The U.S. SEC imposes a $250,000 penalty against Blockchain of Things for conducting an unregistered ICO. 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…
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A Chinese cryptocurrency fitness app has reportedly been placed under investigation for allegedly illegal fundraising practices and financial fraud. A Chinese cryptocurrency fitness app has reportedly been placed under investigation for allegedly illegal fundraising practices and financial fraud. Nikkei Asian Review reported the news on Dec. 18, citing documents ostensibly accessed by its affiliate publication,…
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Here’s everything you wanted to know about how the Indian government addresses cryptocurrency. The Income Tax Department of India is secretly training its officials to investigate cryptocurrencies. An internal guidebook circulated by the department explains cryptocurrencies, their characteristics, the “dark side of Bitcoin” and the best investigation practices for tax officials. The Indian government doesn’t…
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San Francisco-based cryptocurrency exchange Kraken announced that it has acquired Circle’s over-the-counter desk, Circle Trading. San Francisco-based cryptocurrency exchange Kraken announced that it has acquired Circle’s over-the-counter (OTC) desk. In a Dec. 17 blog post, Kraken said that the company has bought “one of the most recognized OTC desks in crypto.” Circle co-founders Sean Neville…
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Bitcoin is crashing below the $6,600 price mark, dropping $350 over the past few hours. Tuesday Dec. 17 – Bitcoin (BTC) is retracing rapidly from around the $6,950 price mark to below $6,600 in the past few hours. Cryptocurrency market daily overview. Source: Coin360 Bitcoin price is taking a painful nosedive, dropping close to $350 in…
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Security tokens platform TokenSoft hired former U.S. SEC Senior Counsel as its chief legal officer to work on the firm’s regulatory compliance. Security token platform TokenSoft has hired Alex C. Levine, formerly of several key United States financial regulators, to handle compliance for all security offerings. In a Dec. 17 press release, the San Francisco-based…
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Recent research from the European Central Bank showed that it is possible to develop a central bank digital currency payment system that protects user privacy. Recent research by the European Central Bank (ECB) claims that it is possible to develop a central bank digital currency (CBDC) payment system that protects user privacy. Per the report…
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State Street Corporation and Gemini cryptocurrency exchange will launch a pilot on digital asset reporting. A new collaboration between financial services firm State Street Corporation and the Winklevoss’ Gemini cryptocurrency exchange will launch a reporting pilot for cryptocurrency holdings under custody. Per a press release published on Dec. 17, the two entities launched a new…
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Former head of trading at major cryptocurrency exchange Binance has joined rival crypto exchange CoinFlex as chief strategy officer. Leslie Tam, former head of trading at major cryptocurrency exchange Binance, has joined cryptocurrency derivatives exchange CoinFlex as its new chief strategy officer. On Dec. 16, the Block reported that former Binance executive Leslie Tam is…
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Global banking regulator the Basel Committee on Banking Supervision calls for a conservative framework for crypto assets. Global banking regulator Basel Committee on Banking Supervision (BCBS) calls for a conservative prudential treatment framework for crypto assets. The Basel Committee — which includes banking regulators from the United States, Europe and Japan — published its report…
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