China’s Central Bank Focuses on Development of Its Own Virtual Currency

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China’s Central Bank Focuses on Development of Its Own Virtual Currency
China’s Central Bank now wants to develop a virtual currency to compete with the recently unveiled Facebook’s Libra aiming to gain the lead in the development of the cryptocurrency and blockchain technologies.
China’s Central Bank Focuses on Development of Its Own Virtual Currency

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Source: CoinSpeaker

Zambian SEC Warns Investors About Scam Cryptocurrency Investments

The Securities and Exchange Commission of Zambia has issued a caution to the public to beware of scammers operating cryptocurrency investment advice services. The financial regulators received information about a company called KWAKOO that was pushing an initial coin offering with dubious future price predictions.
The nation’s SEC has stated that the firm is not registered with it and is therefore not qualified to give financial advice about securities. It reminds the public that only companies approved by the regulator may issue such investment advice.
Cryptocurrency Investment Advisers In Breach of Zambian Securities Act
The Zambian SEC has stated that KWAKOO’s promotion of the initial coin offering for the cryptocurrency Onxycoin was in violation of the Securities Act, No. 41 of 2016. According to a report in domestic news publication Lusaka Times, the company was advising clients to invest in various Onxycoin packages.
Those behind KWAKOO are believed to have told would-be investors to expect gains of 1,000 percent by June 2021. The head of the regulatory body, Philip Chitalu, told the publication that any person promoting or providing investment advice for assets deemed as securities must either be registered with the SEC or be exempt from the law as per the Securities Act.
Chitalu went on to state that the kind of presentations and advice provided by KWAKOO qualify as investment advice under the nation’s financial regulations. He added that since KWAKOO was not registered with the SEC, it fell foul of the Securities Act and was thus acting unlawfully in promoting the Onxycoin cryptocurrency.
Finally, Chitalu stated that SEC’s role was to protect investors from dubious claims such as those made by KWAKOO.
KWAKOO and Onxycoin themselves are closely tied. The CEO and founder, apparently Sir Anthony Saint according to Onxycoin’s Facebook page, posts many of the updates about the cryptocurrency on the social media site. However, that’s not all about Onxycoin that sounds more than a little dubious.

The project’s website is completely focused on how Onxycoin holders can make returns on their investments. There is little information about what makes the coin different from the thousands of other cryptocurrencies out there other than perks for investing early.
In terms of an overall project description the website’s landing page offers only:

“OnyxCoin is one of the most transformative technologies since the invention of the Internet. OnyxCoin stands firmly in support of financial freedom and the liberty that Bitcoin provides globally for anyone to voluntarily participate in a permissionless and decentralized network.”

The real red flag, however, is the referral bonus. An absolute hallmark of a classic ponzi scheme:

“OnyxCoin Affiliate program was structured provide value to all those who participate in our Public Sale. 35% of the money collected through our OnyxCoin Public Sale will be paid back to investors through our Referral and Binary Earnings. By leveraging your networks, you can get instant earnings with our platform.”

Related Reading: Is Largely Unbanked Africa Primed for Bitcoin Adoption?
Featured Image from Shutterstock.

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SEC Clears Blockchain Gaming Startup Pocketful of Quarters to Issue ‘Quarters’ Token

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SEC Clears Blockchain Gaming Startup Pocketful of Quarters to Issue ‘Quarters’ Token
The U.S. Securities and Exchange Commission (SEC) has approved the first-ever Ethereum token sale from blockchain-based gaming startup Pocketful of Quarters (PoQ).
SEC Clears Blockchain Gaming Startup Pocketful of Quarters to Issue ‘Quarters’ Token

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Source: CoinSpeaker

IEO: the Replacement for ICO Raised a Total of 262 Million in 2019

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IEO: the Replacement for ICO Raised a Total of 262 Million in 2019
Though only half of the projects that participated in IEO in 2019 were profitable, the research indicates that the cumulative returns to be garnered over the span of 6 months could amount to 44% ROI.
IEO: the Replacement for ICO Raised a Total of 262 Million in 2019

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Source: CoinSpeaker

Tips to Maximize Returns from Cryptocurrency Investments

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Tips to Maximize Returns from Cryptocurrency Investments
Check out a number of things you can do to mitigate the risks and increase your profits from cryptocurrency investments.
Tips to Maximize Returns from Cryptocurrency Investments

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Source: CoinSpeaker

France’s Autorité des marchés financiers gives green signal for ICOs

Recently, Malta and Belarus accepted and legalized ICOs. It now seems that France will be joining the bandwagon too. According to reports, the French government is exploring the realms of ICO and other related services in the country. France’s Autorité des marchés financiers is now prepared to license crypto-firms to raise initial coin offerings. However, […]
The post France’s Autorité des marchés financiers gives green signal for ICOs appeared first on AMBCrypto.
Source: AMB Crypto

