A cryptocurrency company looking to use blockchain technology to transform the pot industry has been hit with a lawsuit, according to a Bloomberg Law report. Paragon, the blockchain company founded by former Miss Iowa Jessica Versteeg, did not register its initial coin offering with the regulators, according to a suit filed with a district court in California.
“This isn’t another Potcoin,” she said referring to another weed-focused cryptocurrency. “People will be pleasantly surprised with what we are doing.”
Celebrities such as rapper The Game drew attention to the ICO when they endorsed it over social media. Regulators have been paying closer attention to the ICO market, which is known for its fair share of big dreams and fraud.
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