Facebook Libra coin may not be available in some areas of the world. And the Russian crypto issuance is expediting. Bitcoin price increase had reasons, and regulators warn of more cryptocurrency fraud. Those were the hot headlines. The week had witnessed so far. Welcome to our AtoZ crypto weekly brief.
The article was updated on 19 November, 2019 by Amicus.
22 June, 2019 | AtoZ Markets – We take off from the OneCoin Ponzi scheme, which stormed into the cryptocurrency community recently, where Konstantin Ignatov, who was arrested in the US for fraud charges, is now awaiting a “bail trial” as per resources. Authority accused Ignatov of defrauding his victims of over $4 billion. However, he might well be free under a bail guarantee, as AtoZ Markets detailed.
More clone crypto firms come down the road!
More scam in the cryptocurrency and forex trading avenue float on the surface, as update their warning lists. The UK Financial Conduct Authority said On Wednesday, 19 June, that CWG Markets forex broker is not authorized.
The warning read that CWG Markets forex broker is a clone of another FCA-Regulated firm. “To try to convince people that they work for a genuine, authorized firm.” It confirmed that the clone firm referred to above has no association with the FCA registered firm CWG Markets LTD. In a similar context, the same regulator also warned against a website dedicated to forex education. That turned out to be fraudulent, as per the FCA.
Bucketlist Traders does not hold a license from the FCA. The latter confirmed that. Based in Manchester, the company provides currency trading services, selling education courses, seminars, and trading signals to retailers.
Ripple and Bitcoin prices increased for this
As Ripple announced its strategic partnership with cross-border money mover MoneyGram, XRP surged by around 10%. The San Francisco-based startup announced mid-week that it had invested $30 million in the global money transfer company MoneyGram, the news that caused the price of the currency to jump, as AtoZ Markets reported. On the other hand, Ripple’s parent cryptocurrency, Bitcoin, witnessed a boost in price this week as protests broke out in Hong Kong, as analyses read.
The protests came against the background of the bill that the “chief executive” of the island city, Carrie Lam, brought forward, which, if implemented, would allow for those suspected of crimes to be seized. They then extradited from Hong Kong to offshore, precisely, to Taiwan, Macau, and mainland China. Speaking of Bitcoin, do not miss reading AtoZ Markets’ article for the mid-week break, which tells the differences between Bitcoin and Facebook Libra.
Facebook Libra coin is not for all users and Russian crypto issuance
Staying with the Facebook Libra coin news, the latter reported that it might not available for all the cryptocurrency community at the time of release. However, Facebook Messenger, WhatsApp, and a dedicated application for the Libra coin. Those were to make up for the absence of the coin.
The long-awaited coin also touted as a Bitcoin rival. However, it will not launch in India due to the ban on the Reserve Bank of India (RBI). That also imposed on blockchain-based currency transactions, as reported earlier.
Unlike the Indian case, Russia recently reported to have started studies for issuing its cryptocurrency. Expediting the issuance process comes as part of the long-term strategy. The government also considers combating the US sanctions on the Russian economy.
With the news, we have come to an end in our crypto tour for this week. Stay tuned to know all the updates about cryptocurrency and forex trading, on your website AtoZ Markets, until our appointment renews again next week.
Think we missed something? Let us know in the comments section below.