[ad_1]
US prosecutors want jail time for a co-founder of Centra Tech, an entity that received celebrity approval for a 2017 Initial Coin Offering (ICO), CoinDesk reported.
Robert Farkas admitted guilty in June for the allegations made in connection with the fraudulent offer, according to the report. US prosecutors said in a condemning statement that “a substantial prison sentence would be reasonable and just in this case.” They pointed out that Farkas took part in an effort that directly led to losses totaling tens of millions of dollars for supporters who numbered hundreds.
In other news, Telegram Messenger has to pay nearly $ 625,000 to Lantah LLC, a small digital currency company sued in 2018 over a digital currency ticker and trademark dispute, Cointelegraph reported.
Lantah LLC had defended the lawsuit as of May 2018 after Telegram obtained $ 1.7 billion via an ICO for the native currency of its Telegram Open Network blockchain infrastructure, the report said.
A U.S. district judge awarded $ 618,240 in legal fees for just over 1,030 hours of work charged at $ 600 per hour in an early November ruling. The small cryptocurrency firm had tried to renumber the tally at an hourly rate of $ 900, but the judge cut the fees to come up with market prices for that type of work.
Additionally, Lantah received just under $ 6,740 in fees which Telegram has not opposed.
Meanwhile, an Australian lawmaker is advocating the use of blockchain technology, ZDNet reported.
Andrew Bragg, an Australian senator, hinted that technology could be a solution to lessen the complexities associated with the following financial regulations and provide transparency. Bragg said at the Digital Future of Financial Services 2020 conference that “the future is technology via blockchain,” according to the report.
Furthermore, the Australian legislator stressed the importance of strengthening the country’s global competitiveness in the financial space.
——————————
WATCH LIVE: HOW WE PURCHASE – TUESDAY 10 NOVEMBER 2020 – 12:00 (ET)
New forms of alternative credit and point-of-sale loan options such as “buy now, pay later” (BNPL) harness the growing influence of payment choice on customer loyalty. Nearly 60% of consumers say such digital options now influence where and how they shop, especially robust and well-crafted contactless payments and ecommerce checkouts, so merchants have a clear mandate: understand what has changed and adapt accordingly. . Stick PYMNTS CEO Karen Webster with Greg Lisiewski of PayPal, Mark Rosales of BigCommerce, is Camille Kress of Adore Me as they highlight key findings from the new PYMNTS-PayPal study, “How We Shop,” and chart better and faster paths to a stronger recovery.
[ad_2]Source link
