Newsflash: this week the EOS referendum tool should enter public beta, MapleChange scammers are tracked down while eToro lists BNB


Tuesday started with some interesting stories. Today we remain somewhat focused on the legal aspect of cryptographic space, while we spray a couple of important scoops on some of the biggest projects on the market. Check everything below:

  • The Bitcoin trader declares himself guilty of transmitting unlicensed money, loses the illegal profits

The 21-year-old Jacob Burrell Campos pleaded guilty yesterday in the federal court for charges of operating an unlicensed money transmission business, in connection with the sale of hundreds of thousands of dollars in Bitcoin to over 1,000 clients in the United States since January 2015 to April of 2016.

Burrell has admitted that he has managed a Bitcoin exchange without registering with the Financial Crimes Enforcement Network (FinCEN) of the US Treasury Department and without implementing the required AML / KYC security measures.

Burrell has advertised his activity on and communicated with his clients via e-mail and text messages, often using cryptographic applications. The supply of Bitcoin that it sold was initially purchased through a regulated stock exchange based in the United States (which closed its account due to "suspicious transactions") and later through a company based in Hong Kong that was more relaxed of his unusual behavior. In total, it has sold hundreds of thousands of dollars in Bitcoin to over 1,000 customers.

In the end, Burrell admitted that he had traded his US currency, which he held in Mexico, with Joseph Castillo, a precious metal retailer based in San Diego. The currency has been traded in amounts of just under $ 10,000 in order to avoid having to pay taxes. Burrell has agreed to renounce the United States for a total of $ 823,357 and is currently awaiting sentence on December 13, 2018.

  • Last week is expected to enter the public beta of the EOS referendum

The EOS project will launch a new referendum tool. The tool is developed by EOS Nation and will help users put their cryptocurrency into play similar to a polling system. Each voter must put a chosen number of chips into play to achieve the desired result.

EOS Nation clarifies the meaning of the instrument:

"The referendum system consists of an intelligent forum to present proposals and cast votes, a counting system to count EOS aimed at each voting option, a voting user interface with supporting documentation to facilitate the voting and support for integration with portfolios and alternative user interfaces so that token holders can participate in the interface they are more comfortable with. "

The forum smart contract is already active on the mainnet (produced by EOS Canada) and a usable user interface can be found on thanks to EOS Tribe and GenerEOS. Finally a tracking counting system is also operational thanks to EOS Nation. The voting system of the instrument's voting currently suffers from some stability problems that should be solved soon. The go / no-go vote for the beta of the instrument will take place on October 30thth.

  • Ron Paul: exempt cryptocurrency from capital gains tax

Ron Paul, the most famous American politician as the most popular presidential candidate of the country's libertarian party, shared some interesting considerations on the current economic landscape in a post published on his website "Ron Paul Institute for Peace & Prosperity" .

After agreeing with Donald Trump that the Federal Reserve interest rates are "crazy", he went on to explain how these high rates can be used by central bankers to manipulate the distribution of resources and make individuals unable to allocate resources correctly between savings. and consumption.

Mr. Paul further stepped on the cryptocurrencies created by the government for their instability and again called central banks to manipulate the money supply to maintain a desired interest rate. This leads individuals to behave in a certain way economically, but can and will cause long-term imbalances and recessions.

"When central banks create money, those who first receive the new money enjoy an increase in purchasing power before the new money causes a real increase in prices." Those who first receive the money are members of the banking and financial elite When the new money reaches the middle class and the working class, inflation has begun, so any gain in purchasing power is more than offset by increase in inflation, so the central banking system causes income inequality " explains Mr. Paul.

Calling the Federal Reserve to do nothing but create what is commonly known as the "boom and bust cycle", Paul continues to suggest that individuals today have the luxury of investing in cryptocurrency and precious metals. Furthermore, it adds that transactions involving both of these assets must be rendered exempt from capital gains tax and any other form of taxation.

The multi-asset global investment platform eToro, known for being one of the first to implement the "social trading" features, has confirmed that BNB will become the next exchangeable cryptographic asset.

BNB or Binance Coin is the native token of Binance, one of the largest and most popular cryptocurrency platforms on the market.

EToro co-founder Yoni Assia said of this addition: "Despite the sensational headlines on cryptic death, we continue to believe in the potential of cryptographic resources, as well as our customers who are increasingly trying to diversify their cryptographic holdings." In response, we will continue to add key cryptographic resources to our range and we are happy to add BNB to the platform. "

The eToro exchange will offer a BNB / USD match from the beginning. Thanks to this addition, BNB can now be bought or sold for Fiat.

  • More information on MapleChange comes out of the scam as the community dives deep

User Steemit thinkexclamation He took a deep dive into the recent scam of the Canadian cryptocurrency exchange MapleChange which apparently saw its main developers steal 913 BTC (worth $ 6 million) from its customers.

After describing exactly what happened (the initial exchange tweets, the community was not able to withdraw funds, the social media cancellation of MapleChange) the user explained how he managed to track down the real developers of the exchange , two brothers named Flavio and Glad Poenaru. Interestingly, both brothers have also deleted their social media. By further digging, the user managed to locate the actual place of residence of the scammer's father and suggested that people use the information to report these people to the Canadian authorities. You can read the full post here.

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The writers and authors of CapitanAltcoin may or may not have a personal interest in any of the projects and activities mentioned. None of the contents on CaptainAltcoin is an investment advice, nor does it replace the advice of a certified financial planner.

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