UK Regulators Probe 18 Crypto Firms for Fraud and Illegal Operations

Over a dozen firms in the cryptocurrency sector are under investigation by UK’s financial regulator, reports the Financial Times. According to the business publication, the Financial Conduct Authority (FCA) disclosed on Sunday that 18 companies were being investigated over their involvement in selling cryptocurrencies. Additionally, alerts and warnings had been sent to another dozen or … Continued The post UK Regulators Probe 18 Crypto Firms for Fraud and Illegal Operations appeared first on CCN

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US To Provide Regulatory Clarity On Crypto: Token Recovery In Sight?

According to a report released by Kate Rooney, a markets reporter at CNBC, two congressmen — Warren Davidson and Darren Soto — are preparing a bipartisan bill to exclude crypto from the country’s securities law. The bill, entitled “Token Taxonomy Act,” is set to be introduced to the House in the months to come in The post US To Provide Regulatory Clarity On Crypto: Token Recovery In Sight? appeared first on CCN

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TKO: Floyd Mayweather, DJ Khaled Knocked out by SEC Probe into ICO Promos

Pro boxing champ Floyd Mayweather Jr. and music producer DJ Khaled agreed to pay the Securities and Exchange Commission a combined $767,500 to settle charges of illegally promoting ICOs. These are first cases the SEC has brought violations involving ICO promotion. The SEC noted that using celebrity endorsers was a crucial part of the ICO issuers’ promotional The post TKO: Floyd Mayweather, DJ Khaled Knocked out by SEC Probe into ICO Promos appeared first on CCN

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Cryptocurrency Derivatives in the UK at Risk of Ban, Taskforce to Have Final Say

Cryptocurrency derivatives including futures, options and contracts for differences could potentially be prohibited in the United Kingdom in the near future. According to a statement issued by the Financial Conduct Authority (FCA), UK’s financial watchdog, consultations will be held between now and the first quarter of next year where a ban on crypto derivatives will The post Cryptocurrency Derivatives in the UK at Risk of Ban, Taskforce to Have Final Say appeared first on CCN

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Spain Approves Law Requiring Citizens to Disclose all Crypto Holdings

The Spanish Ministry of Finance has closed a legal loophole allowing holders of bitcoin and other cryptocurrencies to skirt asset declaration laws. Announcing a draft anti-fraud law approved by the Council of Ministers earlier today, Finance Minister María Jesús Montero explained that the new law will mandate “the identification of the holders and the balances contributed The post Spain Approves Law Requiring Citizens to Disclose all Crypto Holdings appeared first on CCN

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Indian Law Commission Recognizes Cryptocurrency as an ‘Electronic Payment’: Report

The cryptocurrency ecosystem in India may have just found a lifeline, albeit an unlikely one. According to a legal report released in July 2018, the country’s lawmakers are considering legalizing the multi-million dollar sports betting industry – naming cryptocurrencies as a legally acceptable payment method akin to credit and debit cards. India Explores Cryptocurrencies in The post Indian Law Commission Recognizes Cryptocurrency as an ‘Electronic Payment’: Report appeared first on CCN

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Australia Central Bank Admires Bitcoin But Says It Has ‘Flaws’

“Even if one is quite skeptical of whether bitcoin will have a significant role in the economy in the future, I think it is hard to avoid some admiration for its design,” Reserve Bank of Australia official Tony Richards thus addressed bitcoin and cryptocurrencies in general in a speech to the Australian Business Economists in The post Australia Central Bank Admires Bitcoin But Says It Has ‘Flaws’ appeared first on CCN

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47% of South Africans Plan to Invest in Cryptocurrencies

South Africa has the most sophisticated economy and financial sector on the continent, and its citizens are increasingly warming up to the idea of investing and trading in cryptocurrencies — despite regulatory concerns over such decentralised digital financial assets across the world. The MyBroadband 2018 Cryptocurrency Survey — completed in April — shows that more South The post 47% of South Africans Plan to Invest in Cryptocurrencies appeared first on CCN

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