Binary Options Under Fire, IronFX Turns to Cryptocurrency: Best of the Week

Israelis arrested in the Philippines A fraudulent call centre in Pampanga, a province northwest of Manila, was busted by local

Israelis arrested in the Philippines

A fraudulent call centre in Pampanga, a province northwest of Manila, was busted by local police. 474 local employees and 8 Israelis were arrested.

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The company that they were running was called International Branding Development Marketing Inc, and it was pretending to represent a brokerage in London. The operators were illegally soliciting business from members of the public in Europe, New Zealand, Australia, South Africa, and Russia.

Albania cracks down on call centres

Albanian police have been raiding binary options and foreign exchange call centres. Scams arrived in the country in their search for a safe place to operate in Eastern Europe. A source told Finance Magnates: “There is a big big problem there.”

There are also allegations of the local tax authority being involved in the scam.

TRON expands

Cryptocurrency network TRON has managed to get its token, TRX, listed by nine different brokers in nine different countries, and wants to expand from there. TRON will do this through a partnership with a company called Shift Markets.

TRON is a blockchain project built on the Ethereum blockchain. It went its own way on the 31st of May.

IronFX launches cryptocurrency exchange

Foreign exchange brokerage IronFX is going to launch a cryptocurrency exchange in collaboration with a Hong Kong-based blockchain accelerator called EmurgoHK ‎Group.

IronX Exchange will be funded by an invitation-only token sale. 200 million IRX tokens will be offered for $0.33 each.

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Whispered threats to binary options in the US

Finance Magnates last week learned of the plans of the US government to indict several binary options companies and companies related to binary options, amounting to dozens of individuals.

The crackdown began last year when the US Commodity Futures Trading Commission charged a resident of collecting $16 million through binary options schemes.

Threats become real for binary options in the US

The rumours of a crackdown were swiftly followed by action; Jared Davis, the former CEO of several binary options operations, will face 19 counts of money laundering, fraud and obstruction of justice in the Toledo District Court.

The Department of Justice says that Davis made at least $10 million from his scams.

Analysis: Love, Sex, Bitcoins

The world may seem to be only just now catching on to cryptocurrency, but the pornography industry, worth an estimated $97 billion, has been open to it for years.

From sex worker protection to customer anonymity, this world has found many uses for cryptocurrency. And it’s not surprising when you consider that traditional finance companies often turn their noses up at such customers.

Analysis: Microsoft, GitHub, and Monero

GitHub is an open source place to store and display your code, used by thousands. Microsoft is one of the world’s biggest companies. The latter has now purchased the former for billions of dollars, and some are worried about what this will mean.

For example, the team behind anonymous cryptocurrency Monero has been debating if it should migrate to a different website, now that it’s not cool anymore.

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