Zilliqa to Track Suspect Transactions in Own Chain

Team has joined forces with Elliptic startup to use their AML tool to make their platform more attractive to the corporate sector 
28 November 2019   191

Singapore-based Zilliqa has partnered with London-based Elliptic, which will allow the latter to control suspicious transactions on the Zilliqa network and XSGD stablecoin.

Zilliqa expects that the integration of an anti-money laundering (AML) tool will make the blockchain platform more attractive to the corporate sector.

Elliptic will track every transaction all the way to the source. If it turns out to be one of the purses previously noticed in the illegal activity, the system will issue a warning.

Earlier, Elliptic software implemented the Binance bitcoin exchange to strengthen legal compliance.

SEC to Accuse Shopin in $42M Worth ICO Scam

The Commission believes the actions of Shopic during the ICO was the offering or unregistered securities
12 December 2019   92

The U.S. Securities and Exchange Commission (SEC) has accused Shopin and its CEO Eran Eyal of cryptocurrency cheating on investors during the initial offer of $ 42 million tokens.

According to the SEC, the actions of Eyal and his company were an unregistered offer of securities in the form of Shopin tokens.

Eyal told investors that the funds raised would be used to create a blockchain platform for storing and tracking profiles of online store customers. In addition, he lied about existing partnerships with retailers, the agency said.

The problem is that Shopin never created a system, says the regulator.

Instead, Eyal appropriated more than $ 500,000 for personal use, including a dating service.

SEC accused Eyal and Shopin of violating securities laws. The regulator requested the court to oblige the accused to return the illegally appropriated funds with interest and payment of fines. In addition, the SEC has proposed banning Eyalu from acting as an official in any offer of securities or tokens.

In a statement, the SEC also recalled that the prosecutor’s office in 2018 accused Eyal of appropriating $ 600 thousand of investor funds to his previous company Springleap.