Crypto Exchange CoinFLEX to Launch Its First Initial Futures Offering for Polkadot’s DOT Tokens

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Crypto Exchange CoinFLEX to Launch Its First Initial Futures Offering for Polkadot’s DOT Tokens
This will be for the first time that any crypto platform is launching futures contracts for pre-launched assets. Each DOT token is available at $75 and can be purchased using CoinFLEX’s native FLEX tokens.
Crypto Exchange CoinFLEX to Launch Its First Initial Futures Offering for Polkadot’s DOT Tokens

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Source: CoinSpeaker

How to Run a Successful Security Token Offering in Compliance with New SEC Guidance

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How to Run a Successful Security Token Offering in Compliance with New SEC Guidance
With this tremendous growth and the widespread availability of crypto technology, STOs may soon be a viable way for most companies to raise revenue. However, some aspects of the STO bear a bit of explaining beforehand.
How to Run a Successful Security Token Offering in Compliance with New SEC Guidance

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Source: CoinSpeaker

For the First Time Ever SEC Approves Blockstack Token Sale Under Regulation A+

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For the First Time Ever SEC Approves Blockstack Token Sale Under Regulation A+
SEC, for the first time ever, approved a $28 million Reg A+ offering for decentralized Internet company Blockstack. The company will begin selling the SEC-approved tokens, essentially an investment vehicle for fundraising, as of today.
For the First Time Ever SEC Approves Blockstack Token Sale Under Regulation A+

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Source: CoinSpeaker

Maxonrow Joins the Blossoming Blockchain Industry in Kuala Lumpur and Taipei

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Maxonrow Joins the Blossoming Blockchain Industry in Kuala Lumpur and Taipei
One of the emerging blockchain firms in the space, Maxonrow, views the growth of blockchain in Southeast Asia as an opportunity to set a precedent of cooperation between government agencies and blockchain enterprises.
Maxonrow Joins the Blossoming Blockchain Industry in Kuala Lumpur and Taipei

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Source: CoinSpeaker

A Second Chance With Ethereum For Those That Missed the Bitcoin Boat

There is no stopping Bitcoin at the moment as the king of crypto keeps heading skywards. As BTC touched $13,000 today many are asking ‘am I too late to get in’. The long term answer is clearly a no, but there are still good gains to be made on Ethereum if it repeats the performance from 2017.
Ethereum Still Undervalued
Bitcoin may well be up 240 percent this year and hitting new highs every day this week but all is not lost for those that think they have missed the boat. Corrections will happen, they always do, but many are now claiming that there will no longer be any four digit Bitcoin available to buy.
Looking at the second largest crypto asset on the market shows that it is still massively undervalued, especially when compared to its bigger brother. Bitcoin is now less than 40 percent down from its peak whereas Ethereum is still over 75 percent away from its giddy height of $1,400 back in January last year.
Today ETH has managed to ride the coattails of BTC pulling in another 7 percent to reach $335. As noted by ‘CryptoFibonacci’ ETH could be approaching resistance again now.

#ETH Daily Chart.
Testing major resistance.#ETH pic.twitter.com/SQX93QDJ4V
— CryptoFibonacci (@CryptoFib) June 26, 2019

Ethereum gains in recent months have been sluggish in comparison. Granted, ETH is up 150 percent since the beginning of the year but it did get battered over 90 percent from ATH.
Crypto twitter commentator ‘Bleeding Crypto’ has also observed this:
“IF missed the BTC run. You HAVE A SECOND CHANCE with ETH. Look at the historical Screen shots and see for yourself that ETH has outperformed BTC in ROI year after year. Unless you want to listen to those ignorant ***** that say ETH is dead. R U going to blow it with ETH too?”

IF missed the BTC run. You HAVE A SECOND CHANCE with ETH. Look at the historical Screen shots and see for yourself that ETH has out performed BTC in ROI year after year. Unless you want to listen to those ignorant fucks that say ETH is dead. R U going to blow it with ETH too? pic.twitter.com/t3hYnvW9ee
— Bleeding Crypto (@Bleeding_Crypto) June 26, 2019

