A 24-year-old American Citizen Was Caught on Illegal Trading in Cryptocurrency 166

A 24-year-old American Citizen Was Caught on Illegal Trading in Cryptocurrency

Nowadays more and more often governments around the world, and particularly the government of the United States where the incident occurred, face cryptocurrency traders who sell BTC, ETH and other coins at face-to-face meetings with buyers and do not report their trade to the Ministry of Finance, thereby bypassing the state control, which should license every trade operation if its amount exceeds $10,000.

A US citizen, 24-year-old Eldon Stone Ross was caught on one of these illegal transactions. The man sold cryptocurrency in the amount of one and a half million dollars to an agent of special services under cover.

Ross exchanged fiat money for cryptocurrency and vice versa for a total of $40,000, which he must pay to the state according to the court decision.

“We don’t see many of these cases,” said Bert Glenn, the assistant U.S. Attorney who prosecuted the case in Philadelphia. “It’s the first I’ve done here.”

Besides paying $40,000 to the state, Eldon Stone Ross will spend one year and one day in prison. It is worth noting that this is not the first imprisonment of this fellow. In 2014 Ross was arrested for drug trafficking, which he received 23 months in a Chester County jail for.

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The UN Will Cooperate With the IOTA to Increase the Productivity of its Work 826

The UN Will Cooperate With the IOTA to Increase the Productivity of its Work

The UN branch, called the United Nations Office for Project Services (UNOPS), will work with the IOTA to improve the management of UN records using the distributed IOTA open-source ledger.

The announcement of the partnership came out on Tuesday, the 22nd of May. The co-founder of IOTA Dominik Schiener supported the idea of ​​cooperation by saying:

“We are thrilled to begin working together with UNOPS and to tackle current and future challenges together. The IOTA Foundation is fully committed to putting the IOTA Tangle to work on behalf of important humanitarian and development causes.”

The technology is going to advance administering and validating important documents, provide a real-time transaction system. The goal of the project is to include all connected devices by checking the accuracy and transactional calculations that contribute to the development of these devices in order to provide their properties and data in real time, which is one of the features why the UN chose IOTA for cooperation.

The special adviser on the blockchain technology at UNOPS, Yoshiyuki Yamamoto, said that the ledger can work with batteries or alternative charging methods, which can be very useful for territories that do not have constant access to the Internet or even electricity.

As this collaboration will become a kind of experiment, Yamamoto is not sure how long it will take to fully implement the IOTA technology. He said that it depends on many factors, which include the complexity of the problem, the type of software, the user’s participation, so the results will be difficult to predict.

In the nearest future, IOTA technology will be supported by IoT devices that do not have high processing power requirements.

The UN considers this technology very promising, arguing that the organization would not cooperate with the project unless it proved its potential.

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Coinbase Exchanged the GDAX Platform For Paradex 361

Coinbase 将GDAX 改名Coinbase Pro

The GDAX cryptocurrency platform will cease its operations, while a new one called Coinbase Pro will be launched to serve individuals whose core business is trading in cryptocurrencies. The announcement was made by representatives of the American cryptocurrency exchange Coinbase.

The Coinbase Pro developers have left the same tools that were used with its predecessor GDAX and also added new ones. For example, the system of placement and cashing of funds will be simplified at the new platform. Users will also have access to advanced analytics and will be able to post their portfolio on the updated corresponding page.

Moreover, the cryptocurrency exchange purchased the decentralized platform Paradex, functioning on the 0x protocol. GDAX plans to launch its own digital coin Wallet Coinbase, which will provide the opportunity to trade with hundreds of tokens. The new wallet will be included in the new platform in a few weeks and is available to US cryptocurrency exchange customers.

We remind you that the company Coinbase announced the release of new products in mid-May, which is targeted at institutional investors. During the announcement, such products as Coinbase Institutional Coverage Group, Coinbase Custody, Coinbase Prime and Coinbase Prime were presented.

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