Business News

SEC Official Says ‘Dozens’ of Crypto Investigations Underway

12 hours ago admin2 0
A top official at the U.S. Securities and Exchange Commission (SEC) has confirmed the existence of numerous investigations into initial coin offering (ICO) campaigns. On Thursday, Stephanie Avakian, co-director of the SEC’s Enforcement Division, said the agency had “dozens” of investigations that relate to cryptocurrency and ICOs, according to Bloomberg BNA, during an appearance at Read More

Singapore Central Bank Eyes Blockchain Potential in Cross-Border Remittance

1 day ago admin2 0
The Monetary Authority of Singapore (MAS), the city-state’s de facto central bank, is looking to adopt blockchain technology in conducting cross-border remittances. During a speech on Thursday at a financial industry event, MAS managing director Ravi Menon doubled down on his belief that one of the “strongest” use cases for crypto tokens is to facilitate cross-border settlements. Read More

Abra Adds 18 New Cryptos for Mobile Investing

2 days ago admin2 0
Crypto wallet startup Abra is expanding the number of cryptocurrencies it supports to 20 from just two – bitcoin and ethereum – currently. Announced today, bitcoin cash, dash, dogecoin, ethereum classic, golem, litecoin, omisego, qtum, XRP, vertcoin and zcash will be immediately available on the app. Over the next few days, it will also roll Read More

South Korea Raids 3 Crypto Exchanges in Embezzlement Probe

2 days ago admin2 0
South Korean prosecutors raided three cryptocurrency exchanges this week over suspicions that staff embezzled funds from customers’ accounts, according to local news reports. Exchange staff, including executives, are suspected of siphoning off money from customer accounts and using it to purchase cryptocurrencies at other exchanges, reported. The Seoul Southern District Prosecutors’ Office reportedly confiscated hard Read More

Brazilian Officials Caught Using Bitcoin in $22 Million Scam

3 days ago admin2 0
Police officials in Rio de Janerio have uncovered a money laundering scheme in which state officials siphoned off money intended for prison supplies, using bitcoin to exchange some of the proceeds. The scam involved misstating the budget spent on food for state-run prisons, ultimately diverting funds worth $22.4 million – though only a small portion of the Read More

Square Seeks BitLicense to Bring Bitcoin Buying to New York

4 days ago admin2 0
Digital payments company Square is in the process of applying for a BitLicense in a bid to expand its Cash App’s bitcoin buying option to New York. A spokesperson for Square confirmed the process following a tweet on Tuesday that suggested the company was “working on” opening up bitcoin buys and sells to users in that Read More

Dutch Finance Minister Calls for ICO Regulations

1 week ago admin2 0
Dutch finance minister Wopke Hoekstra issued a letter to parliament on Thursday advocating for an international approach to cryptocurrency regulation. His initial focus is new consumer protections, public documents suggest. To start, Hoekstra wants to talk with credit card companies about potentially instituting stronger protections for people who buy cryptocurrency with credit cards, for example. Under some Read More

Tennessee Is Closer to Barring Retirement Funds from Crypto Investments

1 week ago admin2 0
A measure to bar public retirement funds from investing in cryptocurrencies is moving ahead in the Tennessee Senate. As previously reported, twin bills filed in January would block the trustees of public, post-retirement benefit funds from making such investments. On March 6, the Tennessee Senate Ways and Means Committee cleared the measure by a 10-0 Read More

KODAKCoin Backers Warn SEC Could Restrict Token Trading

1 week ago admin2 0
A new “light paper” released for the forthcoming KODAKCoin sale states that the token could see “significant” trading restrictions should the U.S. Securities and Exchange Commission (SEC) deem it a security. KODAKCoin – which is being developed by a firm called WENN Digital using the brand of the onetime photography giant, and is set to Read More

Compliant ICOs? Bitcoin OGs Launch Regulated Token Sale Service

1 week ago admin2 0
Mason Borda has been into initial coin offerings (ICOs) since the beginning. Yet, the former BitGo software engineer, who helped set up Augur’s wallet for its token sale in 2015, was hesitant to enter the market himself until last summer. That’s when Borda, and security veteran James Poole, started building TokenSoft, a platform for helping Read More