Bitcoin Global News (BGN)
September 21, 2018 -- ADVFN Crypto NewsWire -- New York - Warning
Against Major Exchanges
The New York Office of the Attorney
General (OAG) published a report claiming that several
cryptocurrency exchanges that were investigated by the organization
are vulnerable to market manipulation. Most notably, the report
highlights that as many as 20% of Coinbase transactions are
executed by the company itself not the customers.
Mike Lempres, Coinbase's chief
policy officer spoke out at the deeper implications these claims
have caused for their business:
"When Coinbase executes these
trades, it does so on behalf of Coinbase Consumer customers, not….
for the benefit of the company on a proprietary basis."
He explained that those trades are
signaled by consumer-driven volume through a Coinbase a service
that executes users' orders for them, never
“self-trading.”
Texas - Files Three
Lawsuits
The Texas State Securities Board
moved to an emergency action against three crypto investment
systems. They allege that all three are explicit schemes made to
defraud local investors.
Coins Miner Investment Ltd
- the group has filed a cease and desist order to the company.
The group has revealed that the company has been sending
promotional emails to Texas residents as if they represent other
major cryptocurrency companies, such as the Coinbase cryptocurrency
exchange. However, the company is actually Russian based. The suit
highlights images and video used to mislead state residents, the
watchdog said.
DigitalBank Ltd
- another cease and desist was sent to the supposed
creator of a hack-proof cryptocurrency wallet. The firm went as far
as to offer returns as high as 1,900% during their ICO phase, and
use a video of Barack Obama in their promotional materials,
claiming that he was speaking positively of their company. In
addition, any funding recieved during their ICO would have been
illegal, as the company was never registered under Texas law,
according to the order.
Ultimate Assets
- the third order was made against a company
soliciting Texas residents for forex trading services. The firm
claimed to be based in Arlington, Mass. but the investigation was
not able to find a real corporate records for the company in that
state. The company made promotional promises of $1,000 initial
investments coming to $10,000 in just three weeks.
California - Rejecting
Campaign Donations
At the federal level in the U.S.,
Bitcoin donations are accepted, but some states have moved to
overturn this, such as South Carolina and now California.
California’s campaign law has been adjusted to disallow Bitcoin
(BTC) from political donations as of Thursday, September
21.
Back in August, the Fair Political
Practices Commission (FPPC) considered allowing donations in
cryptocurrencies, but has since ended the conversation after voting
on the topic in favor of rejecting cryptocurrencies.
By: BGN Editorial Staff
News:
Cryptocurrency