Cryptocurrencies, led by Bitcoin, opened the week with losses due to a dearth of positive news.
In main news, China’s Bitcoin whale Li Xiaolai is reportedly planning an end to investing in future blockchain projects, citing dissatisfaction with fraudulent players. Elsewhere in China, a leading tech magazine added Bitcoin as a payment option to demonstrate the cryptocurrency’s feasibility.
Overall cryptocurrency market capitalization was $220.36 billion and the Bitcoin dominance rate was 51.6 percent as of 10.14 am ET on CoinMarketCap.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past few hours.
CFTC Charges Two Defendants For Attempts To Steal Bitcoin
The U.S. Commodity Futures Trading Commission (CFTC) has charged two defendants and filed a law suit against them for attempting to steal Bitcoin through fraudulent solicitation, impersonation of a CFTC investigator, and forging CFTC documents. The CFTC has filed a complaint in the U.S. District Court for the Northern District of Texas against Arlington, Texas-based Morgan Hunt of Diamonds Trading Investment House and Baltimore, Maryland-based Kim Hecroft of First Options Trading.
Marsh Expands Partnership With IBM To Provide Blockchain Proof Of Insurance
Insurance broking and risk management firm Marsh expanded its partnership with IBM to provide commercial proof of insurance blockchain solution to Marsh clients through the Salesforce.com customer relationship management platform. The use of blockchain solution will enable Marsh’s clients to obtain the certificate of insurance digitally and instantaneously to speed up necessary business functions such as hiring contractors.
India’s Zebpay Shuts Crypto Exchange
Zebpay, one of India’s largest crypto-currency exchanges, has announced that it has shut down its exchange activities Friday due to the crypto banking ban imposed by the Reserve Bank of India. Zeb IT Service Ltd, the operator of Zebpay, said the recent past has been extremely difficult due to regulatory and banking problems.
North Dakota Issues Cease And Desist Order Against Three ICOs
North Dakota Securities Commissioner has issued Cease and Desist Orders against three companies promoting unregistered and potentially fraudulent securities in North Dakota in the form of Initial Coin Offerings (ICOs). The companies involved are BitConnect and related companies BitConnect LTD and BitConnect International PLC; Magma Foundation and related companies Magma Coin and Magma; and Pension Rewards Platform.
As of 10.15 am ET, Bitcoin was down 1.76 percent at $6,495.40 and Ethereum was lower by 4.52 percent at $224.65 on Coinbase.
by Jyotsna V