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Following months of investigation into the 1MDB scandal in Malaysia, the country’s attorney general Tommy Thomas has filed criminal charges against Goldman Sachs International and two of its Asian subsidiaries alongside former Goldman Partner Tim Leissner, alleged scam mastermind Jho Low and former 1MDB counsel Jasmine Loo. The Wall Street Journal reports that Malaysian authorities earlier today
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Increasingly frequent action taken by the SEC against initial coin offerings is expected to lead to more cryptocurrency projects being forced to refund investors. Among those expected to be affected is the first U.S.-based cryptocurrency investment firm, Pantera Capital, with the company bracing to receive refunds on a quarter of its ICO investments.
Also Read: BTI Claims Only Two of Top 25 Crypto Exchanges Accurately Report Volume
Trading of Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA) — all ERC-20 tokens that run on the Ethereum network — today went live on Coinbase Pro, and most received a bump from their listing on the crypto exchange. CVC, LOOM, MANA, and DNT Listed on Coinbase In a post earlier today, Coinbase
The post Coinbase Bounce: 3 of 4 Ethereum Tokens Rally against Bitcoin on Day of Listing appeared first on CCN
Security token offerings (STO) – essentially initial coin offerings which are backed by tangibles such as a company’s revenues, profits or assets – are now officially banned in China. This emerged after the People’s Bank of China (PBoC) deputy governor, Pan Gongsheng, warned those issuing STOs that they were violating the law. “The STO business
The post ‘Illegal Financial Activity’: PBoC Deputy Governor Warns Against STOs in China appeared first on CCN
Last week, the U.S. federal court ruled a case between the U.S. Securities and Exchange Commission (SEC) and a crypto initial coin offering (ICO) project called Blockvest in favor of the ICO project. Marco Santori, the president and chief legal officer at Blockchain, said: “The SEC brought an enforcement action against a company called Blockvest,
The post Monumental: Federal Court Rules Case in Favor of Crypto ICO Against SEC appeared first on CCN
A class-action lawsuit for over $ 5 million has been filed in northern California against Chinese mining giant Bitmain. The company is being accused of utilizing customers’ newly purchased machines to mine cryptocurrency at full power for its own benefit while customers were configuring their equipment.
Official court documents read:
Thailand’s Securities and Exchange Commission (SEC) has warned the public against 14 websites whose operators have been soliciting customers to buy and sell cryptocurrencies and related products. The regulator says these operators are not authorized to conduct crypto business in the country. Currently, only seven companies are temporarily approved for crypto operations.
Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations
The Thai SEC issued a warning on Friday against 14 websites whose operators have not been approved to conduct cryptocurrency business in Thailand.
Indian police in the city of Pune have charged Amit Bharadwaj along with three other individuals – Vivek Bharadwaj, Pankaj Adlakha and Hemant Bhope, involved in a multi-level marketing (MLM) crypto scam. It is alleged that Amit who is the central character of the trial collected about Rs 10 crore (about $ 1.42 million) from unsuspecting
The post Indian Police File Charges Against Masterminds of $ 60 Million Bitcoin Scam appeared first on CCN
Arthur Hayes, the CEO of leveraged crypto exchange BitMEX, has come out to deny allegations that the exchange is trading against orders made by its customers. In the original blog post, an anonymous account named ‘Hasu’ laid out the argument against the Hong Kong-based exchange with three major accusations: “BitMEX trades against their customers” “BitMEX weaponizes […]
SludgeFeed
Anti-government activists in Thailand are using crypto tech to help prevent authorities from censoring “Rap Against Dictatorship,” a controversial music video that has gone viral in the country. The video, which excoriates Thai government and military authorities on a number of social issues, has achieved runaway success in Thailand, amassing more than 28 million views
The post Activists Use Crypto to Protect ‘Rap Against Dictatorship’ from Government Censorship appeared first on CCN
The Division of Securities of the U.S. state of Colorado has issued four new cease-and-desist orders to stop as many companies from promoting their tokens to residents of the state. So far, action has been taken against a total of 12 initial coin offerings by the state’s securities commissioner.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Colorado Securities Commissioner Gerald Rome on Thursday signed four orders “directing the cessation of unregistered securities in the state of Colorado,” the state’s Division of Securities announced. So far, the division has taken action against a total of 12 initial coin offerings (ICOs), the announcement details.
