The bitcoin sale in Kenya can have troubles

LocalBitcoins Kenyan traders are accused of fraud in selling bitcoin to thief
01 December 2017   779

From I&M Bank and a Safaricom Pay Bill account was stolen 10.2 million KEH (approximately $100,000). In the course of the investigation the police detained three peer-to-peer LocalBitcoins brokers. They was selling bitcoins to the individual who was attempting to launder the funds. But a real thief was a user LocalBitcoins who named BADASS20.

Traders say they did not know who this user is, and that he wants to launder the stolen money. These data are confirmed by correspondence to LocalBitcoins chat. However, the investigative commission for investigating fraud in Kenya (BFIU) froze the bank accounts of these traders, they were also arrested, but then released on bail.

Strangely, BADASS20 was not identified or arrested, although transfers showed his / her bank account. The profile on LocalBitcoins was still active, although it was not visited for a week. Other users have left negative reviews, warning other users that you can not trade with this account.

This case can set a negative precedent for bitcoin Kenian traders if the government prosecutes these bitcoin traders for bank fraud only though they were unaware of the theft and their only connection to the perpetrator was through LocalBitcoins. Also it could have a negative effect on the Kenian cryptocurrency industry.


SEC to Decide on Bitcoin ETF until Feb 27 2019

Despite this news, Bitcoin price hit another bottom - $3400 this time
07 December 2018   100

The US Securities and Exchange Commission (SEC) issued a notice stating that consideration of a decision on an application to start Bitcoin-ETF from VanEck and SolidX with the assistance of CBOE will last until February 27 of next year.

According to the SEC rules, the period for consideration of this decision cannot be extended yet. Thus, the Commission on maximum uses the allotted time, and February 27 will be the final date for the decision on this application.

The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change.

Securities and Exchange Commision

According to representatives of the SEC, to date, the Commision has received more than 1600 comments on this application.

Despite this news, Bitcoin price hit another bottom - $3400 this time.