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Major Spanish bank Santander is reportedly ceasing to enable United Kingdom customers to deposit their fiat funds to major cryptocurrency exchange Coinbase. Major Spanish bank Santander is reportedly ceasing to enable United Kingdom customers to deposit their fiat funds to major cryptocurrency exchange Coinbase. An unverified source posting to Reddit on Aug. 14 claims to have been informed of the development over the phone by a Santander representative. “Isolated to Coinbase,” not crypto in generalThe source alleges that having been informed over the phone, they put in a complaint with the bank’s complaints unit, which then reportedly confirmed that the client should move to an alternative bank if I wish to make the payment. The complaints unit reportedly revealed that the restriction was likely due to the bank’s attempts to tackle an apparent increase in Coinbase-related fraud. The post has sparked over 100 comments to press time, with at least three fellow Redditors noting they ha..
After 1.5 years of investigation, Coinbase is found guilty not of fraud but of negligence. But the case is not completely over just yet... Cryptocurrency exchange Coinbase, launched in 2012, is considered to be one of the largest exchanges operating in the United States — and the most trusted. However, an alleged wrongdoing back in December 2017, caused a long court procedure, the outcome of which is still vague and uncertain. It’s all fun and games until a hard forkOn March 1, 2018, an Arizona citizen and trader named Jeffrey Berk filed a lawsuit in the Northern District Court of California on behalf of exchange users who found themselves in a similar situation, accusing Coinbase of sharing misleading information and — most importantly — insider trading, both of which allegedly resulted in mass losses of funds. It started when the Bitcoin community was about to split the chain. At the end of July 2017, right before the hard fork, Coinbase declared that it would not support the new ..
The veteran trader openly calls XRP a scam as Ripple lawsuit edges closer to unregistered securities verdict. Ripple is coming under fire from a serial Bitcoin (BTC) proponent this week after news emerged a lawsuit against the company has intensified. Ripple will feel U.S. regulators’ wrath, says VaysRipple, which notionally controls the token known as XRP, is currently being taken to court by an investor, Bradley Sostack, who claims the company engaged in selling unregistered securities. As Cointelegraph reported, the stakes increased this week, after Sostack amended his original claim to include fresh guidance from the United States Securities and Exchange Commission (SEC). According to reports, the SEC’s latest pronouncements lend weight to Sostack’s argument, and a filing now shows Ripple must respond to the accusations next month. “Thor’s hammer”Commenting on the events meanwhile, Tone Vays, the veteran trader and host of the Bitcoin Law Review podcast, levelled harsh criticism..
The United Kingdom’s Advertising Standards Authority (ASA) has upheld a complaint against a Bitcoin advertisement from top crypto derivatives exchange BitMEX. The United Kingdom’s Advertising Standards Authority (ASA) has upheld its complaint against a Bitcoin advertisement from top crypto derivatives exchange BitMEX. According to an ASA announcement dated Aug. 14, the watchdog has taken issue with the purportedly misleading nature of a graph showing Bitcoin (BTC) price performance in a newspaper ad from January of this year. ASA says it received 4 complaintsAs the ASA outlines, the ad in question comprised a double spread of a logarithmic graph showing the value of Bitcoin against the US dollar over the past decade. Alongside the graph, BitMEX’s ad included two texts: first, on the left page, it stated: “3 January 2009. Ten years ago today, the first block of the Bitcoin blockchain referenced the front page of The Times.” On the right was written: “3 January 2019. Turns out, that was..
After about a year without traction, a class action suit against Ripple has opted to cite SEC guidelines in arguing that XRP is a security. XRP investor Bradley Sostack has amended a class action suit against Ripple, in which he alleges that the company misled investors and proceeded to sell XRP as an unregistered security, in violation of federal law. Sostack submitted his latest filing on Aug. 5 to a United States district court in California. According to a report by CoinDesk on Aug. 13, the original class action suit was filed about a year ago, but had yet to gain traction as a class action suit. However, Ripple now must reportedly respond to this latest action by some time in mid-September. Appeal to SEC guidelinesCrucially, the report notes that Sostack’s latest complaint cites guidance issued by the United States Securities and Exchange Commission arguing that XRP counts as a security. Jake Chervinsky, who serves as general counsel to Compound, remarked: “The Complaint reads l..
