A press release shared today from Solidus Labs shows that $3 million was raised to fight crypto market manipulation by the trade surveillance team of the company whose team consists former Goldman Sachs engineers and we are explaining some more in the latest crypto news today.
The company report aims to help crypto service providers and traditional ones as well to be compliant while trading with digital assets.
In the latest funding round that was led by an Israeli venture-capital firm named Hanaco Ventures, the team aims to develop the crypto market surveillance tools and the way exchanges interact with crypto assets. After implementing artificial intelligence and other machine learning technologies, Solidus can track trading patterns and can detect anomalies in real time.
Solidus Labs’ software has managed to reduce the trading manipulation by nearly 30 percent which led to improving the manipulation detection techniques. Back in December, the Social Science Research Network revealed that there are hundreds of pump-and-dump trading individuals or groups that join popular messaging apps and the platform identified about 4,818 attempts between January and July in 2018.
Also recently, a United States Commodity Futures Trading Commissioner argued against the decision of the Securities and Exchange Commission to reject Bitcoin exchange-traded fund (ETF) because the crypto manipulation should not be considered as a barrier to the decision. He continued to elaborate that any product that has enough resources can be manipulated. Any product based on an index than a commodity could turn up to be used as a potential market manipulation tool according to the commissioner.
Zimbabwe Stock Exchange Interested In Adopting Blockchain Technology
“Then there is the money side to blockchain technology. This is a bit difficult, in terms of regulation, we are not yet clear on this and we do not want to do something where regulation is not clear as an exchange. But the technology side is very good," the chief executive of Zimbabwe Stock Exchange said.Right now, the regulatory certainty in the crypto space is pursued in several jurisdictions. As per the newly reintroduced Token Taxonomy Act (TTA) in the United States, regulatory certainty for crypto needs to be carried out by introducing uniform definitions and reclassifying it. In a related interview, the Central Dipository and Settlement corporation (CDSC) Kenya CEO Mrs. Rose Mlambo spoke confidently about blockchain which is somehow linked to ZSE and its interest. She said:
“Blockchain is the next big step in technology on our capital markets as Africa. It is good and enhances the security of your investment, every time you do a transaction it is recorded everywhere and cannot be altered at any stage. This is what investors want to boost their confidence,” she said.As many best cryptocurrency news sites report, the Zimbabwe Stock Exchange is considering blockchain-based services and products in real estate investment trust securities, mineral commodities exchange and exchange-traded funds. Meanwhile, Zimbabwe is known economically for the collapse of its national fiat currency back in 2015. Ever since then, the country has been in the focus of many blockchain-based currency proposals and activity. One paper has argued that the country is an ideal environment for Bitcoin firms and many blockchain projects. In 2017, the Reserve Bank of Zimbabwe (RBZ) - which is the country's central bank - touched the topic of crypto regulation and officially announced that Bitcoin is illegal in the country. That said, the RBZ Director and Registrar Norman Mataruka commented that the bank had begun investigating the risks of cryptocurrency and that it would need to create a new regulatory framework for digital assets before they could legalize cryptocurrencies.
Crypto Project OneCoin Denies Being A Ponzi Scheme
“By accepting the contract, the user becomes an independent, self-employed business owner. Let it be clear that neither OneCoin nor OneLife companies have organization, representation or employees in Samoa and New Zealand. No one has the authority to act or make statements on the company’s behalf in Samoa and New Zealand.”As it was previously reported in May this year, the former investor in the OneCoin company Christine Grablis is now suing the company for Fraud. Christine made clear that she will be seeking damages and will pursue a class action suit. She also aims to represent all of the investors that were reportedly defrauded by the crypto project-OneCoin.
Sberbank Bank In Russia Demands Income Data From Cryptocurrency By Client
“We are very much perturbed by how the Sberbank bank can appeal to terms that do not yet exist in Russian law.”The CEO of the decentralized exchange Tokenomica Artem Tolkachev also responded to this request saying that Sberbank ‘’operate within their regulatory framework for handling cash. So it is a way of legally introducing cryptocurrency revenues into circulation.’’ The Prime Minister of the country Dmitry Medvedev pointed out in the coming altcoin news that the crypto regulation is not a priority for the country anymore since cryptocurrencies are losing popularity. Medvedev previously urged the government to legislate at least some basic crypto terms. The hype around bitcoin has since dropped but the markets are still expected to rally as the prime minister concluded. The crypto bill ‘’on digital Financial Assets’’ was passed by the lower house of the Russian parliament back in 2018 but it was sent back to first reading state instantly due to a lack of key terms such as crypto mining. Since then, the Russian Duma hasn’t initiated another reading for the crypto bill and subsequently, it always gets delayed.
Poloniex Crypto Exchange Delists Nine Crypto Tokens For US Customers
‘’On Wednesday, May 29th, at 16:00 UTC, the markets for ARDR, BCN, DCR, GAME, GAS, LSK, NXT, OMNI, and REP will be disabled for Poloniex customers in the US. All assets remain available for trading to customers outside the US.’’Traders in the United States that are affected by the decision will be able to withdraw their funds from the exchange as long as the platform continues to list the same on the platform. Jeremy Allaire, the CEO of Circle expressed deep frustration at the decision calling it a ‘’restrictive’’ US crypto regulation. Circle acquired Poloniex back in 2018. However, a group of US Congressmen showed their support for Allaire and are now trying to pass the Token Taxonomy Act which will exempt crypto tokens from the definition of securities. The US SEC, on the other hand, has maintained that most ICOs are securities. The regulator has initiated a crackdown on unlicensed crypto security offerings with multiple arrests. This decision could also affect other exchange platforms as mentioned in the altcoin news that already has increased adopted horizontal strategy. Critics say that the real growth in the market will hinge for a more vertical approach that will prioritize the quality of the tokens that are offered. This situation could lead to the extinction of many crypto tokens as predicted by Bitwise’s Matt Hougan and Digital Currency Group’s Barry Silbert. In the same time, Bitcoin is winning the hearts of traders and institutions. Since the start of the year, many major players such as Microsoft, TD Ameritrade and Fidelity Investments have shown affection for the number one cryptocurrency.
Join us on Facebook
- Cryptopia Hackers Are Moving The Funds In At Least Four Wallets
- IRS Crypto Tax Guidance Is Coming Soon: Official News
- Zimbabwe Stock Exchange Interested In Adopting Blockchain Technology
- Crypto And Forex Scams Got Away With $34 Million In 2018: UK Report
- SEC Postpones VanEck ETF Application Verdict – Again
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News3 days ago
Facebook’s Cryptocurrency Network Launched In Switzerland
Blockchain News4 days ago
Cryptopia Crypto Exchange Might Not Be Able To Refund Its Customers
Regulation5 days ago
Regulating Cryptocurrencies Is Not A Priority: Russian PM
Regulation2 days ago
Crypto Regulation In Japan: The Measures G20 Wants To Impose
Blockchain News4 days ago
Blockchain Bonds Officially Launched By CommBank And World Bank
Bitcoin News3 days ago
European Central Bank: Bitcoin Is Not A Threat But It Needs Monitoring
Litecoin News3 days ago
Litecoin (LTC) Price Analysis: It Needs To Be Above $87 For Bullish Outlook
Altcoin News4 days ago
Biggest Crypto Dump: $32 Billion Wiped Away Overnight