We’ve had some bad Cryptocurrency news for the last couple of week, after the price of Bitcoin went down to less than $6,000 for the first time in a long time. But the investment in the blockchain market isn’t going to stop, because – of course – the fluctuation is expected. Here’s what’s in the crypto market this week.
The Securities and Exchange Board of India (SEBI) organized tours to other countries for its officials to study cryptocurrencies and initial coin offerings (ICO), according to its 2017-18 annual report.
The Indian regulator reports that authorities have already undertaken “study tours” in particular to study cryptocurrency and ICOs at Japan’s Financial Services Agency (FSA), the U.K. Financial Conduct Authority (FCA) and the Swiss Financial Market Supervisory Authority (FINMA).
Of course, this isn’t the first time India has sent its officials to countries like Japan to learn about the crypto market. According to the report, the primary goal of the investment is to increase understanding of the digital currency trading system.
The investment deal isn’t the first business transaction between both companies. In July 2018, Palladium launched the maiden regulated Initial Convertible Coin Offering (ICCO) in partnership with Bittrex.
As part of the deal, Bittrex provided its robust technology framework to power the ICCO paradigm. The US-based platform also provided its token selection matrix to ensure full investor protection. The funds realized from the Bittrex investment could fast-track Palladium’s goal of obtaining a majority stake in a European bank.
Palladium’s founder, Professor Catalfamo expressed how impressed he is to make a partnership with a key player in the crypto market.
Another day, another scam. Cryptocurrency tricksters are now posing as disgraced security pioneer John McAfee to steal Bitcoin and Ethereum from unsuspecting users. But here’s the kicker: the scammers are using a shiny Tesla Model 3 to lure in victims.
“If you send in 2 BTC or 20 ETH, you will get the Grand Prize: a customized Tesla 3 model [sic] signatured [sic] by John Mcafee [sic], delivery included,” a fraudulent Medium post reads.
It’s funny that the scammers are actually trying to steal Bitcoins in exchange of a non-existent Tesla Model 3 giveaway.
That’s all we’ve got for you this week on Cryptocurrency. If you would like to learn how to make passive income, be sure to check out this post.