SEC Shuts Down EtherDelta: Is It a New Scam?

The US Securities and Exchange Commission accused the founder of the cryptocurrency exchange EtherDelta Zachary Coburn of running an unregistered, and thus illegal trading platform.

According to the Commission, EtherDelta failed to either register the exchange officially in compliance with SEC’s regulations or apply for an exemption from these regulations. This fact makes all of its trading transactions illegitimate.

Coburn denied all of the accusation, nevertheless, he did pay a huge fine of almost 400 thousand dollars.

Meanwhile, SEC claimed that many more exchanges and trading platforms might follow EtherDelta unless they comply with all the rules. We remind you:

More Than a Dozen Fraud ICOs Were Shut Down by the SEC in 2018

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Crypto Exchange Bittrex Partners With Bitsdaq To Conquer Asia Market

One of the biggest US-based cryptocurrency exchanges, Bittrex, announced that it was partnering with Bitsdaq to open a special trading platform in Asia. This platform will provide different digital assets to the Asian investors.

Moreover, Bitsdaq will operate on Bittrex technology and will be built based on Bittrex’s experience in the blockchain.The platform will allow users to trade various digital tokens, including tokens a available on the Bittrex exchange.

The Chairman and CEO of Bitsdaq, Ricky Ng, said:

“We are honored to bring Bittrex’s extensive cryptocurrency options to the Asia market.….It takes a unique combination of advanced technology and financial expertise to launch an efficient, reliable and secure platform for trading digital assets in Asia. We found the ideal partner to help provide a safe environment for our customers and the entire community.”

In accordance with the statement, the Bitsdaq platform will control a lot of things connected to the management of the platform, such as customer support, marketing, sales and customised development. In addition, it will take care of customer operations.

The day of the launch is yet to be announced, though customers can pre-register for an account on Bitsdaq’s website.

We remind you:

Cryptopia Got Hacked, Crypto Exchange Is Suffering “Significant Losses”

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Coingecko Publishes Its Annual Crypto Report for 2018

The online platform Coingecko published it crypto report for the passed year of 2018, where it analyzed the most important events in the crypto industry, including the market trends, crypto thefts, ICO news, stablecoins, Bitcoin Cash wars etc.

As for the market tendencies, there is no doubt that 2018 was the year of collapse. The total market capitalization decreased by whopping 78.85%, with the main period of decrease falling onto Q4. Meanwhile, the trading volumes remained quite stable.

Regarding the top-5 coins in the rating, they decreased as follows:

  • BTC – by 73%;
  • XRP – by 82%;
  • ETH – by 84%;
  • BCH – by 93%;
  • EOS – by 66%

The largest crypto exchange by the end of 2018, according to the trading volumes, turned out to be Bithumb, followed closely by ZB.com and Binance.

As for stealing cryptocurrency, the estimated money loss from criminals and scammers amounted to around $867.45 million. The biggest crypto theft was Zaif hack which took place in September and resulted in the theft of $23.5 million.

The most popular blockchain platforms for creating decentralized apps became Ethereum, EOS, Steem and Tron.

The synopsis of the stablecoin development in 2018 looks the following way:

Thus, we can definitely see that though 2018 was a hard year for crypto and there were much more downs than ups, the industry is still afloat and developing. Hopefully, 2019 will be a better year.

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Cryptopia Got Hacked, Crypto Exchange Is Suffering “Significant Losses”

One of the best crypto exchanges of New Zealand, Cryptopia, was hacked. It announced this sad news via Twitter stating that it had experienced a security breach that ended in a “significant loss”. However, the company did not mention any figures of the loss.

Cryptopia has suspended all the activities on the trading platform for an indefinite period. In addition, it has notified the authorities of the country, and now it cooperates with the police and the country’s High Tech Crimes Unit in order to investigate the hacker attack.

“Staff then notified and involved the appropriate Government Agencies, including NZ police and High Tech Crimes Unit who are jointly and actively investigating the matter as a major crime and they are assisting us with advice,” the exchange stated.

This is the first cryptocurrency exchange theft in 2019, however, many customers of different crypto exchanges call into question the security of them, as there were so many incidents that had to teach exchanges how to deal with it. Some users even blame the exchanges, in particular Cryptopia, in a bear market “exit strategy”.

We remind you

The Hackers of the “51% Attack” on Ethereum Classic Returned Half of the Stolen Funds

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“There Is No Need”: Japan Refuted Rumours About Approval of Bitcoin ETF

Some services including Bloomberg reported several days ago that Japan considered a possibility of the approval of a Bitcoin exchange-traded fund (ETF). It allegedly would be used as an alternative to Bitcoin futures.

However, the representative of the FSA claimed that Japan was not considering of giving green light to the Bitcoin ETFs, saying:

“There is no such fact that we are considering approving ETFs which track crypto-assets at present. We are not currently considering approving them.”

The necessity of approving them may lie in decreasing the risk of price manipulation on the Japan market. Nevertheless, the FSA spokesman stated that there was no need of any cryptocurrency-related derivatives for now in Japan expressing its negative attitude towards both crypto ETFs and futures products.

He said: “Taken it into consideration that it is difficult for us to find constructive and social significance of trading crypto-assets derivatives at present, we think that there is no need for trading crypto-assets derivatives at financial instruments exchanges where many market participants are able to trade.”

We remind you:

SEC Will Release the Decision on Bitcoin ETF in February

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Huobi Introduces the Beta Version of Its EOS-based Decentralized Exchange

The Chinese cryptocurrency exchange Huobi launched its decentralized branch based on the EOSIO technology. Huobi was involved in some business with EOS before, however, this time there seem to be no controversies.

We remind you:

Huobi Might Be Involved in EOS Block Producers’ Manipulation

The first 3 crypto pairs listed at the exchange will be:

– EOS/BTC

– EOS/ETH

– EOS/USDT (a stablecoin)

EOS cryptocurrency will also be the main currency at Huobi’s mining pool.

The plans for opening up a decentralized exchange appeared back at the end of 2018. A couple of weeks later, the beta version launches. There is currently no info on when the exchange will start operating fully.

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The CEO of Circle Believes That a Clearer Policy of the SEC Will Cure the Crypto Industry

The CEO of the project Circle, backed up by the major bank Goldman Sachs, Jeremy Allaire started a thread on Reddit together with his co-workers, where they debated the accomplishments of the company in the recent time, talked about prospects for the future and discussed the overall situation on the crypto market.

According to the representatives of Circle, one of the main issues with crypto in the US is the lack of regulatory framework and, most importantly, the inability of the Securities and Exchange Commission to clearly define cryptocurrencies as belonging to a particular type of assets.

We remind you:

The SEC: Unlike ICO Tokens, Bitcoin and Ethereum Can Not Be Securities

There absolutely needs to be more regulatory clarity to really make this fly — in particular around who can issue these, how they can be stored and transmitted, and what markets can allow their trading. There’s a lot of attention on this and we absolutely expect to see these issues resolved and for far more real world experiments to hit the markets this year,” said Jeremy Allaire.

Also, the CEO of Circle claimed that the US should follow the example of France and have a separate kind of taxation for crypto-to-crypto transactions.

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