Last year Ethereum shot from current prices in mid-November to top $1,400 just two months later. That is a gain of 325 percent in just a few weeks. Of course, there is no ICO boom this time around and Ethereum has been lacking fundamental momentum with Serenity delays, but the ecosystem still has huge potential for even bigger gains.
What About Other Altcoins?
Ethereum is not the only undervalued altcoin. Those Bitcoin maximalists on CT will be partying right now but if a repeat of 2017 is on the cards, altseason could be just around the corner. Many are way down, over 80 percent from their peaks, so potential for gains will be greater when funds start shifting into altcoins.
Total market capitalization hit $365 billion today, but Bitcoin holds $225 billion of it alone. It is only a matter of time before the ratio adjusts and Ethereum is likely to lead the way when it does.
Image from Shutterstock
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Central Bank of Russia will Hold Bitcoin [BTC] Reserves Predicts Analyst

Reportedly, Russian lawmakers, the State Duma is expected to finalize a bill on Digital Financial Assets within two weeks. They have already held discussions on the bill once and seem to have received positive votes from the house. Deputy Finance Minister of Russia, Alexei Moiseyev said,
“Now we are looking at the text [of the bill on digital financial assets] and within two weeks, I hope, we will come out for adoption in the second reading,”
As reported earlier on Coingape, the Russia Federation had passed a bill on digital currencies which introduced as a series of norms for the citizens to follow.
Currently, they are working on implementing the complete set of laws around cryptocurrencies and ICOs. Russia might be one of the few nations to allow ICOs under its crowdfunding laws. Moiseyev also added,
“Within the framework of this concept, ICO regulation was approved. second reading, “
Also Read: Report Reveals How Russian Operators Used Bitcoin to Interfere 2016 US Presidential Election
The Regulatory Environment in Russia around cryptocurrencies and Bitcoin has been quite receptive compared to other nations. France also keeps a neutral attitude towards cryptocurrencies and ICOs. US, India, China and many other nations are against ICOs as they are either Ponzi schemes or based on wrong fundamentals of being a security or a cryptocurrency. However, Russia has planned to allow them unobstructedly.
A country which promotes a range of cryptocurrencies and blockchain projects can soon be expected to be inclined to hold Bitcoin [BTC]. Mati Greenspan, the Senior Market Analyst at eToro noted,
“The CBR [Central Bank of Russia] will be holding BTC reserves within 2 years. Mark my words.”
Currently, Russia holds 4554 billion US Dollars in Central Bank Reserve. If Greenspan’s prediction holds true and Russia assigns even 1% of its reserve value to Bitcoin [BTC], it’s market capitalization would increase by $45.5 billion.
Do you agree with Greenspan’s views given the current regulatory environment in Russia? Please share your views with us. 
The post Central Bank of Russia will Hold Bitcoin [BTC] Reserves Predicts Analyst appeared first on Coingape.
Source: CoinGape

Crypto Analyst: IEO Tokens Matic, Harmony One, More to Bring 1000x Returns to Holders

Upon any visit to crypto Twitter or any online cryptocurrency community for that matter, and you’ll be hard pressed to avoid over the top shilling of the recent IEO tokens, notably the Binance Launchpad-born tokens, Harmony One, Celr, Fetch, BitTorrent Token, and the Coinbase Ventures-backed Matic.
While the shilling may be relentless, the incessant mentions of these tokens could be other crypto traders doing the community a solid. A common thread throughout the crypto space is that these hot and hyped, shiny new tokens have serious momentum behind them, and have never experienced a bull market before.
Matic, Fetch, Celr, BitTorrent, Harmony One: IEO Coins Could 1000x
During the 2017 crypto bull run, there were two major factors in capturing the mainstream media and public’s attention: Bitcoin and its meteoric rise to its all-time high of $20,000, and the initial coin offering craze that allowed eager crypto investors to get in on the ground floor of a blockchain or crypto startup, and often led to enormous gains. But that bubble popped, and ICOs quickly found themselves in the crosshairs of the United States Securities and Exchange Commission and those that launched the popular crowdfunding efforts are being accused of unlawfully offering unregistered securities.
Related Reading | Matic Moons on Binance Launchpad Endorsement 
Now, as a new bull market begins to take shape, crypto analysts are expecting tokens born from a new crypto crowdfunding trend called the IEO – the initial exchange offering – to replace the ICO explosion, and the early coins birthed by such a format could bring crypto investors who buy and hold the new assets as much as “1000x” returns in future.

