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The Daily: Belgium Blacklists More Crypto Platforms, UAE Prepares ICO Regulations

In this edition of The Daily, Belgium’s financial regulator has expanded its list of fraudulent platforms offering cryptocurrency investments, while UAE has announced it’s working on new ICO regulations. We also look at the plans for a common digital currency in the Eurasian Economic Union and Abkhazia’s intentions to regulate its growing crypto mining industry. Also read: Bitcoin Posts Record Volume, Ledger Plans Major Update Belgian Financial Watchdog Issues New Scam Warning Belgium’s Financial Services and Markets Authority (FSMA) has updated its list of companies suspected of operating fraudulent cryptocurrency investment schemes. The regulator has recently added 14 new websites offering crypto asset trading and other services, bringing the total of reported online scams to 113. In a new message to investors, the financial watchdog noted that despite its earlier warnings, it continues to receive new complaints from consumers who have invested in digital assets through the blacklisted businesses. “Hence, the FSMA repeats its warning against the fraudsters behind those platforms who are using cryptocurrencies to swindle consumers,” the agency said. The regulator emphasized that most of these platforms are based on the same principles. They usually claim to offer secure, easy and lucrative investment opportunities and expertise in the management of these investments. Clients are often told their funds are guaranteed and can be withdrawn at any time. In reality, however, they inevitably find themselves unable to recover the money. UAE to Register and License Crypto Companies The United Arab Emirates’ Securities and Commodities Authority (SCA) is gearing up to introduce regulations for initial coin offerings (ICOs) in the first half of 2019. The decision to establish a dedicated regulatory framework for digital token sales is aimed at providing startups in UAE with the option to raise capital through crowdfunding, local news outlet The National reported. According to the publication, the SCA has already recognized tokens issued in coin offerings as securities and will work with the Abu Dhabi Securities Exchange and Dubai Financial Market to develop trading platforms for ICOs next year. The watchdog’s chief executive, Obaid Al Zaabi, detailed: We have signed agreements with law firms to come up with a sandbox and rule books for ICOs. The legal requirements will be completed by the end of the first half of 2019. Al Zaabi added that after the introduction of the new regulations, UAE authorities will work with local exchanges on the implementation of relevant technologies and the development of the necessary infrastructure. He also stressed that the country will remain open to foreign investments in the industry, providing registration and licensing to crypto companies from around the world. EAEU Plans to Issue Digital Coin by 2021 The Eurasian Economic Union (EAEU) is likely to introduce a common digital currency within the next two or three years, according to comments made by Russia’s deputy finance minister Alexei Moiseev. The coin will be similar to the European Currency Unit (ECU), which was used in the European Economic Community and later in the European Union between 1979 and 1998. Moiseev added that not only EAEU members – Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia – but also the union’s partners have shown interest in adopting a common digital currency in their trade and economic relations. He also said that a group of experts is already working to develop the idea. “Inevitably, we have to move in that direction because of the mounting difficulties with accounting. The number of organizations placed under sanctions is also growing. We must respond by creating reliable international payment systems that are not tied to the U.S. dollar,” the Russian official stated, as quoted by Tass. Abkhazia Mulls Mining Regulations The Republic of Abkhazia, a partially recognized entity in northwestern Georgia, is planning to adopt regulations for its growing cryptocurrency mining industry. Its president Raul Khajimba recently scheduled a meeting with members of the territory’s government to discuss the drafting of a law dedicated to placing the mining sector under supervision. The announcement comes after the head of the state-run energy company Chernomorenergo, Aslan Basaria, complained that mining farms set up in abandoned Soviet factories put additional stress on the country’s electrical grid which is already loaded to full capacity. “If temperatures fall, there is a risk that electricity will not reach regular customers,” Basaria warned, quoted by regional media. According to Eurasianet, Abkhazia is emerging as a crypto mining destination much like neighboring Georgia, the country it broke away from in the early 1990s. Both share a large hydropower complex located on the de facto border, which satisfies most of Abkhazia’s electricity needs. In recent years, Georgia has become a regional leader in crypto mining as it offers miners some of the lowest operating costs in the world. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post The Daily: Belgium Blacklists More Crypto Platforms, UAE Prepares ICO Regulations appeared first on Bitcoin News.
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Belgium’s FSMA Lists 14 Fraudulent Cryptocurrency Sites

