Industry Report: Authorities Warn Against OneCoin, Likely Scam

Dash partners with Coinfirm, the U.S. forms a caucus to make digital currency policies, and users ar warned against OneCoin. wish to catch informed your latest digital currency and technical school news? browse the stories below.

DASH

Digital currency Dash is partnering with blockchain compliance platform Coinfirm. the corporate is about to produce Dash with a simple route into the “hearts” of companies and companies trying to permit digital currencies as potential ways of payments for the purchases of products and services. the most effective news is that the partnership isn't slated to interfere with Dash users’ gift levels of privacy.

Dash’s director of finance Ryan Taylor explains:

    “Coinfirm offers its customers actually foremost tools to satisfy regulative needs in a simple and effective manner. Dash edges greatly from Coinfirm’s integration by fast the onboarding method for regulated businesses. By integration Dash, Coinfirm conjointly joins a growing list of companies that acknowledge Dash’s enterprising standing, and we’re excited regarding the opportunities this integration opens for our scheme and our users.”

U.S. CAUCUS

Congressmen Irishman Mulvaney of South {carolina|Carolina|geographical ara|geographic area|geographical region|geographic region} and Jared Polis of Colorado are making the legislature Blockchain Caucus, designed to show each businesses and policy-makers alike regarding the advantages and technology behind bitcoin and digital currencies. the 2 legislators have teamed with the non-profit Coin Center in a trial to influence extra members of Congress to affix them at the helm.

A old advocate of bitcoin, Polis aforementioned in an exceedingly statement:

    “The blockchain has limitless potential. From cryptocurrencies to produce chains to banking to property titling, blockchain-based solutions have the power to deconcentrate cyber-security and revolutionize several industries.”

Onecoin

London police ar investigation a cryptocurrency referred to as OneCoin, and therefore the money Conduct Authority is warning against its usage. within the past, OneCoin has exhibited several of the classic qualities of a Ponzi theme. The FCA’s warnings ar currently being reiterated by extra organizations in Europe, as well as the Swedish Bitcoin Foundation and therefore the Belgian money Services and Market Authority.

An analysis behind multi-level selling and OneCoin free an announcement in September 2014 explaining:

    “[OneCoin] could be a straightforward recruitment-driven scheme, backed with a residual binary compensation structure. Masquerading as a cryptocurrency, OneCoin’s OneTokens ar nothing quite Ponzi points. The additional folks be part of the OneCoin conception, the upper the recognition and price of the currency.”

source :  http://bitcoinist.net