GECKO Governance Launches Compliance Solution For ICO Market Following Approval by Isle of Man Regulator

    Former SEC Senior Compliance Examiner joins stellar advisory board     Dublin, Ireland – 12 June 2018 – GECKO Governance, the multi-award winning RegTech regulatory solution for financial compliance, has announced the launch of a new compliance solution, GECKO Crypto1, following approval by the Isle of Man Financial Services Authority. Managing ICO governance and compliance for every jurisdiction, GECKO Crypto1 will offer enhanced levels of transparency and accountability to platform-users within the blockchain industry. The platform provider also announced today that Dan Viola, former Senior Compliance Examiner at…

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Will there be SEC approved Bitcoin ETF’s soon?

Exchange Traded Funds, also known as ETF’s, have made headlines in the past couple of years.  The prospect of cryptocurrency ETF’s listed on stock exchanges first started with Gemini and the Winklevoss twins.  The Winklevoss Bitcoin Trust was the first Bitcoin ETF to be filed with the SEC – Securities and Exchange Commission in 2013.  In early 2014, the Bitcoin Investment Trust announced plans to release an over-the-counter Bitcoin ETF.     Unfortunately, the SEC denied a request to list an ETF from investors Cameron and Tyler Winklevoss, owners of…

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Unified Global Cryptocurrency Regulation called for by G20

Last year, 2017, was most certainly the year of the ICO, and 2018 could prove to be the year of regulation.  At the G20 meeting of finance ministers in Buenos Aires, it was agreed by the member nations that more information on cryptocurrencies needs to be gathered and examined.  However, countries do see cryptocurrency as an asset, not a currency.     As cryptocurrency fever takes hold of the world, regulators in various countries are making their positions known.  In the USA, the Securities and Exchange Commission (SEC) has issued…

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What are the ICO Cryptocurrency Regulatory Guidelines?

ICO’s continue to boom as more tokens and coins are evident.  On coinmarketcap, over 1500 cryptocurrencies are listed and most trading on various exchanges. According to Fortune, nearly 50 percent of 2017’s Cryptocurrency ‘ICO’ Projects have already died. They report that “as many as 75% of all startups backed by traditional venture funding fail, and 30 to 40% of those take all of investors’ capital with them.”     With the high ICO failure rate and the craziness of Bitcoin investors, regulators are setting guidelines or passing laws.  Here is…

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Cloud Mining Service Genesis Mining ordered to stop operations

The Securities Commission of South Carolina has ordered Genesis and a second firm, Swiss Gold Global Inc., to stop doing business in South Carolina, according to the Cease-and-Desist order document released on 9 March 2018.     The order states that mining contracts sold to buyers and state of South Carolina residents are considered as securities.  The two companies, Genesis and Swiss Gold Global have also been barred from offering any securities in the state in the future. This barring, according to the document, is permanent.   Cloud Mining businesses…

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Find Bitcoin, Cryptocurrency, Initial Coin Offering and Blockchain in the Dictionary

  An event in October 2008 was the start of a new technology that would disrupt our lives forever. Firstly, what does “disruptive technology” actually mean.  A disruptive technology displaces an established technology, a trailblazing product that shakes up an industry.  Disruptive technology creates an entirely new economy.     This is exactly what Bitcoin and the underlying technology, blockchain, has done.  Bitcoin’s whitepaper was released to the world by Satoshi Nakamoto on 31 October 2008 unleashing disruption to the financial industry, leading the way for more cryptocurrencies to be…

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How to find the best Bitcoin Trading Platform or Exchange

Exchanges are often in the news, either due to listing of new crypto / ICO token; customer service issues or loss of crypto due to hacking.     There have been numerous exchange hacks in the lifetime of Bitcoin with the most famous one being Tokyo based Mt.Gox where approximately 850,000 bitcoins belonging to customers and the company were missing and likely stolen from their hot wallet.  Hot wallets are connected to the internet and as a result, vulnerable to hacking. This was an amount valued at more than $450…

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Bank of America says Bitcoin is a business risk and competitive threat

According to public records, Bank of America has cited cryptocurrency as a material risk to its business and that the technology could hamper the second-largest U.S. bank’s ability to comply with anti-money-laundering regulations, pose a competitive threat and increase cost. This was according to the bank’s annual filing with the Securities and Exchange Commission.     Bank of America specifically mentioned “Cryptocurrency” in the section on risk factors.   The first reference is in the discussion of AML, know-your-customer, sanctions and foreign corruption laws in the U.S.   “Emerging technologies,…

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Will Regulators and Banks kill Bitcoin?

2018 has not started well for Bitcoin as the cryptocurrency started the year with 2 weeks of losses and last week we had four days of straight losses from Monday to Thursday.     Shock News for Bitcoin Banking   The year started off with a shock as Visa suspended a number of prominent cryptocurrency card providers without any notice, leaving some customers without cash. Some of the well-known companies affected were Cryptopay, Bitwala, Xapo, Bitstamp and many others. Bitwala also reported that their bank facilities were suspended with immediate…

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ICO – The Restis Law Firm And Lite DePalma Greenberg File Class Action Challenging The Tezos Initial Coin Offering

SAN DIEGO, Nov. 26, 2017 /PRNewswire/ — The Restis Law Firm, P.C. and Lite DePalma Greenberg LLC(“Restis Law Firm” and Lite DePalma”) today announced that a class action has been commenced on behalf of United States persons and entities that contributed bitcoin and/or ethereum to the Tezos Initial Coin Offering (“ICO”). This action was filed in the Northern District of California and is captioned GGCC, LLC v. Dynamic Ledger Solutions. Inc. et al., No. 5:17-cv-06779 (https://restislaw.com/current-cases-investigations/tezos-initial-coin-offering/)   If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from November 26, 2017. If you wish…

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