The Belgium financial regulatory body recently added fourteen (14) fraudulent cryptocurrency websites. The agency, however, states that the list does not cover all illegal sites operating in the country. The FSMA Cryptocurrency Scam List Continues to Grow The official website of the Financial Services and Markets Authority (FSMA), the financial regulatory body in Belgium, recently released a list of cryptocurrency websites suspected of fraud. The fraudulent virtual currency websites blacklisted by the FSMA adds to a previous list created by the body, making a total of 113 digital currency scam sites on its roster. The Belgium financial regulatory body stated it regularly received new complaints from victims who invested in fraudulent cryptocurrency platforms. The agency, however, emphasized that it had issued warnings to investors against such investments in the past. The FSMA reiterated its warning to investors and went further to state the fake virtual currency sites attract investors using a particular approach. According to the regulatory agency, such websites start by claiming that investing in them is secure and lucrative. The sites further assure the investor that expertise is not a criterion to invest in digital currencies and also state that the investor can withdraw funds any time. The agency, however, said that in the end, victims are unable to recover their funds. The FSMA indicated that the above list is based on reports from customers. However, the compilation does not include all illegal cryptocurrency companies operating in Belgium. The regulatory body initially put up such warning list five times between February 22nd and October 26th, 2018. Fraudulent Cryptocurrency Investment Schemes on the Rise Scammers have mastered the art of setting up fake cryptocurrency investment sites or Ponzi schemes, promising high yields to attract unsuspecting investors. These virtual currency scams promise unrealistic returns, while some go as far as imitating original websites. A Ponzi scheme known as Gelfman Blueprint Inc. which claimed to be a hedge fund got over $600,000 from deceiving its customers. A federal court in New York, however, slammed the culprits with a fine of $2.5 million. The penalty would cover civil monetary penalties and clients’ losses. The U.S. State of North Dakota recently sanctioned a fake cryptocurrency website imitating the Union Bank payment coin owned by Union Bank AG. The phony also site copied lots of original content to lure unsuspecting investors. HoweyCoins is a scam website set up by the U.S. Securities and Exchange Commission (SEC) to teach investors the dangers of virtual currency investment scams. The scam website by the SEC carries all characteristics of a real site: white paper, ICO, endorsements and a team. Images courtesy of Shutterstock and FSMA.be. The post Belgium’s FSMA Lists 14 Fraudulent Cryptocurrency Sites appeared first on Ethereum World News.
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Bitcoin exchange Bitstamp acquired by Belgium investment company NXMH

CryptoNinjas Bitcoin and digital currency exchange Bitstamp announced today that the company has been acquired by NXMH, a Belgium-based investment company. The deal was signed by representatives from Bitstamp and NXMH on Thursday, October 25th. NXMH, a Belgium-based holding company,... Bitcoin exchange Bitstamp acquired by Belgium investment company NXMH
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Belgium Blacklists 21 Websites to List of Crypto Firms Suspected of Fraud

The incidents of fraudsters using cryptocurrencies to carry out their malicious activities is growing as fast as the crypto industry, and in spite of prior warnings by the FSMA, cryptocurrency fraud continues to trap ever more victims in Belgium. Belgium Financial Services and Markets Authority (FSMA) is working tirelessly to curb these incidents. The agency also reminded investors to be very cautious before making any decision to participate in suspicious virtual coin trading schemes. Therefore the FSMA has published a new warning today against these forms of fraud. It has also updated the list of cryptocurrency trading platforms for which it has detected indications of fraud, adding 21 new suspect sites. This list now comprises a total of 99 websites. The agency elaborated that “this list is based solely on observations made by the FSMA on the basis of reports received from consumers. It, therefore, does not include all players that may be unlawfully active in this sector.” Five of the blacklisted sites were not available at 13:42 UTC on Friday: kryptonexlabs.com, cryptosafe.tech, parel-invest.com, save-coins.com, and tradabank.com. The FSMA blacklist also names websites that reach out to the victims of earlier crypto frauds. These persons running these websites pose themselves as financial advisors, lawyers, and accountants. They promise victims that they would arrange compensation or to recover their losses in exchange for a fee. The financial contribution by the victim, however, does not result into anything substantial. The FSMA refer these scam websites as ‘Recovery Rooms.’ Belgium Blacklists 21 Websites to List of Crypto Firms Suspected of Fraud Read More Via the Link Below Source https://news.bitzamp.com/
BitZamp

