The Praetorian Group registered its ICO with the United States Securities and Exchange Commission (SEC).
This marks a historic moment both in the cryptocurrency sector and in the securities sector, as the company’s deposit is the first of its kind. For over a year the SEC has commented on the phenomenon of the initial supply of coins (“ICO”) but avoided creating regulations directly in the ICO space. Trying to become the “Gold Standard” in the cryptocurrency space, The Praetorian Group has decided to raise the bar in the ICO sector and submit a registration statement to the SEC.
“We could not be more excited about filing our filing and working with the SEC to get our ICO registered and available to the general public,” said Gerard Marrone, co-founder and CEO of The Praetorian Group. He continued: “Both founders of this company are lawyers and know the importance of doing things in full transparency and in compliance with the law”.
The Praetorian Group has been ranked as the first ever for the Cryptocurrency Real Estate Investment Vehicle or (CREIV) whose currency will have a direct connection with the property acquired by the company. This means that each PAX currency will be linked to a property in New York, one of the most profitable real estate markets in the world. In phase 1 of the project, the Praetorian group will look for promising real estate in New York and other parts of the United States.
Once the Real Estate portfolio is satisfactory for the company, the company itself will develop the necessary software to support its mission to bring the PAX token to life and to the masses. A software application that will support the first 50-100 cryptocurrencies evaluated by market capitalization and will make such cryptocurrencies expendable through their PAX universal debit card.