I haven’t said anything so far about$ONE$MATIC$BTT$CELR$FET
But if the past ICO pattern repeats, some of the new IEO coins may deliver 100-1000x returns from IEO price/lows with Buy & Hold approach
Does any of them have a potential & Why?#Bitcoin #Crypto #IEO REPOSTING
— Trading Room (@tradingroomapp) June 11, 2019

According to one crypto analyst, these IEO tokens, namely the Binance Launchpad tokens, are primed and ready to become the top performers during the next crypto bull run that is starting to take shape. The bullish analyst believes that these IEO tokens could repeat the pattern of the ICO boom, and “may deliver 100-1000x returns” with a buy and hold strategy.
This means that simply buying an IEO early enough, could bring investors 1000x returns without having to make any additional trades.
Price Discovery and Lack of Resistance Can Send New and Hyped Crypto Prices Sky High
It’s not just IEO tokens like Matic and Harmony One that are being positioned by leading crypto analysts as the next bull run’s top performers.
Like IEO tokens, some other, newer cryptocurrencies are garnering far more hype than any of the tokens from previous market cycles, except for maybe Litecoin, which has outperformed the rest of the space.
Other crypto coins with serious hype, are Ravencoin, Holochain, Tezos, Cosmos, and a select few others that have yet to experience a full-blown bull run. These tokens have also performed relatively well throughout the bear market.

Part of the reason for these tokens to surge so strongly, is due to the lack of the assets ever going through price discovery, and the lack of overhead resistance between current prices and the moon. But beyond these technical reasons, each of the IEO projects is also fundamentally sound, and has already received the support of the crypto exchange they were launched on.
Related Reading | Ravencoin, HoloChain, and Binance IEO Altcoins Expected To Skyrocket Next Bull Run
In a market driven on pure speculation, the most hyped coins often perform the best regardless of use case, price, ROI, and more. Such hype  could cause investors to FOMO hard into these shiny new tokens and cause them to 1000x as analysts suggest.
The post Crypto Analyst: IEO Tokens Matic, Harmony One, More to Bring 1000x Returns to Holders appeared first on NewsBTC.
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Bitfinex And Okex to Cooperatively Promote their IEOs And Stablecoins

The cryptocurrency markets have seen a lot of changes since the inception of Bitcoin in 2008. Initially, duplicates of Bitcoin were created, then an era of smart contract platforms unleashed a whole new space for Initial Coin Offering. Numerous offerings were issued during late 2016 and 2017, which was part of the reason for the bubble formation in 2017.
However, the SEC in the US and other regulators over the world started to crack-down on the process to curb this dubious crowdfunding process. Nevertheless, start-ups have found a new way of raising money on the blockchain – Initial Exchange Offerings. Earlier, the new ICOs had to pay a listing fee to get listed on Exchanges. Now, they are released on specific Exchanges itself.
Also Read: SEC Vs. Kik: #DefendCrypto Campaign Raises $4 Million for the Most Iconic Crypto-Case
How Exchanges are Planning to Increase their IEO Business
More than 150 IEOs have released or due for release in 2019. The Exchanges have helped the teams raise to $1 billion through the IEOs. To further increase business, Exchanges like Bitfinex and Okex have started cross-listing their IEOs.
While Okex included LEO, (tweet)
UNUS SED LEO (LEO), the native @bitfinex token, is now listed on OKEx. Please take note of the go-live schedule: bit.ly/2X5dRLa
Bitfinex added the IEO and the stablecoin released by the sister firm of OKex as well. (tweet)
“OKB and USDK are making their way to Bitfinex! Trading for both assets will go live on Thursday, June 13th, at 10.00 AM UTC.”
Also Read: Will ICO Be Replaced By IEO? | How IEOs Are Revamping the Industry
Binance Coin [BNB] is also currently listed only on the Binance Exchange. Hence, if another popular Exchange decides to register BNB, the volume and price are expected to increase significantly.
Stablecoins Galore As Well
The ICOs are primarily driven by the initial speculative demand, which is similar to ICOs. Moreover, the inclusion of stablecoin on Bitfinex benefits USDK as Dovey Wan mentioned,
the cross-listing of $OKB and $LEO is trading favor between OK and BFX, but the actual winner is $USDK, the newly issued stablecoin by OK The only metric for fiat coin’s success is market cap IMO, not how “stable” it is. fiat coin is a proxy for fiat on-ramp, for trading utility
The market capitalization of Stablecoins like USD-Circle and True-USD have increased considerably with their presence of Exchanges like Coinbase, Bittrex, and other OTC desks as well.
Do you think that strict regulations must be imposed on Exchanges offering IEOs? Please share your views with us. 
The post Bitfinex And Okex to Cooperatively Promote their IEOs And Stablecoins appeared first on Coingape.
Source: CoinGape

Ripple Acquiring MoneyGram Was Fake News But It Gave XRP Price the Boost

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Ripple Acquiring MoneyGram Was Fake News But It Gave XRP Price the Boost
After a rumor broke out yesterday that a California-based crypto start-up Ripple has acquired the major US-based money transfer company MoneyGram, both companies refused to comment. Still, even the rumor was enough for XRP price 8% boost.
Ripple Acquiring MoneyGram Was Fake News But It Gave XRP Price the Boost

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Source: CoinSpeaker