June 22, 2019 | AtoZ Markets - Facebook Libra coin may not be available in some areas of the world and the Russian crypto issuance is being expedited. Bitcoin price increase had reasons and regulators warn of more cryptocurrency fraud.
Those were the hot headlines the week has witnessed so far. Welcome to our AtoZ crypto weekly brief.
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.
Ignatov was accused of defrauding his victims of over $4 billion. However, he might well be released 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 authorised.
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, authorised firm.”, confirming 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, which turned out to be fraudulent, as per the FCA.
Bucketlist Traders does not hold a license from the FCA, as the latter confirmed.
Based in Manchester, the company provides currency trading services, as well as 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 and 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 Russia expedites its crypto
Staying with the Facebook Libra coin news, the latter was reported that it might not be available for all the cryptocurrency community at the time of release. However, Facebook Messenger, WhatsApp and a dedicated application for the Libra coin to be released later, were said to make up for the absence of the coin in where cryptocurrency is banned.
The long-awaited coin, which is also touted as Bitcoin rival, will not launch in India due to the ban the Reserve Bank of India (RBI) imposed on blockchain-based currency transactions, as reported earlier.
Unlike the Indian case, Russia was recently reported to have started studies for issuing its own cryptocurrency.
Expediting the issuance process comes as part of the long-term strategy the government considers for combating the US sanctions on the Russian economy.
With the news on the Russian cryptocurrency, 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.