#CryptoCorner; Iran Developing #Cryptocurrency, Japan’s SBI to Launch Exchange and Australia Cracks Down on #ICOs
#CryptoCorner; Iran
Developing #Cryptocurrency, Japan’s SBI to Launch Exchange and Australia Cracks
Down on #ICOs
Point Roberts, WA, Delta BC – May 1, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner.
By Samuel Mowers at Investorideas.com
Read this in full at
Iran Developing
Cryptocurrency, Japan’s SBI to Launch Exchange and Australia Cracks Down on
ICOs
Iran is progressing with its own cryptocurrency
project despite having banned crypto trading in local banks according to a
report at Reuters.
Information and Communications Technology Minister
Javad Azari-Jahromi said the ban from Iran’s state bank would not apply to
development of a domestic cryptocurrency:
“The central bank’s (ban) does not mean the
prohibition or restriction of the use of the digital currency in domestic
development,” he was quoted as saying by state news agency IRNA.
“Last week, at a joint meeting to review the
progress of the (local cryptocurrency) project, it was announced that the
experimental model was ready,” Azari-Jahromi added.
According to a report in Business Insider Japan, Japanese financial services giant SBI Holdings aims to launch its own
cryptocurrency exchange late this summer. Among the coins to be supported by
the exchange are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Bitcoin Cash
(BCH). Quoted in the piece is SBI president Yoshitaka Kitao, who in a rough translation
said that the exchange will see rapid success and will be able to cope with
high business volume:
"When we do it, it will be number one in the
blink of an eye so quickly, so even if a tremendous number of customers come,
we can build a system that can bear. [sic] We have to pursue safety
thoroughly."
The Australian Securities and Investments
Commission (ASIC) is focusing on the risk to investors from ICOs as reported in
a recent statement:
“ASIC is issuing inquiries to ICO issuers and their
advisers where we identify conduct or statements that may be misleading or
deceptive. This is in addition to our inquiries where we identify potentially
unlicensed conduct. As a result of our inquiries, some issuers have halted
their ICO or have indicated the ICO structure will be modified.
ASIC Commissioner John Price explained that the
underlying principle for the body’s inquiries was to protect investors from
misleading information:
“‘If you are
acting with someone else’s money, or selling something to someone, you have
obligations. Regardless of the structure of the ICO, there is one law that will
always apply: you cannot make misleading or deceptive statements about the
product. This is going to be a key focus for us as this sector develops.’”
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