Monthly Archives: October 2018

SEC Obtains Emergency Court Order to Halt Questionable ICO

The U.S. Securities and Exchange Commission (SEC) has obtained an emergency court order issuing the stoppage of a recently planned initial coin offering (ICO) by Blockvest LLC and its founder Reginald Buddy Ringgold III, who falsely advertised that the token sale was approved by the SEC. According to the SEC, Blockvest has repeatedly violated both anti-fraud and securities registration provisions by incorrectly claiming that its ICO had obtained regulatory approval from Commission officials. The order further states that Ringgold — who also works under the name Rasool […]

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Crypto Regulations for UK Could Take Two Years, Says Legal Expert

An expert from major British law firm RPC stated that the introduction of a crypto regulatory framework in the U.K. could take two years. Jeff Kaufmann, Legal Director at British law firm Reynolds Porter Chamberlain (RPC), said that the introduction of cryptocurrency market regulations in the U.K. could take two years, according to an RPC press release published Oct. 11. RPC is a London-based corporate and insurance law firm with offices in Bristol, Singapore, and Hong Kong, and staff amounting to 720 people, including over 80 partners […]

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China’s Central Bank Seeks Digital Currency Specialists

The Chinese central bank has opened four job positions that require crypto-related skills, shortly after a report on the advantages of a yuan-backed stable coin. The Chinese central bank, the People’s Bank of China (PBoC), has opened four positions for crypto-related professionals, according to a document published Wednesday, Oct. 10 on the bank’s website. Per the paper, PBoC is seeking two engineers at their Digital Money Institute with experience in blockchain and cryptography, security, and chip design. The bank wants the engineers to develop a secure big […]

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Nigerian Startup Kubitx Launches Bitcoin Exchange in Beta

Kubitx, a Pan-African financial technology startup registered in Malta, announced the beta launch of its new cryptocurrency exchange on Thursday. The platform, which supports six digital coins, including BCH and BTC, will initially be available to users in Nigeria, before the company expands it to other African countries in the coming months. Also read: Billion-Dollar Startups Flourishing in Switzerland’s ‘Crypto Valley- ‘Hybrid’ Exchange Facilitates Payments, Remittances and OTC Trades “Today we launch the Kubitx Exchange feature release version 0.1,” Victor Philips, co-founder and chief operating officer at Kubitx, […]

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“This Isn’t How We Saw This Going”: Civil’s Token Sale Is Treading Water

Despite a flurry of media attention surrounding the project, Civil, an Ethereum-based platform aiming to save journalism, can’t seem to get enough buyers for its token. The project released a transparency report showing the figures behind its CVL token sale, which ends at 11:59 p.m. EST on Monday, October 15, 2018, and the numbers do not look good. “This isn’t how we saw this going,” Civil founder Matthew Iles wrote on October 10. “We don’t know if it will work.” The project needs to raise $8 million […]

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US SEC Halts Fraudulent ICO That Claimed to Possess Regulator’s Approval

The U.S. Securities and Exchange Commission has halted an ICO that falsely claimed the support of the SEC and used a fake regulatory agency to promote their product. The U.S. Securities and Exchange Commission (SEC) has halted a planned Initial Coin Offering (ICO) that falsely claimed have SEC approval, the agency reported in an official press release Thursday, Oct. 11. The SEC suspended the ICO project with an emergency court order, and also halted pre-ICO sales by the company Blockvest LLC, and its founder Reginald Buddy Ringgold […]

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FSB: Crypto-Assets Not a Threat to Global Financial Order

Cryptocurrencies do not pose a threat to global financial stability, but the diverse range of national regulatory regimes throughout the world continues to complicate efforts to establish an international legislative framework overseeing their use, the Financial Stability Board says in a new report.  Also Read: Billion-Dollar Startups Flourishing in Switzerland’s ‘Crypto Valley’ Report Advocates ‘Vigilant Monitoring’ In a document titled “Crypto-asset markets: Potential channels for future financial stability implications,” the FSB argues against an alarmist view of the perceived threat that cryptocurrencies may pose to financial markets throughout the world. […]

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Experts Warn of Cryptojacking Malware That Mimics Adobe Flash Updates

Researchers have identified Monero cryptojacking malware that conceals itself behind an Adobe Flash update. Researchers have identified cryptojacking malware that conceals itself behind a fake Adobe Flash update. The finding has been revealed in a cyber threat report published by Unit 42 research group on Oct. 11. Cryptojacking is the practice of using a computer’s processing power to mine for cryptocurrencies without the owner’s consent or knowledge. According to new research released by Unit 42, Palo Alto Networks’ threat intelligence team, the malware strain surreptitiously compels computers […]

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Indian Gov’t Is ‘Evaluating’ the Launch of Its Own Cryptocurrency, Sources Say

The panel that was set up by India’s Ministry of Finance in 2017 will reportedly evaluate the possibility of issuing a state-backed cryptocurrency. Indian government is “evaluating” the possibility of issuing a state-backed cryptocurrency, sources have told local news outlet Quartz India on Wednesday, Oct. 10. An unnamed “senior official” has told Quartz that the government has set up a panel that will discuss questions regarding cryptocurrencies and blockchain. While, according to Quartz’s source, the government is looking to “encourage” blockchain studies, the launch of a state-backed […]

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Bitcoin Puzzle’s $1.9M Prize Purportedly Won in a Week

Last week, a bitcoin picture puzzle appeared online in which players were challenged to uncover the private key to a BTC wallet. The game sparked major interest, for its 310 BTC prize was magnitudes greater than anything previously offered by a game of this nature. But it appears that somebody has now won the jackpot, as the wallet was drained on Oct. 10. Also read: Bitcoin Puzzle Games Are Growing in Popularity Crypto Challenge Promises Greatest Jackpot of Its Kind “This is a challenge in which 310 […]

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