US to criminalize concealment of crypto-ownership

The Judiciary Committee of the US Senate is working on the bill whose purpose is to criminalize the concealment of ownership of a financial account connected including digital currencies
04 December 2017   1051

The Unites States Senate Judiciary Committee is maintaining bill S.1241 which will control ownership of a financial account and financial institution and criminalize its non-disclosure, now including ownership of cryptocurrency and maintaining cryptoexchanges.

Section 5312(a) of title 31, United States Code, is amended— in paragraph K by inserting “prepaid access devices, digital currency,” after “money orders,”; and by inserting before the semicolon at the end the following: “, or any digital exchanger or tumbler of digital currency”.

Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017

The amendments towards the definition of a 'financial institution' in the United States Code are also included.

Financial institution - an issuer, redeemer, or cashier of prepaid access devices, digital currency, or any digital exchanger or tumbler of digital currency.

United States Code

The abovementioned law may be enforced in order to make changes to existing Anti-Money Laundering laws, which are legal standards regulating the processes of preventing, detecting and reporting instances of money laundering by businesses and financial institutions.

If the bill will actually be imposed it might have a very unexpected and forceful effect on the users of cryptocurrency inside the US as well as the whole world crypto-community.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   404

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.