Bitcoin Daily: Mayweather And DJ Khaled May Face Suits Over ICO Scam, Police Officers Charged For Bitcoin Extortion

In the U.K., The Financial Conduct Authority (FCA) is working on a discussion paper for digital currencies with the Treasury Committee and the Bank of England, The Independent reported. “Cryptocurrency has been an area of increasing interest for markets and regulators globally,” the FCA wrote in its 2018 business plan. “In the U.K., the Treasury Committee has announced that it will be launching an enquiry, to which we intend to respond.”

And Overstock’s blockchain subsidiary, tZero, gave the world a first look at its future token trading platform, CoinDesk reported. The company revealed its prototype on Monday, along with a video to show how the technology would function. While tZero still has to wait for feedback from regulators, president Joe Cammarata anticipates that the trading platform will be ready by May.

But, in the not-so-distant future, gamers will be able to explore a virtual universe that runs on the blockchain, Bitcoinist reported. CryptoGalaxy, which will soon come to iOS and Android, will function as a decentralized entertainment app. Through the game, users will be able to buy their own planets — and name them.

And a new blockchain fund has launched in China with more than $1 billion in funding available to startups, CoinDesk reported. The Xiong’An Global Blockchain Innovation Fund was announced in Hangzhou, a city that Alibaba calls home. In addition, the city government of Hangzhou contributed more than $400 million to the fund.

In the U.S., legal experts say that Floyd Mayweather and DJ Khaled may face lawsuits after they endorsed an alleged initial coin offering (ICO) scam, NewsBTC reported. The celebrities had reportedly promoted Centra Tech, which raised more than $30 million in an ICO.

In other news, 10 police officers in India have been accused of several crimes after allegedly abducting a businessman and taking 200 bitcoins from him, CoinDesk reported. The officials allegedly took two people and a driver to a farmhouse, where they made them transfer the bitcoins. Three constables have reportedly been taken into custody, but another six have reportedly fled.