+21 crypto websites to France’s blacklist, Independent Reserve certified by ADCA, BIS sees no financial stability risk from cryptos, Ukraine plans for state-backed crypto
- Looking into the fraudulent activities in the cryptoverse, AMF, the financial regulator of France, has added 21 more websites to its blacklist. These websites are suspected of decoying investors to invest in ICOs, cryptocurrencies, and mining projects by presenting them with appealing offers.
- Independent Reserve recently got certified as an exchange compliant to the Australian Digital Currency Industry Code of Conduct, becoming the first Australian exchange to be regulated by Australian Transaction Reports and Analysis Centre (AUSTRAC).
- No financial stability risk imposed by cryptos at the given time, says the latest report by Bank of International Settlements. In addition to this statement that contradicts all their previous ones, the report also suggested that crypto valuations highly depend on news related to the regulated financial institutions, ‘bringing them within the reach of national regulation.’ However, BIS called for the attention of financial regulators and advised them to keep a keen eye over this growing industry.
- The National Bank of Ukraine plans on launching a state-backed cryptocurrency tied to the country’s fiat currency in order to maintain a 1:1 ratio between the two. Unlike all other cryptos, this would be a centralized one and regulated by the government.
- U.S. SEC seeks coercive measures against owners of PlexCorps who raised $15 million through PlexCoin ICO after promising its investors a return of 1,354% in 29 days. The report suggests that Lacroix and Paradis-Royer, the two owners, have failed to present 'a full list of bank and brokerage accounts [...] and any blockchain addresses through which investor funds were solicited or received'.
- Japanese regulatory authority approved the partnership of Japan-based SBI Holdings and Ripple. They will now be launching a new joint venture namely SBI Ripple Asia which would help users to send peer-to-peer payments using Ripple’s Distributed Ledger Technology. SBI, as it declared the approval, said that their mobile app 'connects to the next generation financial infrastructure utilizing the Distributed Ledger Technology (DLT) at the ‘Internal and external exchange centralized consortium’ to create an environment that allows depositors to remit money between individuals quickly, safely and comfortably'.