Politicians in Nigeria look positive at cryptos, and Ripple jumps high in Q2. Know the latest unlicensed bitcoin exchange detected in the U.S, and why was Roger Ver denied a visa to Australia?
Welcome to the AtoZ weekly crypto overview.
July 27, 2019 | AtoZ Markets - Before taking off, I have a chatter about AFX Capital Markets, which I would like to start with. The Cyprus Securities and Exchange Commission (CySEC) was said this week to have suspended the licence of the forex firm AFX Capital Markets LTD.
The regulator notes that the decision came “pursuant to section 71(6)(c) of Τhe Investment Services and Activities and Regulated Markets Law of 2017 (‘ the Law’) and section 10(1) of Directive DI87-05 for The Withdrawal and Suspension of Authorisation (‘DI87-05’), as there are suspicions of an alleged violation of section 22(1) of the Law due to the Company’s possible non-compliance at all times with the authorisation condition in section 17(9) (organizational requirements) of the Law, as specified in paragraphs 4, 6 and 9 of Directive DI87-01, regarding the safeguard of clients’ funds.” As published on CySEC’s website.
Nigeria is smiling to cryptos nowadays!
I am telling you this, because what I had had mid this week was that the spokesperson of Nigerian House of Representatives, Femi Gbajabiamila, called for adopting a legal framework for regulating cryptocurrencies.
Gbajabiamila requested On July 23 that his government starts formulating regulatory guide for digital assets, to benefit from this new digital currency that is being more adopted today, saying:
“On the issue of cryptocurrency, I think blockchain technology is novel and coming up strong. We don’t want to be left behind. [...] I think the world is taking the issue of cryptocurrency and block-chain technology seriously. We don’t want to be left behind, and we have to take it seriously.”
QuickBit confirms user data exposure
Yes, they now share that publicly and the news is no longer a mere rumor!
What I learned was that database issues at the Swedish digital currency exchange QuickBit resulted in a breach of sensitive user data.
Up until the exchange’s announcement, what was affected the exposure at the time were names, addresses, email addresses and card information that accounted for 2% of the total number of clientele on the exchange. However, the bright side here says that customers’ more sensitive data, such as passwords or social security numbers, complete account or credit card information, cryptocurrency or private keys, or financial transactions were all still protected and not revealed.
Not for the first time…
Roger Ver denied entry visa to a foreign country!
After the U.S did once, Australia denies Roger Ver a tourist visa to attend the Bitcoin Cash City conference that is scheduled to take place in the country soon.
Ver tweeted that concerns of him staying in the Australia stood behind the negative decision for his tourist visa application to Australia, as the country’s embassy in Japan explained in its answer.
Roger whispered that here therefore would not be able to attend the conference, forwarding the blame to the “embassy workers @AustralianJPN” per his description.
Fine on an owner of an unlicensed bitcoin-to-fiat exchange in the U.S
US Department of Justice has caught a bitcoin exchange that had been operating without a licence.
William Green has been charged for operating an unlicensed money transfer business, for which he was fined and a $250,000 fine, in addition to the probability of being imprisoned 5 years, as the charge legally carries.
Away from news, we also published mid this week an analysis under the title “what scares the world of cryptocurrencies?”
In the article, I detailed many points at which global concerns intersect, in addition to the foundation of cryptocurrencies, their mechanism, and where they are today.
Ripple sales increase by 48% and its institutional buys spike too
Reporting its performance for the second quarter of 2019, Ripple has unveiled that the currency’s sales have increased in quarter mentioned to 48% from where they were in Q1.
Furthermore, the company says its institutional customers also increased, amid news of a new policy the company intends to follow soon, in which it intends to pull back from certain exchange markets in pursuits to target where liquidity is most needed, that thing that their business pace recently, may negatively impact institutional direct sales.
The crypto was hailed much in the beginning of Q2, in synchronization with NASDAQ adding Ripple XRP index after listing BTC and ETH.