Investors warned of 5 Crypto Firms by Canadian Regulator

A warning against five unregisreted cryptocurrency firms has been published by the Ontario Securities Commission
22 May 2018   1342

The regulator began gaining the information about these trading platforms after accepting complaints about them. The Ontario Securities Commission (OSC) issued an Investor Alert on Friday, cautioning the public of 5 firms that "appear to be involved in schemes that target Ontario investors and encourage them to trade or invest in cryptocurrencies". 

Btcreal, Bitserial, Hypercube Ventures LP, Cabincoin OÜ, and Baappay Inc. are not registered in Ontario to solicit investments or provide advice on investing in, buying or selling securities.
The Ontario Securities Commission,
Canada

The OSC published last month an Investor Alert on Bitconnect, Bitconnect Coin and the BCC Exchange. “Bitconnect, the BCC Exchange and representatives of Bitconnect are not registered in Ontario to solicit investments or provide advice on investing in, buying or selling securities,” the regulator declared.The first mentioned company is Btcreal which “claims to provide full investment services for cryptocurrency-related investments and forex,” promising investors “high returns in short periods of time,” the OSC reported. The next one is Bitserial which “encourages investors to participate in a lending program where they can exchange bitcoin, litecoin, or ethereum for BTE Tokens that are ‘lent out’ for high returns,” the Commission added.

The third company, according to the comission, is Hypercube Ventures LP which processes multiple websites to encourage investors to buy “emission pools” in order to generate “VNN cryptocurrency”. The fourth is Cabincoin OÜ which "is currently advertising an unregistered token sale for Cabincoin Tokens". The last on the list is Baappay Inc. that “is a multi-layered platform that integrates both fiat and cryptocurrency payment services for merchants, that will confirm and guarantee all payments in seconds,” its website declares. 

The Commission has got the information about these crypto trading platforms last month after it received a number of complaints about them, claiming that to date no platform has been estimated by the OSC as an exchange or exempted from recognition. Any platform suggesting cryptocurrencies that fit the definition of securities “must determine whether it is a marketplace. Marketplaces are required to comply with the rules governing exchanges or alternative trading systems,” the news source added.

Lightning Network Wallet by Breez to be Out For iOs

Solution is based on the lightweight client called Neutrino and it wallet supports Submarine Swaps technology
18 June 2019   202

The Breez payment platform introduced a non-custodial wallet for iPhone that supports the Lightning Network protocol.

The basis of the new product is a lightweight client Neutrino. It is also known that the wallet supports Submarine Swaps technology, which makes it possible to conduct transactions between online addresses and the Lightning Network.

The company's blog says that immediately after installation, the application automatically connects the channel to the so-called Breez hub connected to other Lightning nodes, which allows the user to conduct transactions with any participants in the second-level network. In addition, according to the founder of the company, Ron Scheinfeld, the possibility of a refund is provided in the event of challenging purchases.

In a Lightning economy, people trade money for goods and services. Intermediaries — banks, credit cards, online payment processors, and custodians of any kind — are obsolete. All that remains are the people, trading with each other anywhere, anytime, free to do what each of them thinks is best with their own money. Scale is no longer a concern. Transactions are virtually instantaneous and practically free. The people are free too. Finally.
 

Roy Sheinfeld
Co-Founder and CEO, Breez

The company also noted that within only two months after the release of the version for Android, Breez benefited from "hundreds of users." Currently, the wallet is in beta.

On the eve of the release of the iOS application, the startup managed to attract $ 500,000 from Recruit Strategic Partners and Fulgur Ventures. The funds will be used to develop an application for merchants, allowing them to accept Lightning-payments.