A dusting attack has been carried against Litecoin users, according to crypto exchange Binance. Cryptocurrency exchange Binance claims that a dusting attack against fourth-biggest altcoin, Litecoin (LTC). A large scale attack against privacyThe official Twitter exchange of cryptocurrency exchange Binance claimed that a major attack against users of altcoin Litecoin took place yesterday. The firm made this claim in a tweet on August 9: “Approximately 5 hours ago there was a large-scale dusting attack on $LTC @Litecoin users.” The tweet also links to a transaction — which according to Binance is part of the attack — sending a fraction (0.00000546 LTC) of a coin to 50 addresses. Furthermore, the exchange also links to an explanation of a dusting attack, which defines it in the following way: “A dusting attack refers to a relatively new kind of malicious activity where hackers and scammers try and break the privacy of Bitcoin and cryptocurrency users by sending tiny amounts of coins to th..
The New York Office of the Attorney General has filed a letter, arguing against Bitfinex and Tether’s request for a continued stay of demands. The New York Office of the Attorney General (NYAG) has submitted a letter to Justice Joel M. Cohen, arguing that cryptocurrency exchange Bitfinex and affiliated Stablecoin firm Tether should not be granted a continuing stay of demands. The NYAG submitted its letter on August 1 — the latest chapter in the New York Attorney General’s ongoing case against Bitfinex, parent company iFinex and Tether, in which the state alleges a multimillion loss coverup took place. The motivation for NYAG’s letterThe court initially issued a stay of document demands in May at the defendants’ request. This means that the court currently only requires the defendants to produce documents and information pertinent to the issue of whether or not New York is the appropriate jurisdiction for the NYAG’s complaint, as opposed to a wholesale disclosure of complaint-pertinent..
A British judge has thrown out Craig Wright’s libel case against Roger Ver due to questions of jurisdiction and whether actual harm was committed. A Justice of the High Court of England and Wales has dismissed a libel lawsuit against Bitcoin Cash (BCH) proponent and Bitcoin.com CEO Roger Ver. Justice Matthew Nicklin of the Queen’s Bench Division threw out the case earlier this week, according to a decision published on July 31. Back in May, Craig Wright — an Australian computer scientist who claims he is Satoshi Nakamoto, the creator of Bitcoin — served Ver with a libel suit in London. Wright accused Ver of calling him a fraud and a liar, among other things. Justice Nicklin wrote: “The Claimant has not satisfied me that England and Wales is clearly the most appropriate place to bring his action for defamation over the publications complained of. In consequence, the Court has no jurisdiction to hear and determine the action. The action will be struck out.” According to Nicklin, the evi..
Nasscom, a major Indian IT trade organization, said it is against a recently proposed government ban on crypto, offering alternative solutions. Nasscom, a major Indain trade organization, has said that it is against a blanket ban on cryptocurrencies, which was recently proposed by a governmental panel in the country According to a report by local financial periodical The Economic Times on July 30, Nasscom commented: "Nasscom believes that the recent proposal of the inter-ministerial committee of the government to ban all cryptocurrencies barring those that are backed by the government, is not the most constructive measure. [...] Instead, the government should work towards developing a risk-based framework to regulate and monitor cryptocurrencies and tokens.” As per the report, Nasscom claims that crypto projects can always be tested in regulatory sandboxes prior to launch. Nasscom also reportedly believes that banning crypto will only serve to push away legitimate businesses who are a..
The crypto-sphere kick-started roughly ten years ago but the altcoin frenzy in 2017/2018 gave the industry extra exposure. An opportunity for companies to start launching tokens for everything possible without hassle came to light. All that was needed was a document and million’s worth of cryptocurrency will be raised through an initial coin offering. (ICO). Ethereum was the platform backing most of the token donation, and Ether (ETH), which is the native token of the Ethereum network, had a massive increment due to all the outbursts surrounding words like “ICO” and “smart contract.” Then like a sudden pause, everything stopped and prices started to drop. Ethereum News Update – Ethereum Latest Update – Bitcoin Price Prediction –ETH Value Forecast So Far The Ethereum price forecast shows the uptrend and downtrend of ETH prices over time. As of the middle of January 2018, the price hit an increase against the U.S. dollar, and according to Messari’s OnChainFX, ETH is presently down at 86..