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Paxtradings Crypto Minute: March 1, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: March 1, 2018

SEC Issues “Scores of Subpoenas” to Startups and Marketing Companies in ICO Industry

The SEC has issued “scores of subpoenas” to obtain information from technology companies and advisers tied to ICOs. According to CNBC, the commission is investigating the structure of ICOs. Following the news, the market value of Bitcoin has decreased, but has recovered and increased over the past 12 hours.

Self-Proclaimed Creator of Bitcoin Sued for Allegedly Stealing USD 5 Billion-Worth of Cryptocurrency

Australian entrepreneur Craig Wright, who in 2016 claimed to be the creator of Bitcoin, is the target of a lawsuit. According to CNBC, the lawsuit accuses Wright of stealing USD 5 billion-worth of cryptocurrency and other assets from a former business partner, Dave Kleiman, a now deceased IT security expert. Wright allegedly, “fraudulently created at least three contracts and used a computer-generated signature to lay claim to Bitcoins mined by Kleiman.” While it is unclear whether Kleiman and Wright are Satashi Nakamoto, court documents do concede that the pair have been involved in Bitcoin mining since its inception.

U.S. CFTC Now Allowing Its Employees to Invest in Cryptocurrencies

The Commodity Futures Trading Commission (CFTC) recently informed its employees that they are permitted to invest in cryptocurrencies. According to Bloomberg, CFTC employees can trade cryptocurrencies as long as they do not buy them on margin, have inside information obtained from their jobs, or invest in Bitcoin futures — which the CFTC regulates.

China Pursuing Cryptocurrency Investors Using Overseas Exchanges

China is aiming to close loopholes that allow Chinese cryptocurrency investors to trade digital assets on overseas exchanges. According to Bloomberg, China’s regulators are investigating the bank and online-payment accounts of businesses and individuals suspected of cryptocurrency trading using exchanges located outside of China. The regulators could then freeze the investors’ assets or block them from the China’s domestic financial system.

CEO of Starbucks Claims His Company is Considering the Development of Proprietary Cryptocurrency

According to Bitrazzi.com, the CEO of Starbucks, Howard Schultz, claimed that Starbucks is considering the development of a proprietary cryptocurrency that will work within with its payment app. In an interview with Fox News, Schultz stated, “I think blockchain technology is probably the rails in which an integrated app at Starbucks will be sitting on top of.”

Rakuten to Announce New Cryptocurrency-Driven USD 9 Billion Loyalty Program, Viber Communities

According to TechCrunch, Rakuten will officially announce its new cryptocurrency-driven USD 9 billion loyalty program called Viber Communities tomorrow. The members of Viber Communities will be able to monetize their content and contributions to the community. Viber Communities members will be able to utilize the “network of app partners and the larger e-commerce and media business of Rakuten, which owns Viber (and is known as the Amazon of Japan).”

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