New Jersey Officials Issue Cease-and-Desist Order

The Bureau of Securities and the Attorney General  issued an emergency order in order to stop Bitstrade, an online cryptocurrency investment fund  
12 February 2018   311

New Jersey attorneys have sent a cease and desist letter to a cryptocurrency investment fund called Bitstrade. This firm claimed that it is registered U.S. financial startup. It offers digital asset banking services. According to New Jersey officials, this firm unlawfully provided investors unregistered securities in the form of a pool that claims to guarantee up to 10 percent returns.

The Bureau of Securities and the Attorney General have found that Bitstrade is not registered to sell securities in New Jersey and does not guarantee investment profit. Attorney General Gurbir S. Grewal stated that this firm was managing and selling securities unlawfully. He also added that the Bureau wants to protect investors and remind them to be extra vigilant about fully vetting what is being sold before investing in cryptocurrency.

We want to make sure that investors tempted to cash in on the cryptocurrency rage aren’t being lured into sending funds to an anonymous internet entity without knowing where the funds are going or how they’ll be used.

Gurbir Grewal 

New Jersey’s Attorney General

More than that, Bitstrade is violating the law by failing to disclose to prospective investors the names of its executive officers, the address of its principal office, information about Bitstrade's financial condition. The firm even did not inform how it invests investors’ money.

New Jersey’s officials plan to regulate cryptocurrency asset industry more due to a high risk of fraud.

Australia joins the crypto-discussions arena with Bitcoin & Blockchain Fair

The inaugural Bitcoin and Blockchain Fair will be presented at the Sydney Showgrounds on May 12-13 with an all-round program about cryptocurrency and blockchain
21 April 2018   44

A high profile event in cryptocurrency and blockchain is coming to Sydney, Australia on May 12-13 – Bitcoin and Blockchain Fair. The conference will provide a platform to interact and discuss on all areas of the cryptocurrency and blockchain technology sectors (fintech, investment, venture capital, regulation, ICO, etc.), current opportunities and perspectives in the form of a Forum and an Exhibition Showcases.

The Exhibition Showcase that will allow to exhibit showcases and engage with crypto services providers, government and fintech startups. Forum is the bulk of the conference and is comprised of 2-day sessions to allow international speakers and industry leaders of the crypto and blockchain sectors a chance to share their expertise. May 12 is focusing on cryptocurrency and ICO engagement; May 13 wil cover blockchain technology overview, case studies, solutions and future trends.

The fair is organized by ABF Business and Principal Sponsor Coinspot. Exhibitors and Speakers include attendees from Asia, Europe and USA together with key Australian high profile crypto & blockchain enterprises. The full agenda of the event can be found here.