Bitcoin Daily: African Open Blockchain Ecosystem In The Works; Authorities Shut Down Bitcoin Scam In Brazil

Bitcoin Daily: New Public Blockchain For Africa, Brazilian Police Bust $360M Crypto Fraud Ring

Sekunjalo Investment Holdings has teamed up with Chinese public blockchain leader Ultrain Technology Limited to develop a pan-African open blockchain system called the African Chain 3.0, according to reports. The foundation of the system “will be built on the public-access-for-commercial-use blockchain model, developed by Ultrain to handle payments” and clearing, as well as other financial services meant to improve the lives of Africans and their businesses.

Police in Brazil have shut down a bitcoin investment scheme that allegedly stole $359 million. The group apparently promised 5,000 people that it would give customers huge returns on bitcoin investments. The scammers sought victims through social media, and told them that investments would grow as much as 3 percent to 4 percent every day. However, victims weren’t allowed to withdraw their money, and it eventually disappeared. 

HBUS, a company that operates crypto trading platform Huobi Global, has ceased operations in the U.S. The company announced the news in a tweet on Monday (Dec. 9).

“We regret to inform you that HBUS will need to cease operations so that it can return in a more integrated and impactful fashion as part of its ongoing strategic layout,” the announcement said.

Huobi Global recently announced that it was going to freeze all U.S. accounts by the middle of November. The company said that the American regulatory environment for crypto had forced it to prohibit American users.

Fiat crypto gateway infrastructure company Simplex has added support for two new currencies: the Japanese yen and Canadian dollar. Simplex previously supported just three currencies: the American dollar, the euro and the British pound.

“We’re not handling crypto directly ourselves, but rather [enabling] our partners to interact with the fiat world. We handle the fiat side of the purchase, and our partners supply the crypto to the users,” said Simplex Founder and CEO Nimrod Lehavi.

Lehavi added that there are plans to add more currencies in the future.