Top Stories This Week
In an apparent first, the Financial Crimes Enforcement Network () has given a penalty to a California resident who has been accused of wilfully violating money transmission laws as a peer-to-peer virtual currency exchanger. The department noted that the move marks its first such enforcement action, thus setting a precedent. The defendant — Eric Powers of Kern County, California — has been fined $35,000 and debarred from future work that qualifies as a money services business. The fine came from the determination that Powers violated his reporting obligations under the U.S. Bank Secrecy Act.
, the chief scientist at nChain and founder of SV (), filed a libel claim in the against podcaster Peter McCormack. McCormack had previously Wright of and falsely claiming to be , the creator of (). In response, Wright’s claim allegedly requests over $130,000 in damages, as well as legal costs and court fees. Earlier this week, , ShapeShift and Kraken to delist BSV amid Wright’s continued claims to be Satoshi, as well as his bounty offering in the search for the identity of the anonymous Twitter user behind the .
Cédric O, France’s Minister of State for the Digital Sector, said this week that he is open to accepting donations for the reconstruction of the Notre Dame Cathedral, which a debilitating fire last week. The donations for the medieval cathedral’s reconstruction have already reached over $1 billion, while not yet allowing for donations in crypto. The official fundraising site is linked to four approved organizations, with Cédric O noting that the government is open to discussion on how to accept crypto to drive up the fundraising.
Both , an international event powered by Cointelegraph, and major crypto exchange have crypto donation for the renovations.
Financial outlet Forbes their “’s Billion Dollar Babies,” a list of companies implementing technology that have minimum revenues or valuations of $1 billion. The list includes both companies in the crypto and development spaces, as well as larger companies in the traditional markets, such as banks and clearing houses, companies and supply chain management firms. The list contains such household names as , , , ING, , and Nestle, as well as -based exchange , European and hardware firm , and -based financial services network and creator .
-based giant Nestlé, supermarket chain Carrefour and have partnered in order to use IBM’s tech to track French instant mashed potatoes. Shoppers will be able to use their smartphones in Carrefour stores to scan the packs of Mousline instant mashed potatoes with a QR code and be able to see data on the potatoes, including the varieties of potatoes used, the date and place of manufacture, and their journey to the . In general, around 5 million different items already employ in their supply chain in some form.
Winners and Losers
At the end of the week, is up, at around $5,348, ether at around $173 and XRP at $0.32. Total market cap is around $180 billion.
The top three gainers of the week are fivebalance, atlantis blue digital and segwit2x. The top three losers of the week are cointogo, ezoow and robocalls.
For more info on crypto prices, make sure to read Cointelegraph’s.
Most Memorable Quotations
“We have no idea what the extent of the malfeasance is on centralized exchanges. If we extrapolate from what we’ve seen on DEXes, it could well be on the order of billions of dollars.”
professor at Cornell Tech
“We should let investors, companies, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The has vast potential.”
, U.S. presidential candidate
“From day one, I’ve maintained the allegations are bogus, and they are of course. After their attorney was sanctioned and they were ordered to pay my legal fees twice, we recently reached a confidential resolution, and I’m dismissed from the case.”
, in regard to the court case with the Winklevoss twins
“The digitalization will also create much needed synergies among the government organizations for ensuring friction-less service delivery and improving ease of doing business in the country.”
Pakistani Prime Minister
FUD of the Week
This week, following crypto exchange ’s announcement that they were delisting SV, anonymous exchange ShapeShift has also delisted the currency, as well as . ShapeShift CEO Erik Voorhees posted on Twitter that the exchange stands with the sentiments of and CZ, the CEO, in their decision to delist BSV following controversial claims from BSV founder Craig Wright over his alleged identity as Satoshi Nakamoto, as well as his public bounty to unveil the identity of anonymous Twitter user @hodlonaut. Shortly after, a community poll from Kraken led the exchange to also delist the .
, an , has reportedly let go of half its staff, leaving the company with 14 workers. Unocoin cited regulatory uncertainty in the industry, noting that it made the decision concerning staff reduction ahead of an Indian Supreme Court hearing on legal status in India, set for July. Since the peak of the business, Unocoin has allegedly fired 80% of its staff, and the business operations are reportedly running off of capital reserves as executives await about the future. The crypto industry in India is in the process of fighting the country’s previous negative ruling on crypto dealings, in the form of a s.
A group of individuals have been indicted by the Manhattan district attorney for allegedly selling and laundering millions of dollars with (). According to Manhattan District Attorney Cyrus R. Vance Jr., with help from the U.S. Secret Service, the U.S. Postal Inspection Service and U.S. Homeland Security Investigations, Chester Anderson and his criminal accomplices, Jarrette Codd and Ronald Maccarty, allegedly operated dark web stores that sold and shipped hundreds of thousands of tablets of counterfeit . According to the press release, the defendants laundered a reported $2.3 million in by using preloaded debit cards and withdrawing cash at automated teller machines.
Best Cointelegraph Features
After noting that Lagos, Nigeria, is the number one city in terms of the volume of online searches for , Cointelegraph checks out how Nigerians actually interact with the top .
After this week saw a mass deslisting of ’s SV, Cointelegraph examines what caused the crypto community’s anger toward the self-proclaimed Satoshi Nakamoto.
In Cointelegraph’s first-ever movie review, Emmy-award winning screenwriter Edward Zuckerman takes a look at the “Crypto” movie, finding (spoiler!) little to do with and a lot more to do with the Russian mob.
Published at Sun, 21 Apr 2019 20:56:31 +0000
