Economic and financial affairs ministers from the European Union’s (E.U.) 28 member states will reportedly hold an informal meeting on the challenges posed by digital assets and the possibility of tightening regulations, Bloomberg reported August 29. According to a draft note seen by Bloomberg, participants will discuss a general lack of transparency and the potential for cryptocurrency to be used for tax evasion, terrorist financing and money laundering at a September 7 meeting in Vienna, Austria. The European Securities and Markets Authority (ESMA) has previously warned customers about Initial Coin Offerings (ICOs), citing a lack of investor understanding and problems …

Colorado Securities Commissioner Gerald Rome has ordered three crypto firms alleged of promoting unregistered Initial Coin Offerings (ICOs) to show cause, according to a press release August 28. An order to show cause is a court order that compels a party or individual in a case to justify, prove, or explain something in court. The orders come as part of a state investigation into “what has become a trend of allegedly fraudulent companies looking to make quick money,” according to the press release. The investigations are being conducted under the purview of the of the Division of Securities, which is …

The North American Securities Administrators Association (NASAA) announced today, August 28, that its ongoing initiative “Operation Cryptosweep” has resulted in over 200 investigations of Initial Coin Offerings (ICOs) and crypto-related investment products. State and provincial securities regulators in the U.S. and Canada launched probes into potentially fraudulent crypto investment programs as part of the NASAA’s “Operation Cryptosweep” in May. The initiative targeting suspicious crypto investment products is reportedly the largest such coordinated investigation by state and provincial officials. The NASAA President and Alabama Securities Commission Director Joseph P. Borg said that in the course of their investigations, regulators have come …

Chinese tech giant Baidu has joined Tencent and Alibaba in imposing new anti-crypto measures in line with Beijing’s toughened stance, South China Morning Post (SCMP) reports Monday, August 27. China’s ‘Google,’ Baidu, has closed at least two popular crypto-related chat forums, according to SCMP, with a notice reportedly informing users that the move comes “in accordance with relevant laws, regulations and policies.” Meanwhile, Tencent — the operator of the 1-billion-user social media platform WeChat, has reportedly issued a statement announcing its own ban on crypto trading. The platform has said it will monitor daily transactions in real time and block …

This week, the government of China has cracked down on crypto-related WeChat accounts, blockchain events and digital asset exchanges, solidifying its negative stance on cryptocurrency trading and the Initial Coin Offering (ICO) market. WeChat ban and PBoC’s warning against ICOs On Aug. 22, Cointelegraph reported that WeChat, China’s biggest messaging app that has over 1 billion active monthly users, banned the accounts of cryptocurrency investors, users and businesses. At the time, Lanjinger, a local financial media outlet, reported that the accounts of Deepchain, Huobi News, Node Capital-backed Jinse and Coindaily were suspended or taken down permanently, as they violated its …

Russia’s Ministry of Internal Affairs is reportedly considering establishing criminal liability for unregistered crypto operations, local media outlet Izvestia reported August 23. According to documents acquired by Izvestia, the interior ministry of Russia is developing an amendment of legislation that concerns legalizing only registered operations with open source cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and others. The ministry has suggested that in order to conduct legal transactions in crypto, persons or entities should acquire a “mandatory registration with state authorities conducting financial and tax regulation.” The initiative is reportedly coming from the Russia’s interior ministry’s Main Directorate for Drugs …

The international crowdfunding firm Indiegogo will promote a new real-estate-backed token, according to a post on the company’s website. The asset-backed cryptocurrency will enable accredited investors to buy shares of the St. Regis Aspen hotel in the form of digital tokens. According a report from The Verge, the upcoming digital token Aspen Coin is registered with the U.S. Securities and Exchange Commission (SEC), and will be available for purchase with U.S. dollars, as well as major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH). The crypto-based crowdfunding project aims to raise $12 million of investment for the St. Regis Aspen hotel, and …

China is prohibiting all commercial venues from hosting any cryptocurrency-related events in Beijing’s Chaoyang district, local news outlet The Paper reported August 22. Official notice issued by local financial and social risk prevention and control authorities. Source: The Paper Many reportedly believe the ban, first covered by a local news app known as Jwview, could be extended to other districts as well, according to Cointelegraph correspondents in China. The correspondents further noted that Chinese media has conflictingly reported that the ban both does — and does not — apply to other areas in Beijing. As The Paper reports, the new …

Vague statements in Chinese mining giant Bitmain Technologies’ investor deck ambiguously and potentially misleadingly list investors ahead of its rumored Initial Public Offering (IPO). In a Bitmain pre-IPO investor deck acquired by Cointelegraph, DST Global is listed as an investor, with claims that the investment is “recently completed.” Henry Yu, a lawyer and legal expert at Hong Kong law firm L&Y Law Office, spoke with Cointelegraph, explaining that the document’s wording in the original Chinese is left vague. While it is possible to dispute the meaning, to the layperson or an uninitiated potential investor, the language would suggest Bitmain has …

Lawmakers in South Korea began discussing cryptocurrency once more Monday, August 20, in a meeting focusing on ending the country’s ICO ban, as well as other topics, Business Korea reports. Coming amid considerable attention on both cryptocurrency and blockchain propagation from Seoul, the National Assembly meeting saw participation from government ministries including the Ministry of Science and Information and Communications Technology (ICT). In addition to debating reallowing initial coin offerings (ICOs) to operate in the country, the parties involved are also keen to press ahead with the creation of South Korea’s own ‘Blockchain island.’ Centered on the Jeju Island resort, …

Thomas Zeeb, CEO of securities services at Switzerland’s top stock exchange SIX, revealed that the firm is unlikely to launch crypto trading, Business Insider reported August 17. According to Zeeb, cryptocurrencies are really “not a priority” at the moment, taking into account the fact that there are a number of other platforms that provide Bitcoin (BTC) trading services. Moreover, Zeeb noted that there are still some "reputational" issues surrounding Bitcoin, also suggesting that Bitcoin is all about “hope and hype.” However, the head of securities services at top Switzerland’s stock exchange expressed optimism about the concept of digital assets. Zeeb …

Toshi, the open source decentralized app (DApp) browser and wallet developed by Coinbase, will reportedly support Bitcoin (BTC), Bitcoin Cash (BCH), and Litecoin (LTC) “very soon,” according to an official Medium post published August 15. The wallet, which has initial support for Ethereum (ETH) and ERC-20 tokens, has also been rebranded to become “Coinbase Wallet.” The newly rebranded wallet allows users to access decentralized exchanges, use third-party dApps, buy and store crypto-collectibles, and receive airdrops and tokens from Initial Coin Offerings (ICOs). Coinbase notes that users will be able to store their private keys within their devices, rather than on …