Roundup – 11/02/2019 – Ontario Securities Commission Started Investigating QuadrigaCX & more

Ontario Securities Commission Started Investigating QuadrigaCX

The British Columbia Securities Commission (BSCS) announced last week that it is not going to investigate the case of QuadrigaCX. Their reasoning was that cryptocurrencies do not (yet) fall into the category of securities. Under this condition, however, none of Canada’s financial watchdogs would be responsible for the case. Still, the Ontario Securities Commission (OSC) has now confirmed that it has already started an investigation. The OSC is the largest Securities Commission in the country but technically only responsible for the Eastern Canadian state of Ontario. QuadrigaCX was situated in Vancouver, British Columbia.

Localbitcoins.com Updates Its Compliance With AML Regulations

Localbitcoins.com is updating its compliance with new AML regulations. The update had become mandatory after Finland drafted new AML regulations according to the 5th Anti-Money Laundering Directive (5AMLD) of the European Union. In their blog post the Finnish peer-to-peer trading service stated that “by being a reference in compliance, we also aim to promote trust, legitimacy and maturity in the Bitcoin ecosystem, while paving the way for it to become a more viable and widespread currency and combating criminal use of Bitcoin and its network.” Localbitcoins.com had suffered from several security issues in the past. However, many of localbitcoins.com customers still preferred to use it for the lack of KYC regulations.

Venezuela Government Starts Regulating Cryptocurrency Remittance

Reports indicate that that the government of Venezuela has begun regulating cryptocurrency remittance in a bid to control the industry in the country. At the time of writing, the regulator has put in place a monthly limit. It will also start collecting commissions of up to 15% of the every transaction amount.

Read more.

Bitcoin Cash Developer Amaury Sechet “Claims” to Be Saotoshi Nakamoto

Amaury Sechet claimed to be Satoshi Nakamoto in a tweet from the weekend. The tweet stoically says: “I am Satoshi Nakamoto. There it is said and I can prove it” a hash follows. Another tweet followed in which he stated that “[t]he hash of the message is 69ea465fc5f924b61dd51514617a8f2118bc1363c7a91a249d1ac404662139b3” and that its content will be revealed soon. The method is the same that Craig S. Wright used in 2016 to verify that he is Satoshi Nakamoto. The “hash” proves nothing as it could be just a random sequence of letters and numbers as the message itself is not posted.

H&M Distributors Are Now Accepting Payments in Cryptos

H&M Distributors are starting to accept Cryptocurrency payments. Digital Assets that will be supported in the new deal include LTC, BDC, BCH, BTC, and other Cryptos. The American company attributes fundamental properties of Digital Tokens such as ease of converting to USD and faster settlement times as the key reason behind the move.

Read more.

 

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