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U.S. federal government contractors could be losing up to $ 200 million in delayed or foregone revenue each day the shutdown drags on. In some cases, some contractors have completed work but their invoices can’t be processed as the responsible government agencies, departments or offices are closed. This is now beginning to be felt in the … Continued
The post Back Pay? No Way: U.S. Federal Contractors Losing $ 200 Million in Daily Revenue Due to Government Shutdown appeared first on CCN
Jerome Powell said today that the Federal Reserve has no choice but to face the mounting U.S. debt balance. That negative balance is now $ 21.9 trillion. The annual U.S. deficit has reached sustained highs of over $ 1 trillion. Speaking at The Economic Club of Washington, D.C today Powell said: “I’m very worried about it.” Referring
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U.S. employers added more workers than expected in December according to the Nonfarm Payrolls report, capping off a strong year of job creation for the world’s largest economy. December Hiring: By the Numbers Nonfarm payrolls increased by 312,000 in December, the highest since February, the Labor Department reported Friday. The unemployment rate rose to 3.9%
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Unikrn, a cryptocurrency-driven esports betting platform backed by Mark Cuban and Ashton Kutcher, has launched UMode, a player-vs-house betting platform that enables gamers to earn fiat or crypto by betting on themselves in normal matchmaking gameplay. Mega huge release for Unikrn, check https://t.co/7D701PnhMG for a peak at some of the changes in your area of the world! cc […]
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According to a Reuters report, Allianz Global Investors (GI) CEO Andreas Utermann encouraged regulators to outlaw crypto. At a conference held in London, directed toward Andrew Bailey, the head of Britain’s Financial Conduct Authority. Utterman said: “You should outlaw it [crypto]. I am personally surprised that regulators haven’t stepped in harder.” Regulators Aren’t Outlawing Crypto
The post Europe’s Top Asset Manager Calls For Crypto Ban While U.S. Institutions Build appeared first on CCN
A law professor has reached an unflattering conclusion regarding the regulatory climate of the crypto space in the United States — it’s confusing! According to Carol Goforth, who teaches at the University of Arkansas School of Law, “overlapping regulations produced by a multitude of distinct agencies with different missions and priorities” has resulted in a
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The U.S. Securities and Exchange Commission (SEC) has postponed its decision to approve or disapprove the VanEck/SolidX bitcoin exchange-traded fund (ETF). Per an official document published by the agency, the new deadline to review the VanEck proposal has been shifted to February 27, 2019, which the regulator claims would afford it the time needed to review the potential rule change further.
The SEC stipulates that the commission must either approve or disapprove a proposal no later than “180 days after the date of publication of notice of the filing of the proposed rule change.” However, there is a special clause that permits the agency to extend this period by 60 days.
Two United States congressmen have introduced two pieces of legislation to help prevent alleged cryptocurrency price manipulation while aiming to position the U.S. at the forefront of innovation within the digital asset industry.
Also read: Chilean Court Rules in Favor of Closing Bank Accounts of Crypto Exchange Orionx
The Virtual Currency Consumer Protection Act of 2018 and the U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2018 task U.S. financial regulators with researching means to protect retail investors from price manipulation, while staking the global economic powerhouse’s share in the evolving financial technology.
A new development has arisen in the U.S. Securities and Exchange Commission’s (SEC) efforts to regulate ICOs: a District Judge has turned back a request for an injunction.
According to a recent legal briefing, San Diego District Judge Gonzalo Curiel has been presiding over a case between the SEC and the startup company Blockvest. On November 27, 2018, although Judge Curiel had previously “granted the SEC’s ex parte request for a temporary restraining order and froze the assets involved in the ICO,” he has now stated that the SEC couldn’t demonstrate that buyers of Blockvest’s ICO expected to receive a profit.
