US, Canadian Watchdogs to Start Anti Crypto Scam Action

"Operation Cryptosweep" constitutes "nearly 70 inquiries and investigations and 35 pending or completed enforcement actions"
22 May 2018   462

A group of financial regulators from the US and Canada announced an "international crackdown" to combat fraudsters in the field of cryptocurrencies. This is reported by Washington Post.

The initiative, sponsored by the North American Securities Administrators Association (NASAA), received the name "Operation Cryptosweep." It consists of "nearly 70 inquiries and investigations and 35 pending or completed enforcement actions since the beginning of the month." In addition, even more investigations are on the way, but it is not clear now when it will be told about the related enforcement measures.

The initiative began to gain momentum in April, when a working group consisting of NASAA members was established to "to begin a coordinated series of investigations into ICOs and cryptocurrency-related investment products". The regulators will be focused on the ICO and the sale of tokens.

The market for cryptocurrency investments is saturated with widespread fraud, and our work is only revealing the tip of the iceberg.
 

Joseph Rotunda

Director, TSSB's Enforcement Division

NASAA has not yet commented on the situation, but other agencies involved in the operation, reported that the initiative to combat fraudsters has a large-scale nature. Examples of state-based regulatory actions include one that touted false endorsements from celebrities like actress Jennifer Aniston.

Binance to Launch Crypto-Fiat Exchange at Jersey

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs
16 January 2019   72

Binance has opened a branch at Jersey island, targeting Europe and the UK. Its clients will be able to trade Bitcoin and Ethereum for the euro and the British pound. 

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs. To start trading, users must undergo KYC verification.

According to Binance CFO Ju Wei, bidding cryptocurrencies for fiat money will provide Europeans with new opportunities in the face of uncertainty with Brexit affecting the euro and the pound.

Wei also stressed that a strong legal framework makes Jersey one of the leaders in the development of blockchain technology.