Louis Ong has been sentenced to the U.S. jail for twenty days for carrying out unauthorized crypto trade activities. It is reported that he has laundered about $290,000 by making three more illegal bitcoin trades through undercover agents. It is found that the accused never intended to know the source through which his clients made money.
Openbazaar has unveiled the peer-to-peer e-commerce platform, 2.20 version trading platform. The platform is fully decentralized and offers fee-free trade service to 44 different cryptocurrencies. Openbazaar spokesperson commented, “The biggest new feature is the ability to buy and sell cryptocurrencies. Vendors are now able to use a special new listing type to sell cryptocurrencies on Openbazaar.”
Germany’s second-largest stock exchange, Börse Stuttgart has declared to offer crypto trade services through Bison application extending support for four cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple. Aiming to go live by in the month of September via Bison crypto trade application, the company announces a contest to win three bitcoins.
A data analysis software developer and vendor, Kx System has begun to support cryptocurrency trading to its white label forex trading platform. At the early stage of the implementation, five major cryptocurrencies are offered on the platform such as bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple and more tokens are expected to be available in the future.
The Texas State Securities regulators are protecting the public fraudulent crypto sites promising a high return on investment with no risk. Recently an emergency cease-and-desist order has been issued by the regulators against the local crypto trading platform, Wind Wide Coin for alleged fraud and operating without licenses to sell securities.
Robinhood, a cryptocurrency trading app which allows its users to experience commission-free trading has expanded the services to another U.S state, Utah. Robinhood began to extend its cryptocurrency app services to only five states – California, Massachusetts, Missouri, Montana, New Hampshire and then added new states which are New Mexico and Wisconsin.
Localbitcoins has recently made an announcement to its user regarding their new terms of conditions which only allowed one user to hold one account in their Bitcoin trading platform starting May 26th. The notice release by Localbitcoins mentioned, “If you’ve lost all access to your account we will ask you to complete ID verification as part of the account recovery process.’
The banning towards cryptocurrency related activities with the local bank in Pakistan has turned out to be ineffective as the local cryptocurrency are seeking the alternative ways of purchasing or selling cryptocurrencies in the country. A local trader named Majid Ali commented, “The government of Pakistan can’t stop the trade in an international commodity that is accepted in other countries.”
The Reserve Bank of Zimbabwe (RBZ) has imposed an order over the banks and financial institutions in the country to prohibit dealing in cryptocurrencies. The banks were ordered to curtail their services extended to cryptocurrency exchanges within sixty days. Acceptance of cryptos as collaterals and any services relating to the virtual currencies are also barred.
Robinhood, investment application, has raised $363 million through the Series D funding round. The company has recently unveiled a commission-free crypto trading platform. The raised funds are to be used for recruiting more professionals since the company plans to extend the crypto trading service to other U.S. states. The platform currently supports sixteen cryptocurrencies.