My Big Coin Suspected by CFTC in Fraud

According to the CFTC, My Big Coin illegally seized more than $ 6 million in the period from 2014 to 2018
25 January 2018   135

The Commodity Futures Exchange Commission filed lawsuits against two people and one company in connection with their participation in fraudulent crypto projects. This is reported by CoinDesk.

The Commission accused Randall Creter, Mark Gillespie and My Big Coin Pay, Inc. in the receipt of funds from customers and their subsequent transfer to their personal accounts. The defendants are said to have spent these funds "on personal expenses and the purchase of luxury goods."

According to the CFTC, the defendants illegally seized more than $ 6 million in the period from 2014 to 2018. Respondents are also accused of falsifying information about the project, including statements that the company was provided with a gold reserve, and its partner was MasterCard.

The My Big Coin website offers many crypto-currency services, including the ability to purchase, sell and mine the My Big Coin cryptocurrency. The site's blog has not been updated since June 2017.

As this case shows, the CFTC is actively policing the virtual currency markets and will vigorously enforce the anti-fraud provisions of the Commodity Exchange Act. In addition to harming customers, fraud in connection with virtual currencies inhibits potentially market-enhancing developments in this area.

James McDonald 

Enforcement director, CFTC

The lawsuit was filed January 16, along with two other lawsuits against cryptocurrency crooks.

Genesis Conference to be Held in London

Genesis Conference will cover research and development, regulation, economics and applications issues, taking place in London on February 22
22 February 2018   73

Genesis London Conference will take place on February 22, tackling the most pertinent issues in blockchain space: research and development, regulation, economics and applications.

Genesis London is a platform for researchers, developers and generally anyone interested in blockchain, and its priority is to share knowledge, facilitate productive discourse and filter out the hype.

Location: The CityPoint building, 1 Ropemaker St, London, EC2, UK
Date and time: 9:30AM - 8PM, February 22, 2018

The agenda of the conference includes Privacy and Confidentiality Techniques for Blockchains; Permissioned Business Blockchain Applications and Use-cases; Scalable, Transparent and Post-quantum Secure Computational Integrity, with Applications to Cryptocurrencies; A Rational Protocol Design Treatment of Bitcoin, and more.

The headline speakers include Patrick de Laive, co-founder of TNW; Margarita Khartanovich, head of insight at Binary District; Jack Gavigan, chief operating officer at ZCash; Jeremy Kahn, technology writer for Bloomberg, and many more.