3.  Respondent (Shipchain / Owned by John Monarch) consents to the entry of this Order Instituting Cease-and-Desist Proceedings Pursuant To Section 8A of the Securities Act of 1933, Making Findings, And Imposing Penalties And A Cease-And-Desist Order (“Order”), as set forth below:
Undertakings
1. Respondent has undertaken to:
a. Transfer all SHIP tokens in its possession or control, including within the control of the company’s directors, to the Fund Administrator (which is referenced in paragraph IV.E. below) within 10 days of receiving notice of the Fund Administrator’s appointment, to enable the Fund Administrator to permanently disable such SHIP tokens.
b. Publish notice of the Order on ShipChain’s website and social media channels, in a form not unacceptable to Commission staff, within 10 days of the date of this Order.
c. Take reasonable steps to convey this Order to digital asset trading platforms that, to its knowledge, offer trading of SHIP tokens and request the removal of SHIP tokens from the platforms, and publish notice of such requests on ShipChain’s website and social media channels, in a form not unacceptable to Commission staff, within 10 days of the date of this Order.
