Creator Of ‘Big Brother’ And ‘The Voice’ Wins Legal Battle Against Facebook For Bitcoin Scams

A Dutch court has recently ruled that all fraudulent ads involving Bitcoin must be removed from Facebook. The case started when the Dutch millionaire John de Mol sued the social media company. He started the process some months ago after Facebook failed to remove fake ads that used his and other celebrities’ images.

According to the court, Facebook needs to pull all the right now and also to give regulators information about the individuals who masterminded the scams. If the social media giant is not able to do it, it may receive a fine, which can be as expensive as $1.2 million USD.

Facebook argued that it was “just a neutral funnel for information”, but the court didn’t buy it and determined that it was unacceptable for them not to act. During the legal process, Facebook affirmed that it removed all the malicious ads and that it would pursue legal action against the scammers, too.

Unfortunately, this was not the first time that de Mol had to complain about Facebook’s practices. The social media giant let other scammers capitalize on his image before. The problem dates back to October 2018, when John de Mol’s lawyer contacted the court for the first time.

Other prominent figures such as Martin Lewis, a British TV presenter, also sued Facebook last year. He accused the social media company of defamation with fake crypto ads. Before early 2018, all crypto ads were banned from the platform, but the company’s policies were changed a few months before the Libra stablecoin was announced.

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Author: Gabriel Machado

Is this SEC Signalling a Green Light to Start the Crypto Party?

The US Securities and Exchange Commission (SEC) announced on Monday that Block.One, the company behind EOS must pay $24 million in penalties for conducting an unregistered securities sale.

Block.One raised a total of $4.1 billion in 2018, that puts the fine to a meager 0.58 percent of the initial raise. The company has agreed to settle the charges, according to the SEC.

Block.One neither secured an exemption from securities registration requirements nor register the sale, the SEC said. The company said the settlement only applies to the sale of ERC-20 tokens, which the network swapped with EOS tokens after its mainnet went live.

“The SEC has simultaneously granted Block.one an important waiver so that Block.one will not be subject to certain ongoing restrictions that would usually apply with settlements of this type. Block.one believes the SEC’s granting of this waiver evidences Block.one’s continuing commitment to compliance and best practices in the United States and globally,” EOS’s statement further reads.

Could this be the sign of the altcoin party?

As Block.One puts in its statement, the SEC has waived the company and it won’t be subject to any restrictions, it might be time for the second phase of the Initial Coin Offering (ICO), that was all the rage in 2017.

Economist and trader Alex Kruger took a dig at this as he said,

“The trigger for the 2018 crypto crash was the SEC prickling the bubble. ICOs did not wither because investors got smart and realized ICOs were money grabs. Money simply stopped flowing..”

“With this fine the SEC is signaling “entrepreneurs” have green light to start another party,” he added.

Recently, we also saw Blockstack completing the first SEC approved token offering. It raised $23 million after spending 10 months and $2 million getting the agency’s approval.

In comparison to Block.One’s 0.58%, this has been close to 9%. When companies can raise billions of dollars with the threat of just getting a slap on the wrist with a tiny amount of fine, why would anyone invest years and a ton of money?

Kruger might be having a “sarcasm joke” here, but it won’t be surprising, in the light of SEC’s move if other projects would try to follow the same path, “better to ask forgiveness than permission,” as Block.one.

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Author: AnTy

IOTA Price Prediction: Long-term (MIOTA) Value Forecast – June 30

  • The long-term outlook is in consolidation.
  • Patience must be exercise trading the consolidation.

IOTA/USD Long-term Trend -Ranging

Supply zone: $0.6000, $0.7000, $0.8000
Demand zone: $0.1000 $0.0800, $0.0600

IOTA long-term outlook continues in a range-bound market. The breakout at the upper price range on 26th June pushed price up to $0.5407 in the supply area. The closed of price within range on the same day due to exhaustion implies the bears’ takeover.

The increased in bears momentum thus pushed the coin down to $0.3422 in the demand area but closed within the range on the 27th June as the coin rages.

The stochastic oscillator signal at 36% is undefined a reflection of the ranging scenario in the long-term.

$0.5000 is the upper supply area of the range while $0.3500 is the lower demand area of the range. Traders should be patient and wait for price breakout or breakdown with a retest before taking a position.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha