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Paxtradings Crypto Minute: February 28, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: February 28, 2018

Japan’s Financial Service Agency (FSA) Considering New Regulations for ICOs

Japan’s Financial Service Agency (FSA) is considering a new regulatory framework for ICOs. According to CoinDesk, Japan currently has no ICO-specific regulations, although the FSA already monitors suspicious ICOs that target Japanese investors.

Circle Announces Acquisition of Poloniex

Circle, a cryptocurrency-focused financial-services firm, announced that it is acquiring the U.S.-based cryptocurrency exchange, Poloniex. According to Fortune, this acquisition makes Circle “one of the largest and most influential companies” in the cryptocurrency industry. The company is aiming to be more competitive with larger exchanges — such as Coinbase, Bittrex, and Kraken.

Nucleus Vision Cancels ICO After Reaching Hard Cap through Traditional Venture Funding

A blockchain firm, Nucleus Vision, has reached its USD 40 million hard cap with the backing from several prominent blockchain-focused investment firms — such as Alphabit Digital Currency Fund, FBG Capital, Kenetic Capital, Turiya Ventures, and BlockAsset. According to BlockTribune.com, Nucleus Vision has consequently cancelled its ICO. The funds will be used to continue development of its platform.

Trump Administration Developing a “Comprehensive Strategy” Around Cryptocurrencies

Rod Rosenstein, the Deputy Attorney General of the U.S., claimed that the U.S. government is developing a “comprehensive strategy” around cryptocurrencies. According to CoinDesk, at the Financial Services Roundtable’s spring conference earlier this week, Rosenstein referred to a new cybercrime task force that will develop a strategy around crimes involving cryptocurrencies. Rosenstein remarked that cryptocurrencies used in money laundering process leaves clues for federal investigators.

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