Your Crypto Traders Pro Weekly Review 1-19-2020 is in! In the latest Crypto Traders Pro Weekly Review 1-19-2020, we’ll be talking about the latest updates in the cryptocurrency world. Let’s dive in!
Brazil’s crypto space is suffering a slight hiccup – banks across the country are preparing to withdraw their relationships with exchanges and other entities, thanks to Brazil’s Administrative Council of Economic Defense. The government entity is backing financial institutions and their efforts to withdraw support for these exchanges – it was the financial institutions themselves who first proposed this withdraw due to their collective misguided belief that crypto is a haven for money laundering and other illegal activity.
Telegram, the popular messaging app, thought that they would receive a reprieve in its fight against the US Securities and Exchange Commission (SEC) over the sale of its GRAM token. But they were wrong. The SEC is fighting back – they’re asserting that Telegram offered unregistered securities and a court has ordered Telegram to turn over financial documents.
A lawsuit against Tether and BitFinex continues to move forward. The case is expected to be heard in New York, not in Washington, where the suit was first filed.
Bitmain is in the news again for trying to go public on a US based exchange. But that’s not the only reason why they’re in the news – they’re now facing an investigation for possible involvement in a Ponzi Scheme revolving around the BitClub Network, whose mining operations were run by Bitmain subsidiary BTC.com.
Visa is preparing to purchase Plaid, a FinTech startup that connects developers to financial institutions. Visa is reportedly prepared to pay $5.3 billion for the start up. Some of Plaid’s clients include Venmo, Acorns, TransferWise, American Express, and others.
Initial Exchange Offerings (IEO) have been around for a couple of years. But IEO’s are starting to receive a lot more attention, especially from the SEC. The SEC has sent out a warning to investors to proceed with a lot of caution if they intend on putting money into an IEO. The offerings might not be any better than some of the scams and frauds that have been seen with their predecessors.
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