ViaBTC will launch exchange outside China

According to the head of Chinese cryptocurrency exchange, the third of company's customers are outside of China
25 September 2017   825

The administration of the Chinese exchange ViaBTC announced plans to open a new crypto exchange, this time outside the country. It is reported by South China Morning Post.

The exchange was launched in July 2017. Trade on it was focused mainly on users from China, but foreign users could also register by providing the necessary identification documents.

However, in September, as a result of restrictive measures on the part of the Chinese government, ViaBTC decided to wind down this line of activity, officially launching the process earlier this week. Nevertheless, the company does not intend to completely abandon the maintenance of the trading platform.

A third of our customers are outside of China, and I believe they will continue to use the ViaBTC platform.
 

Haypo Yang
Head, ViaBTC

According to him, the exact time frame for launching the exchange outside of China has not yet been determined. He also stressed that the company has the necessary funds to meet all requests for withdrawal of funds, which must be completed before Monday, September 25.

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   236

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.