The Praetorian Group's PAX Coin is the First Cryptocurrency ICO to File with the U.S. SEC
The Praetorian Group has officially filed for registration of the PAX coin with the U.S. Securities & Exchange Commission (SEC). This would make the PAX token the first cryptocurrency that attempts to gain approval as a security by the SEC.
"We could not be more excited to have submitted our filing and work with the SEC through the comment period to have our ICO registered and available to the general public," said Gerard Marrone, Co-Founder and CEO of The Praetorian Group. He continued, "Both of the 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 is billed as the first ever Cryptocurrency Real Estate Investment Vehicle or (C.R.E.I.V.)
The registration has been filed but as of now it is pending SEC approval as shown in https://www.sec.gov/
"Our plan is to first build a solid real estate portfolio to support our cryptocurrency Ecosystem and then continually and consistently reward our community with dividends derived initially from the net profits from our real estate portfolio and subsequent net profits from operating our Debit Platform" said co-founder and CSO Louis Adimando.
Ultimately the "PAX Token," the Praetorian Group's cryptocurrency, will become the bar by which all other cryptocurrencies will be measured in the space upon SEC approval. Adimando went on to say,
"There is plenty of room in cryptocurrency for various cryptos and companies but the key is to have some foundation to build your company upon. Everyone knows Bitcoin but a lot of people lose confidence in the token when they come to know that it is a pseudo-fiat currency. When people see there is nothing behind the coin other than the blockchain they begin to see too much of a similarity to government fiats and walk away. The Praetorian Group's PAX token is unlike any other crypto coin because we are building its value on the greatest wealth engine in history, Real Property."
The Praetorian Group plans to work through the comment period with the SEC to ensure the company is registered with the regulatory agency and can conduct an ICO in the Spring of 2018. Raising the bar on the industry is an exciting proposition and brings a new level of credibility, maturity and stability to the cryptocurrency and ICO space. To learn more about this exciting company and subsequent S-1 filing with the SEC, you can visit www.praetoriangroup.io.
About The Praetorian Group
The Praetorian Group's mission is to create a cryptocurrency that is linked with real estate and will add a net of stability and security to the otherwise volatile cryptocurrency market. The company will accomplish this by creating a unique cryptocurrency, the PAX token, which is linked to a real world asset, in this case real estate. This will provide a level of protection from the unpredictability of the cryptocurrency market. The Praetorian Group not only seeks to bring wealth to its investors but also to better blighted communities where it holds properties. This will be done by developing outreach
The Praetorian Group