Bitmain has released (and already sold out of) its Antminer S15 model traditional ASIC Bitcoin miner. At a price of $ 1,475 per unit and a per-customer limit of two, it is comparably one of the better bargains as mining hardware goes. It clocks up to 23 terahash per second, meaning that 3-4 units would be
The post Bitmain Releases Antminer S15: How it Stacks Up Against Competitors appeared first on CCN
Leading cryptocurrency investor law firm Silver Miller Law has filed suit against cell phone giants AT&T and T-Mobile on behalf of several digital asset investors who were victims of the identity-theft tactic known as “SIM swapping.” The suit alleges that both companies possessed flaws in their security systems and failed to properly train their employees to work against hackers seeking to gain access to users’ smartphones.
The Texas State Securities Board has issued an emergency cease and desist order to an Australia-based cryptocurrency mining company and its affiliates. According to the order, the company represents that investments in its mining contracts are “guaranteed to 200% profit.”
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The Texas State Securities Board on Tuesday issued an emergency cease and desist order to Sydney-based Aws Mining Pty. Ltd. and nine other respondents affiliated with the company. The entities named are Automated Web Services Mining (Aws Mining), Mycoindeal, Aws Elite, and West Texas Oilfield Cloud Miners Club.
The U.S. Securities and Exchange Commission (SEC) has released a report detailing actions taken against fraudulent ICOs and financial ventures, and, indeed, the year has been wrought with cases. The report details actions for 2018’s fiscal year, which ended on September 30, and offers insight into the ICO-related fraud that has seemingly come to light over the past several months.
Misconduct actions against ICOs and similar cryptocurrency ventures are led by the organization’s Cyber Unit, which became fully operational this year. The SEC explains in the report, “We believe our approach to enforcement in this space has been thoughtful and consistent. Importantly, it has provided a template for authorities in other countries, where fraud and misconduct targeting U.S. investors often have been based.”
A South Korean district court has ruled that Nonghyup Bank, a major bank in the country, cannot block transactions to the account of cryptocurrency exchange Coinis based solely on the government’s anti-money laundering guidelines. This is reportedly the first time a Korean crypto exchange has taken legal action against a bank for blocking its transactions.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
The 50th Civil Affairs Division of the Seoul Central District Court has ruled in favor of cryptocurrency exchange Coinis against Nonghyup Bank, local media reported.
Still trading in a narrow range against the dollar, bitcoin is looking strong against ether and could soon pick up the altcoin bid.
CoinDesk
A small town in the capital of the United States called Ephrata is fighting back against the world of cryptocurrencies and has stopped all activity related to it.
The council in the town recently voted to halt all-digital currency mining operation in the town for the next year. The choice isn’t as surprising as you think when you look at other communities in the capital of Washington have been making similar ‘progress’.
The small Washington community of Ephrata is just the latest in a growing number of communities inside of Grant County moving to halt crypto activity.
When the city council of Ephrata, Washington, recently voted to halt new cryptocurrency-related mining operations in the town for the next year. The choice they made is becoming increasingly popular among Washington’s smaller towns and communities.
The Spokesman-Review reported on an Ephrata city council vote to step back in order to make sure the activity of cryptocurrency miners and their affiliated operations are a positive fit for the city’s residents.
The law offices of Pomerantz LLP in New York have filed a series of civil suits against MGT Capital Investment and its executive officers on behalf of several of the trading firm’s past or present customers. The suits allege that between October 9, 2015 and September 7, 2018, the company violated laws set forth by the Securities Exchange Act of 1934 that resulted in damages to several of its clients.
