Japanese Firm to Sell Commercial Complex for 547 BTC

It is said to be the first building in Japan to be sold using bitcoin
29 January 2018   210

Yitanzi, a Tokyo-based real estate startup firm, announced its plan to sell a commercial complex for 547 bitcoin (~$6 million). It will be the first building in Japan to be sold using bitcoin, the company said.

Yokozawa Yuske, CTO of Yitanzi said that the recent boom in real estate market is due to the gains from cryptocurrency investments as crypto investors are targeting the real estate market to spend the digital currency trading profits.

Yuske also pointed the growing demand in the market where property owners are proffering multi-million dollar properties in exchange for bitcoin. As for now, the most accepted digital currency in the real estate market is bitcoin, he said.

Recently, we have reported that Japanese cryptocurrency trading and exchange platform BitFlyer has acquired the payment license to operate in EU.

SEC Suspends Trading in 3 Companies

On Friday The U.S. Securities and Exchange Commission temporarily suspended the trading of three companies as they made the purchase of cryptocurrency and blockchain-related assets
17 February 2018   121

According to the announcement, the trade of  Cherubim Investments, Inc., PDX Partners, Inc., and Victura Construction Group, Inc. will be suspended between 9:30 a.m. EST Friday and March 2. The notice was dated Feb. 15.

SEC stated that its trading suspension orders state that recent press releases issued by CHIT, PDXP, and VICT claimed that the companies acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things.

The release also indicates additional reasons for the suspensions. The agency’s orders also say there are questions regarding the nature of the company's business operations. In case of CHIT, the Commission suspended trading in the securities because of its delinquency in filing annual and quarterly reports.

In August 2017, the SEC  issued a warning for investors about the companies that may publicly announce ICO or coin-related events to affect the price of the company’s common stock.

Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams. 

U.S. Securities and Exchange Commission