G20 Summit: What Should Crypto Community Expect?

Participants' names and dates of cryptocurrency-related meetings at G20 Summit unveiled

16 March 2018 889

The G20 summit, to be held next week in Argentina, will include two discussions on the topic of cryptocurrency. Participants of the meeting intend to develop a "common response" to the issue of regulating digital assets. This is reported by CoinDesk.

The first meeting will be held on Monday. Among others, the Minister of Finance of Argentina, Nicola Duchovny, and the Secretary General of the Organization for Economic Cooperation and Development (OECD), Jose Angel Gurria, will attend. The second meeting will be held on Tuesday.

The agenda and the main issues of the discussions is not called. According to the information from the published document, they will be connected with the influence of the crypto currency and the possibilities for applying the underlying technology.

The issue is an important item on the meeting agenda; delegates will consider a common response that would mitigate the risks without discouraging innovation.

G20 Summit Public Document

The document also notes that the blockchain "has the potential to spread financial services." At the same time, its drafters stress "it is important to analyze its implications to financial stability, tax evasion and financial illegal activities."

The discussion on the issue of crypto-currencies at the G20 summit was previously called for by representatives of the United States, Germany, France and Japan.

ICO Blockchain

SEC to Accuse Shopin in $42M Worth ICO Scam

The Commission believes the actions of Shopic during the ICO was the offering or unregistered securities

12 December 2019 92

The U.S. Securities and Exchange Commission (SEC) has accused Shopin and its CEO Eran Eyal of cryptocurrency cheating on investors during the initial offer of $ 42 million tokens.

According to the SEC, the actions of Eyal and his company were an unregistered offer of securities in the form of Shopin tokens.

Eyal told investors that the funds raised would be used to create a blockchain platform for storing and tracking profiles of online store customers. In addition, he lied about existing partnerships with retailers, the agency said.

The problem is that Shopin never created a system, says the regulator.

Instead, Eyal appropriated more than $ 500,000 for personal use, including a dating service.

SEC accused Eyal and Shopin of violating securities laws. The regulator requested the court to oblige the accused to return the illegally appropriated funds with interest and payment of fines. In addition, the SEC has proposed banning Eyalu from acting as an official in any offer of securities or tokens.

In a statement, the SEC also recalled that the prosecutor’s office in 2018 accused Eyal of appropriating $ 600 thousand of investor funds to his previous company Springleap.