PBOC fake news shakes Bitcoin

The news about People's Bank of China officially banning the exchanges may be fake, though crushes Bitcoin
13 September 2017   1638

The People's Bank of China (PBOC), which carries out monetary policy and regulate financial institutions in mainland China, has shaken the cryptocurrency world with the ICO ban at first, and then with the official ban of cryptocurrency exchanges.

However, the majority of the cryptocurrency community speculate that the last one is nothing but fake news

Thus, back to September 8th, Samson Mow, CSO of Blockstream and CEO of Pixelmatic, claimed that the China exchanges shutdown might be just a conjecture.

Yet, as reported by cnLedger, now a fake screenshot about PBoC officially banning the exchanges has triggered huge sells in the market.

It goes without saying that such news influences Bitcoin price significantly. At the time of writing, the price of the first cryptocurrency is about $3,789 and its market capitalization is $62,894,655,665. 

Bitcoin price chart on coinmarketcap.com Bitcoin price chart on coinmarketcap.com

Still, some people argue that whether the Chinese news is fade or real, the Chinese market is not so important.

What the future has in stock for Bitcoin and the whole crypto world, remains to be seen. We'll keep you updated. 

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   197

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.