Japan’s SBI Plans to Launch Cryptocurrency Exchange

Japan’s SBI Holdings has set a target launch date and is preparing to list major cryptocurrencies
30 April 2018   858

SBI Holdings has updated its plans to fully launch a cryptocurrency exchange. The company had planned to launch SBI Virtual Currencies in the autumn of 2017 and at the latest the beginning of 2018. But the plan was postponed following Coincheck’s hack and the trouble with its capital and business alliance agreement with China’s Huobi Group.

President and CEO Yoshitaka Kitao said at a press conference this week that the company is planning to officially start the crypto exchange business in the summer, the news outlet conveyed.

As for which cryptocurrencies will be supported when the full launch comes, Kitao said that it is assumed to be major virtual currencies,[including bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), and ripple (XRP).

The company also emphasized the importance of building trust in the crypto community. To that effect, he recently assumed office as a director of the new self-regulating organization, the Japan Virtual Currency Exchange Association, which was recently established by 16 fully-licensed exchanges.

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   410

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.