US regulator charges Latvian man involved in $7M ICO scams

The U.S. Securities and Exchange Commission (SEC) has filed charges against a Latvian man accused of orchestrating two digital currency scams. The first related to a digital currency debit card while the second was a fake block reward mining project token sale. In a press release, the SEC revealed it had filed a civil complaint in the Eastern District of New York against Ivars Auzins. According to the regulator, Auzins allegedly defrauded hundreds of investors and took off with at least $7 million through two unregistered digital asset securities offerings.…

South Korean regulator wants ICO ban reversed

In September 2017, at the height of the initial coin offering (ICO) mania, South Korea’s financial regulator banned all token sales in the country, taking after neighboring China. Now, the watchdog wants this ban reversed and is calling for regulation in the sector. A local outlet Money Today report reveals that the Financial Services Commission (FSC) may be changing its stance on ICOs. The vice chairman of the FSC Do Gyu-sang argued that the country should reexamine its hardline stance against ICOs and, rather than impose a blanket ban, it should regulate them. Do…

15 Ways to Stay Sane While Trading Crypto

This is not a guide of how to trade crypto. This is not about how to make money, how to invest, or where to find alpha.  But if you’ve dabbled in crypto-trading? Then you know this one thing: It can be all-consuming. When your money is on the line, suddenly you’re checking the prices more than you check social media, you obsess about the charts, and even your dreams are filled with candlesticks and Elliot Waves.   Oh, and there’s never a break. Stock day-traders might be Red Bull-pounding stress-monsters from…

CoinDesk Takes Consensus 2020 Virtual

With the COVID-19 pandemic worsening throughout the world, CoinDesk is taking immediate action on Consensus 2020. As the organizers of Consensus and Blockchain Week NYC, our goal has always been to bring the community together to educate, grow, and create meaningful connections in a safe location. It is no longer possible to do that in a physical location.  Nonetheless, we are seizing an opportunity to make the most of this otherwise extremely difficult situation. Consensus 2020 will now be a completely virtual experience, where attendees from all over the world…

US Charges Dutch National With Running Crypto-Funded Child Porn Site

U.S. prosecutors indicated a Dutch national Thursday for allegedly spearheading a rape and child pornography website that’s made over $1.6 million worth of bitcoin selling videos since 2012. Known as “Michael R.M.,” and “Mr. Dark,” the man allegedly ran a site called “DarkScandals” that operated on the darknet, which requires special software to access, and on the public clearnet. He allegedly sold over 2,000 videos and had ties to 303 virtual currency accounts, according to a press release from the U.S. Attorney’s Office for the District of Columbia. Bitcoin (BTC)…

Down 26%: Bitcoin Sees Worst Sell-Off in 7 Years as Coronavirus Spurs Flight to Safety

Bitcoin (BTC) suffered its biggest drop in seven years, as fears over the spreading coronavirus triggered a new wave of selling in everything from stocks and junk bonds to cryptocurrencies. This came despite a new European Central Bank pledge to pump more cash into panicky markets.   Prices for the largest cryptocurrency by market value plunged 26 percent to $5,863 as of 13:54 UTC (9:54 a.m. Eastern time). The move wiped out bitcoin’s gains for the year, dropping prices to the lowest level since May 2019. At least for now, it…

New York Crypto Companies Move to ‘Work From Home’ in Face of Rising COVID-19 Threat

Kadena CEO Will Martino had already been considering abandoning his blockchain development company’s Brooklyn HQ before coronavirus came to New York City. The fast-spreading virus, however, recently convinced him the office had to go. On Feb. 21, he told his team to begin working from home. The New York Metropolitan area’s surging coronavirus count is forcing more of the region’s cryptocurrency and blockchain companies to prepare for an unsavory reality: Their offices may close without warning and their employees may need to begin working remotely. CDC officials say “social distancing”…

Crypto Scams Pose More Risk Than Payments Fraud, Report Suggests

Cryptocurrency scams in 2019 were more risky for U.S. residents than fraud involving romance or payments. That’s the conclusion of a report released last week by the Better Business Bureau (BBB), a nonprofit organization focused on marketplace trust. The report found an average dollar loss in crypto-focused fraud of $3,000 for victims aged between 25 and 44. The relatively high figure was the result of nefarious actors taking advantage of those who lacked foundational knowledge of digital assets, BBB said. Thirty-two percent of scams involved the exchange of cryptocurrencies for…