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Paxtradings Crypto Minute: June 21, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: June 21, 2018

Sprint Partners With NXM Labs to Create Blockchain-Powered Smart Car Platform

Sprint, the U.S.’ fourth-largest mobile network operator, has announced a partnership with NXM Labs, a blockchain startup, to launch a blockchain technology-powered 5G connected car platform. The new platform will also incorporate internet of things (IoT) technologies. According to CoinDesk, Sprint will use the new 5G platform and its LTE network to provide vehicle passengers with mobile wifi, vehicle health monitoring, and a security system to guards against hackers.

John McAfee No Longer Promoting ICOs on His Twitter Feed

John McAfee has announced that he will no longer be offering promotional tweets to ICOs. As reported by MarketWatch, McAfee claims that the U.S. SEC has threatened legal action against him if he continued the practice of selling promotional tweets. In April 2018, McAfee revealed that he charged ICOs up to USD 105,000 per tweet to promote specific ICOs.

IncuBlock Partners with Malaysian Government Advisory Committee to Build Sharia-Compliant Blockchain Solutions

IncuBlock, a South Korean blockchain lab, has signed a memorandum of understanding (MOU) with a Malaysian government advisory committee for Sharia-compliant blockchain solution development. According to CoinTelegraph, the Malaysian government committee, Majlis Perundingan Melayu (MPM), will work with both IncuBlock and MPM’s international partner, Global Cornerstone Group, to develop blockchain platforms and decentralized applications (DApps) that will meet the Sharia Commission’s “social requirements.” Because cryptocurrency is not specifically defined in Sharia Law, there is an ongoing debate about the legality of cryptocurrencies within it.

SEC Targets Founders of PlexCorp ICO for a Second Time

According to a recently disclosed emergency court order, the U.S. SEC has initiated action against Dominic Lacroix, a co-founder PlexCorp, for the second time. According to CoinDesk, the court order permits the SEC to freeze the assets of Lacroix, who the agency called “a recidivist Quebec securities law violator” over his previous attempt to launch an ICO, which agency officials claim is a “full-fledged cyber scam.” The SEC previously sued him for securities fraud in 2017 for his actions in the same ICO, which resulted in his assets being frozen.

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