Blockchain

Bitcoin Daily: SEC Issues Subpeonas To ICOs, Coincheck Faces Another Class Action Suit

Cryptocurrency

Following a massive hack last month, Coincheck is reportedly facing more legal pressure from investors seeking the return of their digital assets. Sankei, a Japanese media outlet, stated that an additional 132 investors have joined a class action suit, according to news from Coindesk. Investors who joined the suit, which was filed in Tokyo District Court on Feb. 27, are seeking about $2.1 million in cryptocurrency.

And a Dutch bank is reportedly developing its own crypto wallet, TheNextWeb reported. Rabobank has not disclosed much about the plans for the project, which will run as part of the company’s Moonshot program. But the bank appears to have developed a website to gauge customer interest in the wallet. The site asks users to enter their e-mail addresses and other information to receive more information in the future.

In the Marshall Islands, the government has decided that the country’s cryptocurrency – dubbed SOV – will be legal tender, Reuters reported. “This is the way of the future,” David Paul, minister-in-assistance to the president of the Marshall Islands, told Reuters. “As a country, we reserve the right to issue a currency in whatever form it is, whether in digital or fiat form.” In addition to the islands, several other countries – such as China and Iran – have talked about launching their own cryptocurrencies.

And HSBC may be getting closer to trying out blockchain technology on its transactions, Coindesk reported. According to the Global Trade Review, the bank might test proof-of-concept blockchain projects. One of the first tests? Letters of credit. Overall, the plan is to take the blockchain projects live in 2019.

In the U.S., the Securities and Exchange Commission (SEC) is reportedly probing advisers and tech companies involved with crypto, The Wall Street Journal reported. The agency has apparently issued subpoenas and information requests. An SEC spokesperson declined to comment on the matter.

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