FX Arrests in Poland, Lawsuit Seeks Hard Fork of Nano: Best of the Week

Catch up on last week's top stories.

Rockecrypto

The venture capital arm of the Rockefeller foundation signed a partnership with a cryptocurrency investment fund called Coinfund.

Venrock was established in 1969 and is famous for having invested in companies such as Apple and Intel.

Ripple-only exchange

Japanese cryptocurrency exchange SBI Virtual Currencies will list only Ripple during its launch period.

The exchange was launched by Japanese financial services company SBI Holdings in January 2018. CEO Yoshitaka Kitao said: “Not only does it have a clear use case, XRP is faster, cheaper and more scalable than any other digital asset.”

FX arrests in Poland

A call centre in Warsaw which is shared by several FX companies was raided by police, who arrested 20 employees.

The centre is operated by Amplio Investments, which is suspected of being complicit in a number of investment scams.

Invest.com websites to close down

Invest.com will no longer operate as a provider of CFDs after new laws in Europe bring more scrutiny upon the industry. A spokesman said that the firm will be undertaking a “strategic shift” towards cryptocurrency.

The firm purchased binary options-turned-CFD brokerage AnyOption only ten months ago. Customers are requested to withdraw all funds and contact the firm’s support team.

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Court fork

In a legal first, a lawsuit is seeking a court-ordered hard fork of a cryptocurrency.

The cryptocurrency in question is called XRP – $150 million worth of the token was stolen from an Italian exchange called BitGrail in February. The operators of XRP and the exchange blame each other for the hack.

Cryptocurrency in China

The People’s Bank of China released a letter which unequivocally expressed that it does not intend to relax its restrictions upon the cryptocurrency industry.

The central bank says that information monitoring and disciplinary action should both be strengthened.

Cryptocurrency in India

The Reserve Bank of India recently ordered all banks to stop dealing with cryptocurrency-related businesses within three months, causing panic in the industry.

Exchanges and investors are scambling to find a way to continue operating, which includes moving abroad. One exchange began a petition against the decision and gathered 22,000 signatures in only five days.

Kim Fournais and Saxo Bank and Geely

Danish brokerage Saxo Bank is to be acquired by Geely, a Chinese automobile company, following receipt of approval from the national regulator.

Saxo Bank CEO Kim Fournais said: “It is very positive that Geely has received approval from the Danish FSA to take up a majority stake in Saxo Bank.” Fournais will retain a 25.71 percent share of the company.

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