Following an outbreak of E. coli in the United States that was linked to romaine lettuce, the Food and Drug Administration (FDA) is considering better track-and-trace methods and this includes the use of blockchain technology. Speaking to business news channel CNBC, FDA commissioner Dr. Scott Gottlieb announced that the federal agency had hired the vice
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This is the ICO regulators warned you about. Maksim Zaslavskiy, who is the mastermind behind two ICOs for tokenized real estate and diamonds, has pled guilty to fraud in a federal district court in Brooklyn, N.Y. As the first case of ICO fraud in the U.S., this one sets a precedent, with a judge in September
The post In Landmark U.S. Case, Mastermind Behind Two Fraudulent ICOs Pleads Guilty appeared first on CCN
Aiming to create an SEC and FINRA-compliant U.S. exchange, blockchain-based crowdfunding firm seriesOne and crypto exchange Bithumb have formed a joint venture. According to an announcement made on November 1, 2018, officials behind the venture look to trade security tokens within a “compliant marketplace” and within the context of “other applicable regulatory approvals.”
For South Korea-based Bithumb, the venture provides the exchange with new expertise around U.S. regulation. seriesOne, a company created by finance industry veterans in the tech, investment banking, venture capital and compliance sectors, operates a U.S. platform for initial security token offerings compliant with SEC exemptions like Reg CF and Regulation D.
Following a highly volatile day of trading, the S&P 500 finished down 0.85% on Monday, bringing the total monthly losses to 9.1%. This puts the index on track for its worst month since February 2009, at the height of the Financial Crisis. Today’s losses came after a midday statement from the White House, indicating that the […]
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The U.S. Marshals agency has announced plans to auction $ 4.3 million worth of bitcoin (BTC) in November 2018. The sealed bid auction is for nearly 660 bitcoins which were seized in a series of federal criminal, administrative and civil cases over the years.
The haul comes from cases against convicts like Thomas Mario Costanzo and Theresa Tetley, both sentenced to jail in 2018 on money-laundering charges. At the time, the agency seized 80 BTC from Costanzo and 40 BTC from Tetley. The U.S. Marshals, however, didn’t reveal how much of the forfeited assets from the two would be sold next month.
A deal between a traditional ATM manufacturer and a cryptocurrency vending machine firm will make it possible to buy bitcoin at tens of thousands of locations in the United States using a debit card. Bitcoin ATM firm LibertyX and regular ATM manufacturer Genmega have forged a partnership which will make it possible to purchase bitcoin
The post Partnership Could See up to 100,000 Regular ATMs in U.S. Turned into Bitcoin-Vending Machines appeared first on CCN
A U.S. Federal Court recently indicted Gelfman Blueprint Inc. (GBI) and its CEO Nicholas Gelfman to the tune of $ 2.5 million for running a Bitcoin Ponzi scheme. The matter is the first ever anti-fraud proceedings concerning Bitcoin taken up by the Commodity Futures Trading Commission (CFTC).
According to a CFTC press release published on Thursday (October 18, 2018), the defendants – GBI and Gelfman, will pay about $ 2.5 million in restitution and civil monetary penalties to the affected victims. Out of that sum, $ 554,734.48 and $ 492,064.53 is for restitution, while $ 1,854,000 and $ 177,501 is for civil monetary penalties.
The price of the world’s leading stablecoin, Tether (USDT), which is designed to be pegged 1:1 to a cash reserve of U.S. dollars, has dropped to below $ 0.95. This unprecedented market action has likely shaken investors that currently rely on the stablecoin as a relative digital asset safe haven, driving the conversion back to Bitcoin (BTC). […]
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The post Halfway Milestone: Crypto Trading App Robinhood Launches in U.S. State #25, Ohio appeared first on CCN
Silk Road founder Ross Ulbricht is currently serving a double life sentence plus 40 years for his role in operating the infamous Silk Road website. Ulbricht is not eligible for parole. He is currently imprisoned at the high-security United States Penitentiary, Florence High, in Colorado. In August, Maine State Senator and current U.S. Senate Candidate
The post U.S. Senate Candidate Signs Clemency Petition For Ross Ulbricht appeared first on CCN
The United States federal budget deficit rose to $ 782 billion for the 2018 fiscal year, according to the Congressional Budget Office (CBO), Congress’ nonpartisan group of budget experts. This total amounts to roughly 3.9% of gross domestic product (GDP) and marks the third straight year that the deficit increased as a share of the economy. The outcome could have actually been […]
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