Airdrops are totally all the rage. Blockchain companies have been resorting to token giveaways and marketing bounty programs as a way of circumventing the Securities and Exchange Commission’s (SEC) ban on initial coin offerings (ICOs) – but this is probably going to change very soon. In an announcement on its website, SEC revealed it has served a lifetime ban and a $30,000 fine to cryptocurrency startup Tomahawk for employing fraudulent marketing strategies to raise funds. As spotted by users on Twitter, the publicly available cease-and-desist order suggests that free tokens are securities. It reads, albeit in thick legalese: Tomahawk’s issuance of…
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