New Set of Unregulated Brokers listed in CONSOB Warning

The Italian Regulator alerted the investors against dealing with 100XFX, Centro Banc and Capital Markets Banc
18 June 2018   572

On Monday, The Commissione Nazionale per le Società e la Borsa (CONSOB) and the Italian regulatory published another list of unregulated FX companies suggesting illicit services to Italians. Unlike the general unregulated brokers, whose websites resemble Windows 95 clip-art, the companies CONSOB alerted users against today are processing fairly slick websites. This is worrying given that a more professional looking website is more likely to fool inexperienced investors into passing their means over to the shady figures running unregulated brokers.

The first broker CONSOB informed the users about today is Capital Markets Banc. The organization is aimed to have offices in Dominica and Bulgaria but it is not clear as to whether they have any factual presence in either country. Outside of the site itself, users report, that the site is a scam operation, with clients complaining that they cannot withdraw their funds from their site accounts.

The next exchange included in the list is 100XFX. Built in that hub of commercial activity, St Vincent and the Grenadines, the company declares that it applies Barclays, HSBC and CitiBank as liquidity providers. Although also listing a phone number in the UK, the organization appears to be Russian in origin. Referring CONSOB’s warning, and a litany of negative reviews, this author recommends against doing any business with 100XFX.

The owners of Capital Markets Banc are actually operating another site that CONSOB warned about today - Centro Banc. Conducting out of Liechtenstein, the firm proposes almost the same services as Capital Markets Banc. Considering that it is exactly the same people processing the site, there seems to be no reason that this site is registered.

It is really important for regulators today to stay on top and alert investors against trading with such firms. These organizations tarnish the reputation of an industry that is currently observed with suspicion, or even disdain, by many people.

OKEx & Kraken to List Bitcoin SV

Kraken notes that Bitcoin SV doesn't meet its usual listing requirements
19 November 2018   74

OKEx Bitcoin exchange, charged holders of Bitcoin Cash with BCHABC and BCHSV coins. Bidding for each asset is available in pairs with Tether USD, Bitcoin, Ethereum and OKB token.

Note that futures, margin trading and fiat pairs will remain unavailable for new assets. The withdrawal of coins is also closed indefinitely.

In turn, the Kraken exchange assigned the BCH ticker to the Bitcoin ABC chain, but also made a decision on the listing of Bitcoin SV (BSV).

WARNING: Bitcoin SV does NOT meet Kraken’s usual listing requirements. It should be seen as an extremely high risk investment. There are many red flags that traders should be aware of:

  • No known wallets supporting replay protection (be careful!)
  • No support in major block explorers
  • Miners apparently subsidized or operating at a loss
  • Representatives threatening and openly hostile toward other chains
  • Chain’s survival may be mutually exclusive with other chains
  • Supply is temporarily constrained because of limited wallet support
  • Some large holders have indicated they’d be dumping everything ASAP
  • Kraken has done only very minimal code review

Custodial losses taken on due to attacks originating from nChain or its affiliates will be socialized among all BSV holders on Kraken. Given the volatile state of the network and threats that have been made, Kraken cannot guarantee perfect custody of BSV.
 

Kraken Team

BSV trading will be available in pairs with Bitcoin, fiat USD and Euro.

Meanwhile, the BSV rate in the last 24 hours fell by almost 30%, dropping below $ 90.