Bitcoin

Bitcoin Daily: Alabama Works On ‘Operation Cryptosweep,’ Venezuelan Banks Ordered To Accept ‘Petro’ Crypto

Bitcoin Daily

Dash is teaming up with Kripto Mobile to spread its payment system through Latin America, Cryptovest reported. Users in the region are able to spend and acquire Dash through their mobile phones, which comes loaded with the Dash ecosystem.

In a tweet, Dash International Outreach Coordinator and Director of PR Mark Mason said that @Dashpay has announced an exclusive relationship with @KriptoMobile to provide Latin Americans with an affordable way of acquiring & using #Dash for everyday transactions.”

In other news, the Alabama Securities Commission (ASC) is working on “Operation Cryptosweep” with the North American Securities Administrators Association, AL.com reported. The effort is honing in on crypto investment products and initial coin offerings (ICOs). To that end, the ASC has written seven crypto-related cease and desist orders and is in the midst of 21 investigations into ICOs.

ASC Director Joseph Borg said in a press release that “the ASC is committing the necessary regulatory resources to protect investors in Alabama from financial harm involving fraudulent ICOs and cryptocurrency-related investment products, and also is raising awareness among industry participants of their regulatory responsibilities.”

In all, the association says there are 200 active investigations into investment products related to crypto and ICOs, Financial Times reported. In addition, the operation has caused 47 enforcement actions to come to pass since it started in May. As far as the crypto investment landscape is concerned, Satis Group data conveys that 81 percent of ICOs in the first quarter were scams. In addition, the data indicated 6 percent of those offerings were not successful.

And the Venezuela President Nicolás Maduro is making every bank in the country accept the ‘Petro’ cryptocurrency, The Next Web reported. Already, private and public banks have to use the digital currency in their financial reports. The news comes as Venezuela now considers both Petro and the “sovereign Bolivar” to be official national currencies. Previously, the oil sector had been told to use the cryptocurrency in its transactions.

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