Cryptos to Take Off Like Derivatives, Monex CEO Believes

Oki Matsumoto is optimistic about the future of cryptocurrency
02 May 2018   566

The head of the Japanese online broker Monex Group Inc Oki Matsumoto believes that bitcoin and other cryptocurrency assets can "fly up", as derivatives 38 years ago. This opinion he expressed in an interview with CNBC.

Regulators really hated derivatives in 1980 but just soon after that they really embraced them. What's happening in the crypto world today is very similar to derivatives in the 1980s, and sooner or later all of those regulatory frameworks will be fixed.
 

Oki Matsumoto

CEO of Monex

He also recalled that at first the very concept of derivatives was incomprehensible to many.

Only a few people could understand derivatives, just the rocket scientists and those people. But five years later, all the biggest schools in the world were teaching derivatives.
 

Oki Matsumoto

CEO of Monex

Despite the fact that high taxes on cryptocurrencies in Japan deter many retail investors, traders, Oki Matsumoto is convinced, it does not bother.

You don't drink thinking about getting hungover the next day. I think it's going to take time for Japanese retail people to move a good portion of money into crypto.
 

Oki Matsumoto

CEO of Monex

In April, Monex confirmed the acquisition of the Japanese exchange Coincheck for $ 33.6 million.

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.