UK Fintech Company released First Regulated Ethereum Bond

The first Ethereum-denominated bond released by UK Fintech company Nivaura on Wednesday
23 November 2017   1835

In cooperation with JPMorgan, Moody’s, RSM UK and more, Blockchain startup Nivaura created the bond for UK-based luxury goods dealer LuxDeco, which will issue it.

As cryptocurrencies or tokenised fiat-currencies become an accepted form of payment mechanism it won’t be long before automated crypto-denominated deals become standard practice, so the fact that we’ve successfully executed a private placement transaction with retail investors puts us in a really good position to help those who follow in LuxDeco’s footsteps.


Dr. Avtar Sehra

CEO and Chief Product Architect, Nivaura

The UK’s Financial Conduct Authority (FCA) contributed regulatory oversight to the bond’s development process.

The release could have a considerable impact on bonds specifically. Middlemen contribute time and costs to legacy infrastructure, while their replacement with smart contracts would potentially make bonds available to many more businesses with smaller capital.

The news comes as Bitcoin gets ready for debut on Wall Street through CME Group’s futures.

Karpeles to Face Another 10 Years in Jail

Japanese enforcements agencies blamed Mt. Gox CEO in stilling $3M
12 December 2018   94

Japanese prosecutors blamed the head of the already inactive exchange Mt. Gox Mark Carpeles in embezzling 341 million yen ($ 3 million) from a bank account trading platform. The prosecutors made the corresponding statement in the Tokyo District Court, demanding 10 years of imprisonment for Karpeles, reports The Mainichi.

[Mark Karpeles] diverted company funds to such uses as investing in a software development business for personal interest" and "played a great role in totally destroying the confidence of bitcoin users.

Japanese prosecutors

It is noted that in September-December 2013, the head of MtGox allegedly transferred funds to personal bank accounts, and then invested in the software development business.

Carpeles is also accused of faking the data of the trading system of the exchange for the fabrication of balance sheets.

The deadline for accepting applications from affected investors as part of the civil rehabilitation of Mt. Gox has been extended until the end of December.