A securities regulator in the United States, the Texas State Securities Board (TSSB), has detected another batch of alleged cryptocurrency scams. On Sept. 3, Texas Securities Commissioner Travis J. Iles entered an Emergency Cease and Desist Order against two alleged crypto scam schemes known as Forex Birds and PEK Universe. The published order names Kumar Babu Bondesi and Darwin Eric Balusek as the alleged operators of the schemes. According to the TSSB, Balusek is also known under the nickname “Bitcoin Pope.” Operating abroad, the respondents are accused of fraudulent securities offerings tied to foreign exchange (forex) and cryptocurrencies, the authority …

A crypto exchange that’s based and regulated in the United States claims that its goal is to bridge the gap between foreign exchanges, futures, stocks and banking — and ensure that digital assets are available to institutional and retail traders around the world. CoinZoom says it provides an on-ramp that enables users to easily convert their fiat into the cryptocurrency of their choosing, including Bitcoin (BTC), Bitcoin Cash (BCH), XRP and Ether (ETH). A diverse range of local currencies is supported. According to the platform, it also offers competitive maker and taker fees of 0.20% and 0.26%, respectively, with discounts …

Chainlink (LINK) is integrating with CenterPrime to bring a foreign exchange, or FX, rate data feed from the Korean banks to the DeFi space. “A breakthrough for Korean fintech industry” CenterPrime, a Hyperledger based project, has access to the Korean open banking API that streams FX rate data from several local banks. According to CenterPrime’s press release, this is a major milestone for the Korean fintech space. They noted: “This integration with Chainlink marks a major breakthrough for the Korean fintech industry. For the first time in history, applications will be able to access decentralized foreign exchange rates compiled by …

Forex traders have long been interested in what cryptocurrencies have to offer. There’s just been one problem: they often aren’t available on familiar platforms. Now, a company has launched a trading platform that unlocks access to crypto-centric products using MT5, meaning new digital assets as well as derivatives such as contracts for difference are available through a tool they know and trust. CryptoAltum says its infrastructure has been built in response to growing demand from those who, until now, have only focused on foreign currencies. The company also believes the platform will prove useful for traders who want an alternative …

Which one is right for you? Of course, this is a question that all traders have to ask themselves, but a lot of it comes down to which type of trading environment sounds better to you. Forex trading can offer more built-in stability, as well as an industry with deeper roots, more infrastructure and clear regulation. However, the room for upside in this market may not be as extreme as cryptocurrency can offer. If you’re interested in finding a broker to get involved, check out FX-List for a comprehensive collection from around the world. Also note that many FX brokers …

The United States Commodity Futures Trade Commission (CFTC) has filed a complaint against Florida resident Alan Friedland for fraudulently raising $1.6 million through a cryptocurrency tied to a forex trading scheme. The April 16 filing accuses Friedland and his companies Fintech Investment Group, Inc and Compcoin LLC of illegally soliciting investments and publishing “untrue and materially misleading” press materials for its digital asset Compcoin from 2016 until 2018. ‘Proprietary trading algorithm’ The defendant claimed that Compcoin would allow customers to access Fintech’s proprietary trading algorithm ART and would deliver high returns on investment. Friedland falsely claimed that ART’s profit potential …

Japan-based SBI Holdings announced on April 16 that it will begin using R3 blockchain-consortium technology for Forex Trading. This will be the first practical application of the Corda blockchain in the country. According to the announcement published in Nikkei Japan, the technology will be implemented in conjunction with a Tokyo-based systems management services firm called CAC. The use of Corda, which will be restricted within the company, will be used to share transaction history among involved traders. It will additionally be implemented between SBI Securities and SBI’s Forex platform Liquidity Market, or SBILM. Automatizing Forex’s transactions processes According to the …

A company says it provides the first complete crypto marketplace under Swiss law — bringing together services that were only available separately until now. According to UpBots, its mission is to become a preferred platform for beginner and professional traders alike. The service aspires to deliver a low learning curve for those who are new to cryptocurrencies or to trading in general, with risk-management tools designed to keep capital safe and reduce the risk of falling victim to scams. A comprehensive training section enables users to learn and grow at their own pace — with in-depth resources that are beneficial …

The Commodity Futures Trading Commission (CFTC) has filed charges against a Colorado native and associated investment company on fraud charges. Denver local Breonna Clark, along with Colorado-based Venture Capital Investments Ltd., face civil action from the CFTC for defrauding investors, the agency said in a statement on Feb. 14. The pair also faces charges for not achieving registration with the government agency. The accused harnessed crypto and forex to deceive investors According to the CFTC’s charges, Clark and Venture Capital Investments claimed to manage a forex and cryptocurrency trading pool, baiting United States participants into involvement with hopes of financial …

China has hinted that its treatment of cryptocurrencies such as Bitcoin (BTC) may change again as it looks to reform its forex markets. As Reuters reported on Dec. 24 citing a senior government official, a new research initiative will accompany the expansion of Beijing’s blockchain cross-border financing pilot platform. China looks to control a new situation in forex The platform, launched in March this year, is currently running as a pilot scheme in 19 provinces. “We will gradually expand the scope of the pilot and the application scenarios of blockchain technology in cross-border financing and macro prudential management,” said Lu …

Cyprus’ Securities and Exchange Commission (CySEC) recently issued a warning against almost 200 unregistered investment platforms, three of which look strikingly similar and falsely advertise ties to licensed and regulated firm BDSwiss. The CySEC posted an update to its list of unapproved website addresses on Dec. 10, which now contains 187 different names. The CySEC noted at the top of its posted list: “[T]he domains that are included in the following list are not owned or operated by Cyprus Investment Firms (CIFs) which have been authorized by CySEC to provide Investment Services.” In a Dec. 23 brief, Finance Magnates reported …

Chinese regulator State Administration of Foreign Exchange (SAFE) expanded its blockchain cross-border financing pilot program. Local news outlet GlobalTimes reported on Nov. 11 that the system now covers 19 provinces and cities, up from nine. The development is unsurprising given that at the end of October SAFE deputy head Lu Lei said that there are plans to use blockchain and AI in cross border financing with particular attention devoted to risk management applications. “No space for human mediation” Per the report, unnamed experts hope that the blockchain implementation will allow for more efficient and safer cross-border financial services. The project, …