more users get on the platform, the more valuable your MUN tokens become.”.
The US regulator has previously charged issuers in settled cases alleging violations of similar laws,including Munchee Inc.
Stated that the purchasers of Munchee tokens can“flip” the tokens for profit once the Munchee ecosystem was functional;
It also promoted MUN tokens toinvestors in countries other than the United States, even though the Munchee app is only available in the U.S.
Munchee planned to spend 10% of the amounts raised through its ICO on“legals to make sure Munchee is compliant in all countries.”.
First, the value of the pre-functional MUN tokens bought during theICO would naturally increase once the Munchee“ecosystem” on which they could be used was implemented.
The SEC also halted the Munchee ICO, although it did not take further action against the startup's operators other than requiring them to return the funds they had already raised.
Second, in promoting MUN tokens in its white paper, through social-media accounts,and elsewhere online, Munchee emphasized the likelihood that the tokens would increase in value.
Again, Munchee provides an ideal illustration of this point, with the SEC issuing its cease-and-desist order one day after the token sale had commenced.
Blockchain startups and developers should be familiar with what Munchee did wrong, and what it could have done differently, to avoid similar problems in their own ICOs.
In addition, Munchee had promised to support secondary markets on which MUN tokens could be sold, including by buying or selling MUN tokens to ensure a“liquid secondary market.”.
Engaged in sale of pre-functional utility tokens that carry thehigh risk of being treated as securities(Munchee acknowledged that the ecosystem would not be functional until 2018/2019, yet sold the tokens in 2017);
The Munchee case- and others such as BitConnect- have raised several important questions surrounding the nature of tokens being issued by new blockchain-based companies.
Indeed, this is precisely why companies such as Munchee aim to avoid having their tokens classified as securities, as this would require the appropriate licensing, which can prove to be expensive and complicated to obtain.
In a white paper published in October 2017, Munchee proposed enhancing its app by turning it into a Munchee“ecosystem,” in which restaurant customers could buy meals, and restaurants could buy advertising, using virtual tokens called MUN tokens.