On October 12th, Harald Seiz, chief executive of the accused German company Karatbars, commented on recent allegations that the media claimed that "Karatbars had issued a cryptocurrency that was allegedly supported by gold, but could not confirm it. Does the company say that the gold mine exists? Instead, the gold mine is actually true and is certified by several official documents provided free of charge on the Karatbars website. It can be confirmed that there was a legal dispute between Karatbars and Quebec financial market regulators between 2014 and 2016, but the legal dispute has been resolved. Harald Seiz said, “I am very pleased to work with regulators, governments and NGOs to lay the blueprint for the entire industry. If some legal disputes are to be resolved, then solve it.” Previously, Florida regulators are investigating German company Karatbars and Its tokens do not have any bank licenses in Florida because of their tokens.