Belgium Regulator Blacklists 21 Crypto Firms Suspected of Fraud

The Financial Services and Markets Authority (FSMA) has added 21 new websites of suspected cryptocurrency scams to its blacklist. Belgium’s financial regulator published the list on its official website, bringing their tally of suspected crypto scams in the country to 99. The agency found that despite their prior warnings concerning the risks associated with crypto The post Belgium Regulator Blacklists 21 Crypto Firms Suspected of Fraud appeared first on CCN
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Maximine Coin Surge, eToro Adds TRON, Rakuten and Yahoo, Boss Crypto - Cryptocurrency News

Maximine coin is up more than 700% within the past 30 days. eToro also announced yesterday that they will add Tron TRX to its platform with more than 10 million registered users. Mattie will also talk about Rakuten and Yahoo continuing Mainstream Progression Towards Cryptocurrency as well as Boss Crypto, a crypto investment and education platform. ----------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: https://twitter.com/Altcoinbuzzio Facebook: https://www.facebook.com/altcoinbuzzio/ Telegram: https://t.me/joinchat/DLi8Ug8negQrbwYO-oqNRA ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ --------------------------------------------------------------------------------- References: BossCrypto – Crypto Investment and Education Platform https://www.altcoinbuzz.io/crypto-news/spotlight/bosscrypto-crypto-investment-and-education-platform/ Boss Crypto https://bosscrypto.co/buzz Yahoo and Rakuten Continue Mainstream Progression Towards Cryptocurrency https://coingape.com/yahoo-rakuten-progress-cryptocurrency/ Rakuten Wallet Launch Announced for March 30, 2019 https://www.ccn.com/rakuten-wallet-launch-announced-for-march-30-2019 Here’s Why Crypto Maximine Coin (MXM) Jumped 754.5% in March https://cryptoupdate.ca/heres-why-crypto-maximine-coin-mxm-jumped-754-5-in-march/ https://www.coingecko.com/en/coins/maximine https://maximine.io/ eToro adds Tron TRX to its Platform with More than 10 Million Users https://www.altcoinbuzz.io/crypto-news/product-release/etoro-adds-tron-trx-to-its-platform-with-more-than-10-million-users/ https://twitter.com/Altcoinbuzzio/status/1110447607250210817 -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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Maximine Coin [MXM] Jumps 30% Higher While Top Currencies Continued Bleeding

In a continuous declining market, there’s one coin that stood out higher. Maximine Coin or MXM Coin broke a new record of entering into the graph of Top 40 cryptocurrencies with a spike of 30 percent over the past 24 hours. Why MXM Coin Pumped Higher? The value surge is quite surprising because the top crypto assets including Bitcoin, Ethereum, XRP, Litecoin, EOS, Bitcoin Cash, Binance Coin, and many other cryptos are on the way out. Nevertheless, the major concern comes after the spike of MXM Coin trading volume on CoinBene exchange which suspects to have wash trading activities. Despite this decline drive, Maximine Coin’s MXM token is ruling with rising volume among the top 40 cryptocurrencies. At the moment, the MXM’s average trading value counts $159,653,386 which has gained 30.11 Percent over the last 24 hours. Moreover, the coin is trading at $0.096818. Maximin Coin or MXM is presently available at a handful of crypto trading platforms including CoinBene, HitBTC, Coinbit, and Livecoin. Among these exchanges, the highest trading volume is split among CoinBene and HitBTC with pair of USDT, ETH, and BTC respectively. Is there anything Related to CoinBene’s Suspected Wash Trading? Looking closer at the coinmarketcap, the highest trading volume of MXM coin can be seen on CoinBene, the exchange which was once noticed of involving with wash trading activities as reported by Bitwise Asset Management. Reports further revealed that the volume is faked by the exchange itself that results to inflate actual numbers to catch user’s attention. Moreover, the exchange registered in Singapore and doesn’t need KYC for a user to have an account with. To note, the Bitforex exchange where MXM Coin will soon be listed is also based out in Singapore – moreover, Maximine Coin is reportedly registered in the same country. Additionally, recent reports reveal that the coin had gained mainstream concern from Bitforex, a Singapore based trading platform. The firm announced to list MXM coin on its exchange which many speculate and relate the coin’s significant performance with. Heard the news? 👂🏼 Seen the papers? 👀 If you haven't, keep your eyes glued to the screen and your ears wide open because @maximinecoin is coming to @bitforexcom ! 🍻🙌🏼 Details in link below! 👇🏼https://t.co/A8E21UuBz2 — MaxiMine (@maximinecoin) March 26, 2019 What do you think about CoinBene and its trading contribution to Maximine Coin? share your opinion with us  The post Maximine Coin [MXM] Jumps 30% Higher While Top Currencies Continued Bleeding appeared first on Coingape.
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