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The United States Securities and Exchange Commission (SEC) has reached a settlement with New York-based startup Blockchain of Things Inc. (BCOT) for conducting an unregistered initial coin offering (ICO). On Dec. 18, the SEC announced in a press release that the charges were settled in the form of an order that requires BCOT to cease and desist from committing any...
After BottlePay’s shutdown announcement last week, two more European cryptocurrency firms have shut down because of the upcoming Anti-Money Laundering (AML) rules in the European Union. Online crypto gaming platform ChopCoin and mining pool Simplecoin both announced that they are shutting down in under a month in a notice on their website. Both firms cite the EU’s upcoming Anti-Money Laundering...
The United States Securities and Exchange Commission (SEC) has charged Eran Eyal, the founder Shopin, with orchestrating a fraudulent initial coin offering (ICO). In a press release on Dec. 11, the SEC alleged that the businessman and his company defrauded hundreds of investors in an ICO that raised more than $42 million from August 2017 to April 2018. According to...
Thai immigration officials have arrested 24 Chinese nationals who were running an alleged cryptocurrency scam call center in the Rama III neighborhood of Bangkok. According to an official announcement on Dec. 2, the Immigration Bureau of the Royal Thai Police arrested 24 individuals, seized 61 laptops, 424 mobile phones and several routers. The Immigration Bureau further states that the head...
BRUSSELS (Reuters) - Private digital currencies like Facebook’s Libra should not be allowed in the European Union until the risks they could pose are clearly addressed, EU finance ministers agreed on Thursday. The move confirms the bloc’s tough line on Libra, which has attracted criticism from global regulators over its possible impact on the financial system since it was announced...
Eight former core developers from financial services company Morgan Stanley have launched Phemex, a new cryptocurrency derivatives trading platform, in Singapore. In a press release shared with Cointelegraph on Dec. 4, the former Morgan Stanley developers claim the platform is ten times faster than traditional crypto trading platforms, while offering 100x leverage to both retail and institutional investors in Bitcoin...
A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might be facing yet another regulatory hurdle. Meanwhile, lawmakers sponsoring the bill say stablecoins should be classified as securities to protect U.S. consumers. If passed,...
JPMorgan Chase — whose CEO, Jamie Dimon, once notably expressed skepticism over cryptocurrency — was actually one of the first financial institutions to “learn to love the blockchain.” In 2015, the bank created a division dedicated to exploring emerging technology such as blockchain. We were two of the first members of the JPMorgan blockchain team. We built some of its...
Dan Schulman, CEO of payment processor PayPal, revealed during an interview that he does indeed own Bitcoin (BTC). On Nov. 20, Fortune reported that PayPal CEO Dan Schulman stopped by its offices where he discussed a variety of topics, including the reason for PayPal’s withdrawal from the Libra Association and whether he is the proud owner of any cryptocurrencies. PayPal...