Bank of Korea thinks of Issuing a Central Bank Digital Currency

The Bank of Korea is supporting the study into cryptocurrencies, including the possibility of issuing a central bank digital currency (CBDC) 
04 May 2018   604

According to the Korea Times, on Wednesday, the Bank of Korea stated it was in the “early stages” of learning  cryptocurrencies and the implications of issuing them as a central bank. 

A taskforce has been studying the possibility of issuing a CBDC and how digital currencies will influence the country’s overall financial sector since January. We will announce updates on this issue by the end of June.
The Bank of Korea

The monetary official underlined it is presently ‘premature’ to work on whether it would issue a central bank digital currency while insisting that it is keeping an eye on other endeavors by counterparts totally. It`s worh to say that the revelation proceeds  a recent announcement by the BOK wherein the central bank affirmed it is concerning blockchain use cases and cryptocurrencies for its ‘cash-free’ society pilot. As the report claimed, the bank has already started exploring potential uses of blockchain in common research with other central banks in order to apply the decentralized technology for payment rails. 

South Korea is among the world’s largest cryptocurrency trading markets and has vindicated to be a hotbed for blockchain applications in many fields including shipping, registering a community vote for an entire province, retail insurance payments in Seoul and more.

Korea’s interest into exploring a central bank digital currency gets into a constantly growing list of countries including China, Singapore, Sweden, Japan and a number of others states that are actively studying central bank-issued digital currencies. One of those efforts is forecasted to go live this year according to Antony Lewis, director of research, cash and CBDC strategy at global banking blockchain consortium lead R3.

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   410

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.