Chinese crypto exchanges will be closed before 1.10

Ethereum Classic China laid out one of the documents, which, presumably, contains an appropriate order
15 September 2017   2077

According to incoming reports, all the existing crypto-exchange markets in China will be closed until the end of this month.

At the time of publication of official statements by the regulatory authorities of China was not received, but Twitter-account Ethereum Classic China (@ETCChina) laid out one of the documents, which, presumably, contains an appropriate order.

In addition, the Washington Post reporter Luna Lin wrote that until the end of today the stock exchanges OKCoin and Huobi will have to decide on the timing of the termination of exchange trading. Originally, Luna Lin published a tweet saying that OKCoin and Huobi were ordered to stop trading until the end of today, but then clarified that "decide by the end of today when they would stop trading."

Luna Lin added that the information is confirmed by the Chinese edition of Security News and also published a copy of the document that ETCChina previously laid out. The ETCC added a few details:

  1. All exchanges must submit a plan by September 20, according to which the users' funds will be withdrawn
  2. Also, by the specified date, exchanges must have a bank account on which users' funds will be stored
  3. Until 24:00 on September 15, exchanges must make statements in which the date of termination of trading will be indicated. Also from today, registration of new users should be stopped.

Also, a statement from yunbi released. It will close trading services on Sept. 20th.

Earlier today, the ViaBTC exchange announced its closure on September 30. On Thursday, a similar decision was made by the BTCC, one of the largest cryptoexcnhe in China.  

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   174

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.