The U.S. Securities and Exchange Commission, or SEC, publicized legal action against another 2017 Initial Coin Offering, or ICO. Boon.Tech and Rajesh Pavithran, the project’s CEO, face fraud accusations from the commission, as well charges associated with securities registration, an Aug. 13 statement from the SEC detailed. The statement added: “According to the SEC’s order, from
Regulation
Per an Aug. 13 announcement from the United States Department of Justice, the authorities have seized millions of dollars worth of cryptocurrency from over 300 accounts. The announcement does not specify the specific amount, but does identify the operation as the largest to target terrorist funding in cryptocurrency. A wide range of agencies including the
After a series of regulatory changes led the South Korean exchange UpBit to force out its foreign users from the platform, the company is setting up a new division in Thailand. According to an announcement shared with Cointelegraph, UpBit has received approval from Thailand’s Securities and Exchange Commission to operate its digital asset exchange in
Cyprus, a major international business center and tax haven, is warning investors against several suspicious websites offering foreign exchange and digital currency investment. The Cyprus Securities and Exchange Commission issued a warning against seven firms that have apparently been operating illegally. Published by the CySEC on Aug. 6, the warning document says that none of
In February, United States Securities and Exchange Commission Commissioner Hester Peirce was asked to give her opinion on the SEC’s case against Telegram. She declined to comment at the time, as SEC officials do not speak publicly about ongoing enforcement actions. In late July, however, with the Telegram case settled, Commissioner Peirce gave a speech
The Bolivarian Council of Mayors in Venezuela signed the so-called “National Tax Harmonization Agreement” for 305 municipalities in the country, including the Petro (PTR) as a means to collect payments of taxes and sanctions. The cryptocurrency is becoming increasingly widely used as the result of a new campaign. According to the government, the vice president
Liechtenstein’s Financial Market Authority (FMA) has reportedly pulled the plug on an alleged application to bring Binance CEO Changpeng Zhao on as a major shareholder in a distressed domestic bank. As reported by Swiss financial news outlet Inside Paradeplatz on Aug. 10, the FMA rejected the purported application and also declined to approve an extension
India is the hub for call center scams. Call it a lack of strict regulatory measures to stop such activities or the scammers’ resilience to start over every time their business is busted, but call center scams have only grown more prevalent in the country. With cryptocurrencies slowly gaining ground in the subcontinent, groups of
A judge has sentenced Australian citizen Kathryn Nguyen to a maximum time of 2 years and 3 months in prison for her role in stealing more than 100,000 XRP tokens in January 2018. According to an Aug. 11 report in Australian publication Information Age, Nguyen was sentenced over the theft of more than $300,000 in
Capital flight out of Asia is one of major reasons for Bitcoin (BTC) hitting new 2020 highs in August, a major Bitcoin advocate believes. Max Keiser, a famous American broadcaster and known Bitcoin bull, is confident that rising tensions in Asia are one of factors for Bitcoin’s rally up to $12,000. “You can’t take it
The New York State Department of Financial Services has issued a greenlist of 8 virtual currencies for sale and trade, and 10 coins approved for custody by licensed entities. According to a Aug. 3 update on the New York Department of Financial Services website (NYDFS), state regulators have approved 8 cryptocurrencies for listing and trading.
Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. Top Stories This Week The price of Bitcoin is facing its final resistance before $15,000 It’s been a (slightly) calmer week for Bitcoin — with the world’s biggest cryptocurrency managing to recover from the low $11,000’s in
Konstantin Ignatov, a major figure behind OneCoin cryptocurrency exit scam, was dismissed from a civil class action brought by OneCoin victims. According to an Aug. 7 report by Finance Magnates, OneCoin investors have agreed for a settlement with Ignatov. In a court filing on Aug. 6, plaintiffs Donald Berdeaux and Christine Grablis agreed to discontinue
In June 2019, the intergovernmental Financial Action Task Force (FATF) introduced its revised set of standards for virtual asset service providers. The document establishes the anti-money laundering and counter-terrorism (AML/CFT) requirements that regulated VASPs — the term mainly referring to cryptocurrency trading platforms — must eventually implement in their day-to-day operations. The guidelines are framed
The Polish Financial Supervision Authority, or PFSA, issued a warning on the surge of scammers offering fake crypto investment opportunities, which they claim to be the only authorized investment fund in Poland. The scammers call potential victims by asking them to sell or buy cryptocurrencies through the fake fund, but first, they should send the
Russian legislators have passed the nation’s first crypto law after discussing crypto regulation for the last five years. The bill, titled “On Digital Financial Assets,” has had dozens of versions that have varied from one another massively. The version that was discussed last year didn’t have any identification of any digital currencies whatsoever. Another bill