Ethereum Flash Crashes to $13 on Coinbase, Low Orders Filled

Earlier today, the Ethereum price temporarily fell to $13 on GDAX, a high performance trading platform operated by Coinbase. According to former forex trader and cryptocurrency analyst Cole Garner, low orders in the range of $13 to $60 were actually filled on the platform. Garner published screenshots of GDAX that showed successfully filed orders at $55 and $65. As of December 7, the price of Ethereum (ETH) remains at $85 and at the lowest point of the day, ETH dropped to $83. At $55 and $65, Garner was able to…

Colorado State Commissioner Issues New Cease-and-Desist Orders Against …

Colorado Securities Commissioner Gerald Rome has issued a new batch of cease-and-desist orders against unregistered Initial Coin Offerings (ICOs) operating in the state, taking the total number of signed orders against ICOs in Colorado to 18. Today’s orders follow last week’s order issued by the North Dakota’s financial regulators against a Russian-based ICO that promoted unregistered securities by impersonating Liechtenstein-based Union Bank AG. Per an official notice from the regulator, Rome signed the new orders against Global Pay Net, Credits LLC, CrowdShare Mining and CyberSmart Coin Invest for allegedly publishing…

Italian Securities Watchdog Orders Unauthorized Crypto Companies to Cease and Desist

The Commissione Nazionale per le Società e la Borsa (CONSOB) has ordered three crypto-related companies providing unauthorized investment services to cease and desist, an official release states Monday, Nov. 19. The first company, a trading platform called Richmond Investing, has purportedly violated the Consolidated Law on Finance (TUF) — a fundamental law governing Italian financial markets — by failing to register as a financial intermediary in the country. The  Italian securities market regulator has also suspend the activities of two other companies, Crypton Ltd. and Eagle Bit Trade, along with…

US Regulator Issues Cease and Desist Orders Against Three Crypto Promoters

North Dakota Securities Commissioner Karen Tyler has issued cease and desist orders against three firms for allegedly offering unregistered and fraudulent securities in the form of Initial Coin Offerings (ICOs), according to an announcement published Oct. 11. The companies at the center of the orders are Crystal Token, Advertiza Holdings (Pty) Ltd., and Life Cross Coin a/k/a LifecrosscoinGmbH. Per the statement, Crystal Token (CYL) is an “evolutionary multi-utility” ERC-20 token, that promises earnings up to two percent per day. The token’s website allegedly contains fraudulent claims of “excessive unsubstantiated” rates…

Malaysia’s Watchdog Orders Immediate Stop to Beauty Guru Lavidacoin Promotion

The Securities Commission (SC) of Malaysia has ordered an immediate halt to all promotional activities for the recently-launched Lavidacoin (LVC) pending further review, according to a September 5 notice on the SC’s website. According to local news outlet The Star, Lavidacoin was created by Malaysian cosmetics mogul and beauty guru Datuk Seri Hasmiza Othman, aka Dato’ Vida. The beauty guru reportedly hoped to use an Initial Coin Offering (ICO) to raise as much as $1.5 billion to create an “entrepreneur-focused” online entertainment channel, an LVC payment gateway, and even a…

Apple Abruptly Orders Coinbase Wallet to Remove Crypto Collectible

It seems iPhone users won’t have access to the crypto collectible craze anytime soon. The news comes after forthcoming video game War Riders was featured on the Coinbase Wallet iOS app and then quickly withdrawn. In War Riders, players drive around an apocalyptic wasteland, building up armies of vehicles – vehicles represented by non-fungible tokens, or NFTs, on a blockchain. According to screenshots obtained by CoinDesk, a Coinbase staffer told Cartified, the company behind the game, via Discord: “Quick heads up – we will be removing from the iOS version as…

Venezuelan President Maduro Orders Banks to Adopt Crypto ‘Petro’

The president of Venezuela, Nicolas Maduro, has reportedly ordered banks in the South American country to adopt the oil-backed state cryptocurrency, the petro, as a unit of account, according to Agence France-Presse. Per a resolution passed by Sudeban, Venezuela’s banking sector regulator, financial institutions in the country will now be required to ensure that their financial information is reflected in the petro cryptocurrency besides the bolivar, the country’s fiat currency. Sudeban instruye a la banca adoptar el “Petro” como unidad de cuenta #AhorroEnOro @NicolasMaduro @minecofinanzas @SimonZerpaD (2) pic.twitter.com/rqbrHrJPL5 — SudebanInforma…

Chile Court of Appeals Orders Bank to Resume Business With Crypto Exchange Orionx

Chilean Court of Appeals has ruled in favor of crypto exchange Orionx, resolving that the state-owned bank Banco Estado should reopen the company’s deposit account, local news outlet La Tercera reported July 12. The Fourth Chamber of the Court of Appeals of Santiago has accepted the appeal filed by Orionx crypto exchange against Banco Estado, which closed the company’s deposit account in late March. At that time, the bank cited the lack of “regulatory recognition of [cryptocurrency trading]” as justification for its decision. Now, by the ruling of the Court…

Japan’s Financial Watchdog Orders AML Shake-Up at 6 Crypto Exchanges

Japan’s financial watchdog has issued business improvement orders to six licensed cryptocurrency exchanges following on-site inspections conducted over recent months. According to an announcement made by the Financial Services Agency (FSA) on Friday, the regulator is ordering bitFlyer, QUOINE, BTC Box, Bit Bank, Tech Bureau and Bit Point to enhance their internal-auditing and user-protection systems. As a result, bitFlyer has announced that it has temporarily stopped accepting new customers in order to reexamine the IDs of “certain customers.” The firm told CoinDesk that “bitFlyer (Japan) is working closely with the FSA and…