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BitConnect Promoter Got Banned From Providing Financial Services

BitConnect promoter from Australia John Bigatton, has been banned from providing financial services in Australia for seven years due to his involvement with the Bitconnect Ponzi scheme as we reported in our crypto news previously. The Australian Securities and Investment Commission banned John Luis Anthony Bigatton, former Australian National Representative and BitConnect promoter, due to his involvement in the multi-billion dollar crypto Ponzi Scheme, as he can no longer provide financial services. ASIC asserted that the New South Whales resident provided unlicensed financial product advice and also engaged in misleading conduct while working for BitConnect since 2017. The regulator found…

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Top Australian BitConnect promoter banned by ASIC for 7 years

John Bigatton has been barred from providing financial services in Australia for seven years for his involvement with the BitConnect Ponzi scheme. The Australian Securities and Investments Commission (ASIC) has banned John Louis Anthony Bigatton, the former ‘Australian National Representative’ of the multi-billion-dollar crypto Ponzi scheme BitConnect, from providing financial services for seven years. ASIC asserts that the New South Wales resident provided unlicensed financial product advice and engaged in misleading and deceptive conduct while working for BitConnect from August 2017 through January 2018. While an investigation is still ongoing, the regulator has found that: “Mr. Bigatton is not a…

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How Billion-Dollar Crypto Scams Lure Victims

In the past week, reports emerged that some key members of the Onecoin scam were found dead in Mexico. According to reports, the two Oscar Brito Ibarra and Ignacio Ibarra may have been kidnapped and murdered but the motives behind their murder is unclear. Onecoin is one of the biggest cryptocurrency Ponzi schemes that creamed off billions from victims even as reports emerged that it was a scam. News.Bitcoin.com has extensively covered the story of Onecoin. While increasing awareness about cryptocurrencies helps to reduce the chances of people falling for scams, it seems this alone may not be enough. Sophisticated…

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Guide to the US Federal regulatory landscape

On June 14th the SEC director of the corporate finance division, William Hinman, finally declared that Bitcoin and Ethereum are not securities, but rather, commodities that may be legally traded on the open market. This proclomation wasn’t all that groundbreaking, SEC Chairman Jay Clayton made similar statements in December of last year, but nevertheless, casual... The post Guide to the US Federal regulatory landscape appeared first on .

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