French Watchdog Cracks Down on Crypto Trading

Financial regulator will crack down on unregulated cryptocurrency futures and derivatives trading
22 February 2018   725

According to the statement, the Autorite des Marches Financiers (AMF) informed that it observed online trading platforms such as binary options, contracts for differences (CFDs), and Forex contracts. AMF concluded that such platforms qualified as derivatives, making them subject to AMF oversight.

The AMF stated that online platforms which offer cryptocurrency derivatives fall within the scope of MiFID 2 and must, therefore, comply with the authorisation, conduct of business rules, and the EMIR trade reporting obligation to a trade repository.

Two French platforms Plus500 Ltd. and IG Group Holdings Plc. had reported strong growth in their quarterly earnings reports, which they attributed in part to their cryptocurrency futures and derivatives products.

The agency also declared a ban on the advertising of crypto derivatives based on a new anti-corruption law.

At the moment EU regulators are considering banning trading platforms citing concerns about investor protection. Due to this fact, the AMF’s interest in unregulated cryptocurrency futures and derivatives trading increased.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   82

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.