Spanish Authorities to Request Info on Crypto Holders

Requests were sent to 60 organizations - including banks, crypto-exchange platforms and firms specializing in securities trading.
06 April 2018   539

The Spanish Tax Board has requested from local commercial companies and financial organizations names and information about trade transactions of cryptocurrencies purchasers. Thus, the agency hopes to identify and suppress cases of tax evasion and money laundering using digital assets, reports Bloomberg.

According to the source of the publication in the department, requests were sent to 60 organizations - including banks, crypto-exchange platforms and firms specializing in securities trading.

This step was a logical continuation of the work of the National Office for Investigation of Fraud with Bank Accounts, opened abroad, the source said. So, at the moment the authorities of Spain are trying to prevent tax evasion and, in particular, require that Internet companies, including Airbnb Inc., disclose the identities of their clients.

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   410

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.