NEWS ROUNDUP: 27/12/18

Let the world know

 

     1.Crypto Firm Libereum Acquires Spain’s Elche Football Club

     2.Silver Miller Files Lawsuit Against Crypto Ponzi Scheme

     3.Japan Reveals Expectations for Crypto Industry Self-Regulation

     4.Litecoin Becomes Official Cryptocurrency Partner Of UFC Fight

 

1.Crypto Firm Libereum Acquires Spain’s Elche Football Club

Libereum, a Dutch cryptocurrency company, announced on Wednesday that it has acquired the Spanish football club Elche CF. This brings the company one step closer to its goal of making its token (Liber) the only method of payment in the football stadium of clubs it owns.

 

LibereumUnder the agreement, Libereum has given a bank guarantee of €4.3 million ($4.9 million) as a first down payment. According to Dutch sports publication Voetbal International, the company also intended to purchase Roda JC Kerkrade of the Netherlands however, that deal has reportedly fallen through.

 

Before publishing the news yesterday, on its website, the company teased that it had reached an agreement to acquire a football club worth €80 million.

 

2.Silver Miller Files Lawsuit Against Crypto Ponzi Scheme

Cryptocurrency investor law firm based in the United States, Silver Miller, announced on Wednesday that it has commenced a new federal court lawsuit against Jeremy Spence, an alleged operator of a cryptocurrency Ponzi scheme.

 

According to the statement released on Wednesday, the lawsuit claims that Spence, through a sham entity Coin Signals, sold investments in a series of fraudulent hedge funds.

 

The lawsuit is seeking for the Court to “rescind the investments in the fraudulent Coin Signals funds; return to the investors their cryptocurrency; impose a monetary penalty against Spence and his collaborators for their fraud, and impose a constructive trust over the assets collected by Spence,” the statement said.

 

During this process, Spence allegedly pocketed large sums of money for himself, to pay for personal expenses and debts. At its highest point, the Ponzi scheme claimed to be managing more than $5 million worth of investor assets.

 

3.Japan Reveals Expectations for Crypto Industry Self-Regulation

Japan’s Financial Services Agency (JFSA), the country’s top financial regulator, has granted the Japan Virtual Currency Exchange Association (Jvcea) self-regulatory organization (SRO) status under the Payment Services Act.

 

FSA

 

The JFSA explained that it believes “the SRO can take actions flexibly to keep up with the fast-changing environment surrounding crypto-assets,” adding:

 

We think it necessary [for us] to work with the Jvcea closely so that the association can successfully perform self-regulatory functions through the establishment and application of self-regulatory rules and monitoring of their members.

 

The association is expected to cooperate with the JFSA to instruct and supervise its members to “operate their businesses appropriately.” It is also expected to work with them “to improve the safety of related systems through investigation and research on security” and disseminate “information externally to increase the awareness of exchange users,” the agency described.

 

4.Litecoin Becomes Official Cryptocurrency Partner Of UFC Fight

Litecoin will be the Official Cryptocurrency Partner of Ultimate Fighting Championship or UFC 232, according to a blog post by the Litecoin Foundation. The partnership is part of its efforts to expand the adoption of digital currencies, it said.

 

Litecoin

 

Litecoin Foundation said, “With brands and institutions continuing to push into cryptocurrency and blockchain, this is yet another signal of this technology moving closer towards the mainstream.”

 

In recent times, Litecoin reportedly has partnered with various firms and brands.

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