The Commodity Futures Trading Commission announced on Thursday that its first Bitcoin-related anti-fraud enforcement action had yielded a significant victory, after a Federal court in New York ordered Nicholas Gelfman and Gelfman Blueprint, Inc (GBI) to pay civil penalties and restitution totaling more than $2.5 million. The defendants had been accused by the CFTC of operating a Bitcoin Ponzi scheme.
Glassdoor’s economic research team released a new report on blockchain and crypto job trends Thursday that revealed a marked increase in job openings throughout the crypto industry. The findings suggested that the number of open positions for blockchain-related employment surged by roughly 300 percent in the last year.
Coinbase has announced that the company will be opening a new office in Dublin, Ireland. The move is reportedly designed to ensure that the cryptocurrency exchange can continue to effectively serve customers in the EU, regardless of the outcome of the UK’s Brexit negotiations. A report from The Telegraph described the move as part of Coinbase’s “Brexit contingency planning.”
Fidelity Investments announced Monday that it will be launching a new company that will focus on managing digital currency assets for its clients, according to Bloomberg. The company revealed that its Fidelity Digital Assets business will provide crypto security, custody, trade execution, and customer services for trading firms, hedge funds, and other Fidelity customers.
South Korean Financial Services Commission Chairman Choi Jong-koo has been a critic of initial coin offerings in the past. Judging from comments he made during a recent National Assembly audit session of his agency, he still views them as an unacceptable risk and a potential threat to investors.
U.S. Senators who attended the Banking Committee hearing on cryptocurrencies Thursday were provided two vastly different assessments of the technology and its potential, according to a report from the Washington Examiner. The hearing featured testimony from Bitcoin skeptic Nouriel “Dr. Doom” Roubini and Coin Center research director Peter Van Valkenburgh.
Millions of cryptocurrency enthusiasts rely on the Blockfolio app to track their digital currency portfolio in real-time. On Wednesday, the company announced that its latest funding efforts have raised $11.5 million in capital, according to Fortune.
The Swiss Financial Market Supervisory Authority (FINMA) announced today that it has granted a cryptocurrency asset management license to Crypto Finance AG subsidiary Crypto Fund, according to reports from Swiss media outlet Swissinfo.
Cryptocurrency exchange Binance has announced changes to its policy for listing fees. In an online post, the company confirmed that it will be more transparent about those fees and intends to donate all collected listing fees to charity. Binance suggested that the change is designed to enhance its charitable efforts and “the use of blockchain for the greater good.”
Norway’s Financial Supervisory Authority has announced that its new money laundering regulations will go into effect on the 15th of October. The new rules will require Norway’s digital currency exchanges and cryptocurrency storage services to properly register with regulators and comply with the provisions of the Money Laundering Act.
In August, the Securities and Exchange Commission confirmed that it would be reviewing its rejection of nine Bitcoin ETF applications just one day after it rejected them. This week, regulators provided a deadline that suggested a final decision could be rendered before the end of October.
Cameron and Tyler Winklevoss’ Gemini Trust Co. announced in a press release this week that it has secured insurance coverage for client cryptocurrency holdings maintained by the exchange, according to a press release. The coverage was secured through “a global consortium of industry-leading insurers and arranged by Aon” and complements the Federal Deposit Insurance Corporation that protects customers’ U.S. dollar holdings.
ICOs have been rightly criticized for being susceptible to scams, but a little basic due diligence can help any investor avoid potential trouble. And make no mistake; that due diligence is an absolute necessity, given recent history. After all, some cryptocurrencies have raised unbelievable amounts of money without ever producing a real product – just empty promises.
Vaporware is software or hardware that is announced publicly and actively promoted, even though it does not exist. Studies have shown that 81% of all ICOs have turned out to be scams, which highlights the lack of due diligence from investors who bought into these projects. The most striking factor in all of this is that even though an ICO turns out to be a failure or scam, the team behind it always walks away with money.
TD Ameritrade announced on Wednesday that the company is investing in the ErisX exchange, according to a report from CNBC. During a phone interview, TD Ameritrade futures and foreign exchange managing director JB Mackenzie confirmed that the Omaha-based brokerage firm’s clients have been requesting greater access to cryptocurrency trading.
DNotes Global, Inc. today announced that company CEO Alan Yong has been invited to deliver a keynote speech at the Emerge ICO Summit on October 9 in Austin, Texas, in which he is expected to share his vision for the blockchain and digital currency industry.
The Emerge ICO Summit is being hosted by Ten Capital Group, and will bring together angel investors, venture capitalists, and crypto hedge funds from the Ten ICO Syndicate with cryptocurrency startups and other companies raising ICO funds. The event is billed as an opportunity for blockchain-based startups to interact directly with technology investors.
During a question and answer session at the Swell by Ripple Conference in San Francisco yesterday, former U.S. President Bill Clinton discussed his presidency, government’s role in preventing financial and other disasters, and aspects of the current cryptocurrency and blockchain revolution. Clinton praised blockchain’s potential benefits but cautioned that those benefits could be lost due to divisiveness and bad policies:
Malta’s Prime Minister, Dr. Joseph Muscat, addressed the United Nations General Assembly this week in a speech that touted his country’s leadership role in embracing and promoting new technological innovation. He noted that his country has worked to “regularize” blockchain technology and told the assembled world representatives that cryptocurrencies are the “inevitable future of money.”
Members of Congress met this week with more than 50 representatives from the worlds of cryptocurrency, finance, and investment capital at a roundtable discussion in the U.S. capital. The crypto representatives reportedly urged congressional representatives to provide greater regulatory clarity for the industry. The lawmakers have responded to those calls by delivering a letter to SEC Chairman Jay Clayton that urges the agency to clarify how it intends to approach regulation for the cryptocurrency industry.
The government of Malta has announced that its new legislation for cryptocurrency and blockchain technology will go into effect on November 1, 2018. The measures had been approved in June by the nation’s Parliament and are designed to provide guidance and oversight for cryptocurrencies, blockchain technology, and initial coin offerings (ICOs).
At DCEBrief, we are committed to providing the information that our readers need to educate themselves about the digital currency and blockchain revolution. As part of that commitment, we support the efforts of other groups and organizations that share that vision. After all, true mass adoption of this technology innovation required an educated and informed population.
We recently had an opportunity to interview Erica Stanford, co-founder of Cryptocurrency Simplified – a platform that shares our commitment to ensuring that people have the resources they need to understand and use digital currency and the blockchain. In that interview, she provided details and insight about her exciting project.