Crypto
New York sues CoinEx, says crypto exchange failed to register with state
NEW YORK, Feb 22 (Reuters) – CoinEx was sued on Wednesday by New York Legal professional Normal Letitia James, who accused the cryptocurrency change of transacting enterprise illegally as a result of it didn’t register with the state.
In papers filed with a New York state courtroom in Manhattan, James accused CoinEx of getting “engaged in repeated and chronic fraudulent practices.”
She mentioned CoinEx’s failure to register as a commodity broker-dealer, securities dealer or securities vendor earlier than shopping for and promoting tokens violated the Martin Act, a robust state legislation used to battle monetary fraud.
James additionally mentioned CoinEx held itself out with out state permission as a world cryptocurrency “change,” and failed final month to conform along with her subpoena for testimony about its digital asset buying and selling actions.
“The times of crypto firms like CoinEx appearing like the foundations don’t apply to them are over,” James mentioned in a press release.
CoinEx didn’t instantly reply to requests for remark.
The Hong Kong-based firm was based in 2017 and is also referred to as Vino World Ltd, in response to courtroom papers.
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James’ civil lawsuit seeks restitution, and a ban on entry to CoinEx’s cell app, web site and companies from New York.
In January, New York and 9 different U.S. states secured as much as $24 million from the cryptocurrency firm Nexo Inc and an affiliate to resolve civil claims they transacted with out correct registration and lied about their registration standing.
Reporting by Jonathan Stempel in New York; Enhancing by Chris Reese and David Gregorio
Our Requirements: The Thomson Reuters Belief Ideas.
Crypto
Five Leading Cryptocurrency Winners This Week: BlockDAG Surpasses Helium, Ethena, Sei, & Monero » The Merkle News
Top 5 Cryptos This Week: BlockDAG’s Detailed Roadmap Outshine Helium, Ethena, Sei, & Monero
In the midst of a recent market downturn, where many cryptocurrencies have lost value, a few have shown resilience and registered significant gains against the U.S. dollar according to market charts. BlockDAG has emerged prominently in the presale arena, claiming a spot in the top five cryptocurrency winners this week alongside Helium, Ethena, Sei, and Monero.
BlockDAG’s rapid ascent is powered by notable achievements and a freshly updated roadmap from its initial development stages to coin vesting and tokenomics. A notable sale of over 8.7 million coins during its 10th presale batch led experts to forecast an impressive 30,000-fold potential ROI.
Helium’s Rise: Potential Future Prices
Helium (HNT) has recently seen a 17% increase, touching a price of $5.575 and marking a 44% weekly growth from $3.98 to about $5.57. CoinMarketCap reports a trading price close to $5.70 with a market capitalization of $920 million and a trading volume spike of 225% to $69 million.
The charts suggest a bullish trend for Helium, potentially driving its price further up. Continued buyer interest could reach $8.0 or even $10. However, it could decrease to lower support levels if it fails to hold the $3.50 support level.
Ethena: A Strong Buy in a Volatile Market
Despite an 18% drop due to market fluctuations, Ethena (ENA) has bounced back with a 20% increase since its launch. This rise is fueled by its growing adoption and partnerships with key wallet providers such as OKX and Bitget. Currently priced at $0.88, analysts are optimistic about its potential to climb to $3.91 by 2024.
Sei Coin: Market Fluctuations and Future Prospects
Sei coin has shown volatility, oscillating between $0.53 and $0.67, with a 4.79% rise last week despite a 25.56% drop over the month. Over six months, it has surged by 451.89%. The current price suggests mixed trends.
A rise to $0.75 could indicate further gains, potentially reaching $0.88, while a fall to $0.47 might lead to a decrease to $0.33. Stability indicators like short-term averages around $0.61 and an RSI of 57 suggest a balance between overselling and overbuying.
Monero: Stability and Privacy Amidst Market Turmoil
Monero (XMR) continues to show strong market resilience, focusing on secure and private transactions. Despite general market declines, it has gained 0.62% last week. Its trading volume has increased by 7.91%. Forecasters remain bullish, anticipating a rise to $270 by 2024.
BlockDAG’s Accelerated Mainnet Launch: Detailed Roadmap Out
BlockDAG stands out as a Layer 1 blockchain that utilizes a Proof of Work consensus mechanism to merge the best features of blockchain and DAG architectures. Recently, BlockDAG has sparked excitement in the cryptocurrency community by revealing an accelerated mainnet launch in its updated roadmap, advanced by four months due to swift progress.
The development process for the X1 miner application is meticulously outlined, starting with wireframe and UI design to create a user-friendly interface. This is followed by user onboarding, streamlining the account setup and initial configuration.
The roadmap concludes with a Community Section, which focuses on developing features to boost user interaction and provide support within the app, underscoring BlockDAG’s commitment to user experience and community engagement.
Key Takeaway
Reviewing the week’s leading cryptocurrency gainers, each coin demonstrates the potential for substantial returns. BlockDAG, however, sets itself apart with unique features outlined in its detailed development roadmap, promoting fast, scalable, and secure transactions, and enabling mobile mining via the X1 app. With a successful presale crypto coin that raised $23.9 million by its 10th batch, experts foresee a significant 30,000-fold return on investment.
Join BlockDAG Presale Now:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Crypto
Fintrac imposes $6 million fine on cryptocurrency exchange Binance Holdings
OTTAWA –
The federal anti-money laundering agency has issued a $6-million fine to cryptocurrency exchange company Binance Holdings Ltd.
Fintrac says Binance failed to register with the agency as a foreign money services business.
It also says the company failed to report large virtual currency transactions of $10,000 or more in the course of a single transaction, together with the prescribed information.
Fintrac chief executive Sarah Paquet says the agency will continue to work with businesses to help them understand and comply with their obligations.
Binance announced last year that it would withdraw from the Canadian market, citing regulatory concerns.
In November, the company agreed to pay a roughly US$4-billion settlement in the U.S. after breaking U.S. anti-money laundering and sanction laws.
Crypto
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