Category: N-Economy
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North Dakota Issues Orders Against Bitconnect, Magma, Pension Rewards
The securities department of the US state of North Dakota has issued orders against three companies promoting initial coin offerings in the state. They are Bitconnect, Magma Foundation, and Pension Rewards. The investigations are part of Operation Cryptosweep which involves over 40 US and Canadian securities regulators. Also read: 160 Crypto Exchanges Seek to Enter Japanese…
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Proposed Crypto Mining Moratorium Rejected by County in Montana
Montana’s second most populous county, Missoula County, has rejected the proposal for a moratorium on cryptocurrency operations. The proposal was first presented at a public hearing in June but was postponed for three months. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals Proposed Crypto Moratorium Rejected Missoula County’s board of commissioners held…
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New POS Terminal by Pundix Allows Nigerians to Make Purchases in Bitcoin
Indonesian cryptocurrency and payments company Pundix has introduced a point of sale terminal at a shop in Nigeria, allowing people in the West African country to make purchases using cryptocurrency, including bitcoin. The move is seen as key to scaling up cryptocurrency adoption and development in Africa’s biggest bitcoin market. Also read: Payments Platform Wirex Launches…
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SEC, CFTC, FBI Take Action Against Bitcoin-Funded Securities Dealer 1Broker
Three U.S. agencies have taken action against international bitcoin-funded securities dealer 1pool Ltd., aka 1Broker. The Securities and Exchange Commission (SEC) says 1Broker violated federal securities laws. The Commodity Futures Trading Commission (CFTC) says it violated the Commodity Exchange Act. Meanwhile, the company says it is working on letting customers withdraw their funds. Also read: 160…
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New Stablecoins: From Cryptopound and Metal-Backed Swiss Coin to Mongolian ‘Candy’
Following some notable premiers in the genre recently, the next batch of stablecoins is on the way. A British startup is partnering with a bank to launch a GBP-pegged crypto, a Swiss commodities trader wants to mint a coin backed by metals, and a Mongolian telecom has been licensed to issue the country’s first digital…
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Payments Platform Wirex Launches Iban for Spanish and French Users, Doubles Account Limits
Wirex on Friday announced it had introduced International Bank Account Numbers (Iban) on its Euro accounts for customers in Spain and France. The bitcoin and cryptocurrency wallet firm also doubled account thresholds for users within the 31-member European Economic Area (EEA) to between $18,560 and $20,000, meaning customers can credit their accounts by that much.…
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European Regulator Renews Restrictions on Crypto-Based Derivatives
Europe’s securities watchdog, ESMA, has decided to extend the restrictions applied to a number of financial derivatives, including contracts-for-differences (CFDs) based on cryptocurrencies. The limits that were introduced in August of this year will now remain in place until the end of January 2019. Also read: French Regulator Blacklists More Fraudulent Crypto Businesses ESMA…
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US Federal Judge Rules My Big Coin a Commodity, CFTC Can Pursue Charges
A U.S. federal judge has ruled that My Big Coin is a virtual currency meeting the definition of a commodity, which falls within the jurisdiction of the Commodity Futures Trading Commission (CFTC). This allows the regulator to pursue fraud charges involving the cryptocurrency. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals Judge…
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India’s Zebpay Shuts Down Exchange Activities
One of the largest cryptocurrency exchanges in India, Zebpay, is shutting down its exchange activities due to the crypto banking ban imposed by the country’s central bank. “At this point, we are unable to find a reasonable way to conduct the cryptocurrency exchange business,” Zebpay wrote. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market,…
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RBI Denies Creating Crypto, Blockchain and AI Research Unit
India’s central bank has reportedly denied setting up a unit to research cryptocurrency, blockchain and artificial intelligence as the media reported last month. This unit was supposed to research, draft rules, and supervise new emerging technologies. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals RBI Denies Setting Up Crypto Research Unit There…