• Kik loses SEC suit
    Alt coins,  Cryptocurrencies,  Regulation,  United States

    Kik won’t get its day in court

    The messaging app turned blockchain developer loses badly to the SEC after a summary judgement finds that 2017’s $100 million Kin ICO was an illegal, unregistered securities sale

    In a devastating ruling, a federal judge handed down a summary judgement finding that Kik’s $100 million initial coin offering in 2017 was an unregistered and illegal securities offering.

  • IRS Chainalysis Monero contract
    Alt coins,  Bitcoin,  Regulation,  United States

    IRS bets $1M Monero transactions are traceable

    The IRS decision to spend big bucks with Chainalysis and Integra FEC indicates that its criminal investigations division is eager to follow up its successes in tracking Bitcoin

    Crypto intelligence firm Chainalysis and the data analytics company Integra FEC will each receive an upfront payment of $500,000 so they can begin developing their proposed tool. America’s taxman said it was seeking “innovative solutions” for tracing XMR, as well as off-chain transactions conducted using Layer 2 scaling networks.

  • Gemini allows Zcash privacy
    Cryptocurrencies,  Regulation,  United States

    Gemini says yes to a privacy coin. Sort of…

    Crypto exchange claims that its Zcash initiative ‘demonstrates that with the right controls in place and the proper education, regulators can get comfortable with privacy-enabling cryptos’

    New York-based, regulator-friendly Gemini now allows its users to withdraw Zcash with shielded transactions that protect user privacy. The company, run by Tyler and Cameron Winklevoss, commented: “This is an exciting moment for crypto, marking the first time shielded ZEC withdrawals are available on a regulated exchange.”

  • Telegram discontinues TON testnet
    Alt coins,  Regulation,  United States

    Telegram Open Network pulls the plug on testnet, in final blow to doomed project

    The grim milestone marks the end of a sorry journey for TON, almost a year after the testnet first launched

    In a July 6 update, the development group driving TON wrote: “Our remaining validators will be switched off not later than 1.08.2020. Please save all relevant data and terminate your testing process.”