UK regulator to tighten measures against crypto market abuse
The United Kingdom’s financial watchdog said it will improve its market monitoring abilities and develop advanced analytics systems.
The United Kingdom’s financial watchdog said it will improve its market monitoring abilities and develop advanced analytics systems.
Part of the funds would hire staff across SEC divisions, with one job dedicated to crypto and another to help with the increased lawsuits the agency faces.
According to Foresight News, US prediction market platform Kalshi will launch five new event contracts for customers on Monday, allowing users to bet on various market price trends of Bitcoin and Ethereum using US dollars. Among the five new event contracts on Kalshi, one is a market event contract predicting the future value of Bitcoin, where users can bet on five price targets for this year: $75,000, $80,000, $90,000, $100,000, and $150,000 or higher. The other event contracts include the predicted price of Ethereum at 4 pm every day.
According to Cointelegraph: David Brend and Gustavo Rodriguez, former promoters of the alleged crypto firm IcomTech, have been found guilty of wire fraud conspiracy by a New York jury. The conviction could have them facing a maximum sentence of 20 years in prison for their role in what has been revealed as a Ponzi scheme. Source: U.S. Attorney SDNY on X The trial, which lasted two weeks, ended on March 14 when the jury at a New York District Court delivered a guilty verdict against Brend and Rodriguez. Each has been charged with one count of conspiracy to commit wire fraud. A press release from the U.S. Attorney's Office for the Southern District of New York, issued on March 15, stated that IcomTech founder David Carmona hired Rodriguez in mid-2018 to develop a website for promoting IcomTech, a newly launched firm presenting itself as a crypto mining and trading entity. Brend, Carmona and others enticed IcomTech's investors claiming the company's guaranteed daily returns through their supposed crypto mining and trading activities. Prosecutors unrevealed this to be a Ponzi scheme, concluding that no significant crypto trading or mining activities occurred, instead, new investor funds were used to pay previous investors. As per the allegations, Rodriguez aided in determining the pricing for so-called "investment packages" and unreal daily returns shown to investors via the site and his administered portal. Meanwhile, Brend and other promoters pocketed substantial amounts of victim funds, often amounting to hundreds of thousands of dollars. The seized money was misused for extravagant ventures, including real estate purchases, travel, organizing opulent expos, and community presentations, during which luxury vehicles and lavish attire were used in attempts to attract further investments. Sentences for Brend and Rodriguez are scheduled for June 27 and June 28, respectively. IcomTech's former CEO Marco Ochoa received a five-year sentence in January after pleading guilty to conspiracy to commit wire fraud. Similarly, founder Carmona, admitted his guilt regarding wire fraud conspiracy in December.
The SEC initially conceded it misled the court but argued a sanction wasn’t appropriate.
Only EUR and USDC trading pairs will be supported on the platform in the EU area going forward, according to the message.
The European Parliament granted final approval to the European Union’s artificial intelligence law, one of the world’s first set of comprehensive AI regulations.
French Hill has chaired the Subcommittee on Digital Assets, Financial Technology and Inclusion since its creation in January 2023.
The partnership allows MetaMask users to export their tax information into CoinLedger via a single click.
Worldcoin operates “lawfully in all of the locations in which it is available” and is designed to fully comply with related laws, the firm said.