Australia to open National Crypto Currency Exchange

A tech firm from Australia plans to open National Currency Exchange which will trade Bitcoin and Ethereum, with other cryptocurrencies and Initial Coin Offerings to be added later in 2018
25 December 2017   1250

As the Australian media resource The West have reported, Australian tech firm from Perth is planning to open a national cryptocurrency exchange early in 2018. At first, National Currency Exchange will be trading Bitcoin and Ethereum, but later more cryptocoins and the upcoming ICO tokens will be added too.

The CEO of National Currency Exchange, Tommy Shin, has stated that $750,000 were raised to fund the cryptocurrency exchange along with a second exchange in Singapore.

We will also be adhering to best practice and industry standards used in the verification of users’ ID as part of Know Your Customer. We have also implemented real-time reconciliation and best practice accounting processes in place to ensure transparency.
 

Tommy Shin

Chief Executive Officer, NCX

The exchange is supported by Subiaco’s Lateral, a technology company which provides expertise to securely manage infrastructure and develop customer-engaging mobile applications.

Apart from Australia, NCX is planning to open exchanges in Singapore, Malaysia, Indonesia, Croatia and other Asian countries during next two years.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   276

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.