SEC Charges Token Sale Platform For Illegal $14M Securities Offering

The United States Securities and Exchange Commission (SEC) has sued ICOBox and its founder Nikolay Evdokimov for conducting an illegal securities offering and for acting as unregistered brokers. SEC says ICOBox’s digital tokens are worthless In a press release on Sept. 18, the SEC claimed that ICOBox and Evdokimov sold the firm’s ICO tokens to more than 2,000 investors in an unregistered coin offering in 2017. The SEC goes on to say that the defendants claimed that the tokens would increase in value upon trading and that ICO token holders…

NetCents Doubles Partnership Agreements in Six Months

NetCents Technology Inc. (CSE:NC) (OTCQB:NTTCF) announced Wednesday that it is accelerating its pace for market adoption and integration through the sign on of its 40th partnership agreement. Doubling its number of partnerships in just over six months reflects NetCent’s aggressive trajectory to accelerate its partner growth and keep pace with merchant adoption of cryptocurrency. It also demonstrates the increased willingness of merchants to adopt traditional payment alternatives by incorporating NetCent’s payment solution in-store, online, and within their POS systems. “This accelerated partner growth continues to validate our business model and the…

Luxembourg Regulator Red-Flags Activities of BitPay Clone Website

Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), red-flagged the activities of a fraudulent clone website that is impersonating cryptocurrency payment services provider BitPay. On Sept. 18, the CSSF issued a warning against a crypto payment company going by the name Bitbay Europe S.A. The website alludes to being the European branch of BitPay, stating, “The world’s smartest Bitcoin exchange service has landed in Europe.” The firm claims to be authorized to operate in Luxembourg and work under the supervision of the CSSF. However, the financial market regulator…

Libra Should Not Scare Central Banks, Says Facebook

Libra, the cryptocurrency that is expected to be launched by Facebook (NASDAQ:FB) in 2020, has proven to be the biggest disruptor in the crypto sphere since June. Policymakers, central bankers, and even politicians have expressed their skepticism with regards to the project. Relief for Crypto Traders? The announcement in July created massive disruption in the crypto market, and it was around that time that Bitcoin lost its momentum. That being said, the troubles for Libra are not over yet as fresh fears have been raised whether the Facebook-backed stablecoin is…

Wells Fargo to Launch USD-Pegged Stablecoin for Internal Settlements

US multinational megabank Wells Fargo & Co. (NYSE:WFC) has revealed plans to launch a US dollar-linked stablecoin that will run on the company’s first blockchain platform. The “Wells Fargo Digital Cash” The service, dubbed “Wells Fargo Digital Cash,” is a tokenized dollar that will be used in internal settlement across the firm’s business. The stablecoin will be piloted first and will debut next year. It’s initially targeting USD transfers, but there is a wider plan to accommodate transfers in other currencies within the company’s blockchain network. On Tuesday, the company…

Facebook Met British Authorities Prior to Libra’s Official Announcement

Facebook reportedly met British authorities and regulatory officials three times prior to publicly announcing plans for the Libra stablecoin project. As Reuters reported on Sept. 18, this spring Facebook had several appointments with officials at Britain’s finance ministry, the Financial Conduct Authority and the Bank of England. Reuters received details regarding the meetings after submitting freedom of information requests. At the meetings Facebook discussed its forthcoming digital currency Libra in a bid to get support from  authorities before the official announcement. Libra’s attempts to get regulatory approval Libra has been…

Retail Giant Overstock Seeks to Restructure Cryptocurrency Dividend

American e-commerce giant Overstock hopes to liberalize its planned digital dividend shares trading. According to a Sept. 18 press release, Overstock is working with regulatory authorities on making its digital asset-based dividend freely tradable by non-affiliates following distribution. As such, the company will not have to put its dividend shares on the six-month holding period as required under Rule 144 enforced by the United States Securities and Exchange Commission. Commenting on the development, interim CEO of Overstock Jonathan Johnson said: “We have received a great deal of interest surrounding our…

Crypto Not Competitive With Gold: Barrick Gold Exec

Catherine Raw, the North America COO of the largest gold mining firm in the world, Barrick Gold, said that she does not think cryptocurrencies are competitive with gold, Fortune reported on Sept. 18. Raw made her remarks yesterday at Fortune’s Most Powerful Women International Summit, where she stated: “The very tangible nature of gold is what keeps a special place for it. So it will always have value, whatever the price is, I don’t know, but it will not be zero. Whereas cryptocurrency could be zero — that’s the difference.”…

IBM and Citibank Join Singapore Late-Stage Blockchain Accelerator

IBM, Citibank and video game giant Ubisoft have signed up to Singapore-based blockchain accelerator Tribe Accelerator. Corporations mingle with blockchain startups Local news outlet TheStraitsTimes reported on Sept. 18 that the companies above joined as corporate partners Tribe accelerator for the second edition of its four-month program. Per the report, Tribe helps blockchain startups in their growth-stage by connecting them with major corporations. Startups of this second group operate in fields such as media and advertising, cybersecurity, healthcare, fintech and supply chain management.  The list of participating startups includes Binance-backed…

Craig Wright Asks for 30-Day Extension to Delay 500K Bitcoin Payout

Craig Wright, a self-proclaimed inventor of Bitcoin (BTC), has asked for another extension of a deadline to settle his case involving his late partner Dave Kleiman. Wright entered negotiations On Sept. 17, Wright’s attorneys filed a new 30-day extension for all discovery and case deadlines, citing the need to facilitate the ongoing discussions with Dave Kleiman’s estate as the parties have entered “extensive settlement negotiations.” According to the document, Wright’s lawyers and Kleiman’s estate have reached a non-binding agreement to settle the matter and are continuing to negotiate and finalize…