NYDFS to Beef Up Fraud Controls for Crypto Companies

The New York State Department of Financial Services (NYDFS) is persuading all virtual currency business entities to improve their protective measures against fraud
08 February 2018   700

On Wednesday NYDFS released Guidance on Prevention of Market Manipulation and Other Wrongful Activity.

In this guidance, The Department emphasizes that crypto companies are required to implement measures designed to effectively detect, prevent, and respond to fraud, attempted fraud, and similar wrongdoing.

According to the guidance, upon the discovery of any fraud, crypto companies must submit to the Department a report stating all pertinent details known at the time of the report.

The guidance also mandates that virtual currency entities take steps to investigate fraud and wrongdoing, and upon the completion of a given investigation, to issue a statement summarizing the actions taken to resolve any fraud and wrongdoing.

According to superintendent Maria Vullo, the Department is encouraging crypto companies to take the necessary steps to guard against fraud and to be ready for market manipulation. Due to these actions, the market can evolve with strong regulatory supervision.

Ebang to Unveil New BTC Mining Devices

As reported, 10-nm process technology based Ebang E11 miners can reach 44 TH/s performance
25 September 2018   109

The Chinese manufacturer of mining equipment Ebang Communication revealed details about the new line of E11 devices, CCN reports.

At World Digital Mining in Tbilisi, the company introduced three new devices. Based on the 10-nm process technology Ebang E11 miners can reach 44 TH / s. According to the information on the company's website, new miners will go on sale in the near future.

Ebang Mining Devices
Ebang Mining Devices

On the advertising pic there are new devices: E11 (30TH / s), E11 + (37TH / s) and the most powerful E11 ++ (44TH / s)

Main competitor of Ebang - Bitmain - had introduced a high-performance chip BM1391 last week based on 7nm process technology. It is noteworthy that the device E11 ++ from Ebang in its effectiveness exceeds the flagship chip from Bitmain only 2J / TH.

The first information about the new line of miners from Ebang appeared in August.