LocalBitcoins not to support Bitcoin Cash

Peer-to-peer Bitcoin trading platform LocalBitcoins not to add support for Bitcoin Cash or other future forks
26 September 2017   2207

Due to the significant tightening of the state regulation of the cryptocurrency industry, a lot of Chinese traders switch to the popular p2p platform LocalBitcoins. Now it has been announced that the company is not to add support for Bitcoin Cash or other future forks. Instead, LocalBitcoins has compensated users with Bitcoin deposits corresponding to the value of the Bitcoin Cash given to their accounts, as reported by cryptocoinsnews.com.

LocalBitcoins has decided against supporting Bcash, for various reasons. Our primary focus is to provide easy access and global liquidity for Bitcoin and to ensure the security of Bitcoins held in customer accounts.

LocalBitcoins team

Thus, LocalBitcoins says that adding support for Bitcoin Cash would shift resources away from their primary mission, which is to serve the Bitcoin community itself.

Bitcoin Cash charts on coinmarketcap.com
Bitcoin Cash charts on coinmarketcap.com

Meanwhile, at the time of writing, Bitcoin Cash price is about $445.68, its market capitalization is $7,406,922,863, which allows the cryptocurrency to hold the third place in the list.

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   346

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.