Japan Can Have More Than 3M Crypto Traders, FSA Says

As of the end of March, 142 000 people in the country are investing in crypto-margin positions and futures
10 April 2018   659

The Financial Services Agency of Japan (FSA) for the first time published official statistics on cryptocurrency trading. Judging by the data collected on 17 trading floors, as of March 31, at least 3.5 million people in the country are engaged in digital assets trading. This is reported by Coindesk.

Among them, traders under 30 years old make up 28%, up to 40 years 34%, and up to 50 years - 22%, respectively. It is noted that the publication of this data was the next step of the FSA on the way to increasing the transparency of the local crypto exchange industry after the of more than half a billion dollars stolen from the Coincheck exchange.

In addition, according to the regulator, as of the end of March, 142 thousand people in the country are investing in crypto-margin positions and futures.

It is noteworthy that the annual trading volume directly by bitcoin increased from $ 22 000 000on March 31, 2014 to $ 97 000 000 000 in 2017. At the same time, trading in margin, credit and futures positions on bitcoin increased from $ 2 000 000 in 2014 to $ 543 000 000 000 only in 2017.

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   392

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.