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Trump imposes $200 billion in Chinese tariffs, sharply escalating a trade war that will now include many household goodsSeptember 17, 2018 | dailybusinessnews
The Trump administration on Monday announced new tariffs on $ 200 billion of Chinese imports, a sharp escalation of its trade fight with China that will also exact costs on a wide range of American businesses and consumers.
The new tariffs, to take effect next Monday, would initially be set at 10%…
North American regulators have revealed that more than 200 cryptocurrency-related cases are being actively investigated, with 46 enforcement actions taken. The coordinated efforts by over 40 jurisdictions in the U.S. and Canada are part of Operation Cryptosweep, aimed at cracking down on unregistered and fraudulent crypto-related investment products.
200+ Cases, 46 Enforcement Actions
The North American Securities Administrators Association (NASAA) announced Tuesday that “more than 200 active investigations of initial coin offerings (ICOs) and cryptocurrency-related investment products are currently underway by state and provincial securities regulators in the United States and Canada.”
These investigations are part of the association’s ongoing coordinated regulatory initiative called Operation Cryptosweep, which was launched in May. At that time, the NASAA revealed that its “members from more than 40 jurisdictions throughout North America participated” in this effort, which resulted in at least 70 investigations. According to Tuesday’s announcement:
Since its launch in May, this ongoing coordinated regulatory focus has resulted in 46 enforcement actions involving ICOs or cryptocurrency-related investment products.
NASAA is a voluntary association whose members are securities administrators from states, provinces, and territories in the 50 U.S. states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Canada, and Mexico.
ICO Teams Told to Seek Legal Counsel
The president of the association and Alabama Securities Commission Director, Joseph P. Borg, commented:
While not every ICO or cryptocurrency-related investment is a fraud, it is important for individuals and firms selling these products to be mindful that they are not doing so in a vacuum; state and provincial laws or regulations may apply, especially securities laws.
Borg then advised sponsors of these products to seek “the advice of knowledgeable legal counsel to ensure they do not run afoul of the law,” emphasizing compliance before offering or marketing these products to investors. He also noted that products that qualify as securities must be registered with the appropriate regulatory bodies unless exempted from registration.
“The registration process provides some protection for investors by subjecting the offering to regulatory review. But even registered offerings can be fraudulent. Investors therefore should perform their own thorough due diligence before investing in any ICO or cryptocurrency-related product,” the NASAA reiterated.
Borg concluded that investors need to:
Be cautious when dealing with promoters who claim their ICO offering is exempt from securities registration but do not ask about your income, net worth or level of investing sophistication…Do your homework and contact your state or provincial securities regulator with any concerns before parting with your hard-earned money – afterwards may be too late.
What do you think of Operation Cryptosweep? Let us know in the comments section below.
Images courtesy of Shutterstock and NASAA.
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The post Operation Cryptosweep: 200+ Crypto Cases in North America, 46 Enforcement Actions appeared first on Bitcoin News.
The Trump administration plans to raise pending tariffs on $ 200 billion in Chinese goods to 25% from 10%, a source familiar with discussions confirmed to CNN.
CNN.com – RSS Channel – World
China announced it filled a World Trade Organization challenge Monday to U.S. President Donald Trump’s proposal for a tariff hike on $ 200 billion of Chinese goods, reacting swiftly amid deepening concern about the economic impact of their spiraling technology dispute.
The one-sentence Commerce…
The White House said it would assess tariffs on a further $ 200 billion in Chinese goods, deepening the dispute with Beijing, while sending a message to European trading partners that the U.S. won’t back away from trade fights.
WSJ.com: What’s News Asia
President Trump escalated his trade war with China on Tuesday, identifying an additional $ 200 billion in Chinese products that he intends to hit with import tariffs.
The move makes good on the president’s threat to respond to China’s retaliation for the initial U.S. tariffs on $ 34 billion in Chinese…
Trump threatens to slap tariffs on an additional $200 billion in Chinese goods, raising trade tensionsJune 19, 2018 | dailybusinessnews
President Trump, moving to amp up pressure on China to make trade concessions, threatened late Monday to impose tariffs on an additional $ 200 billion in Chinese imports and to double that amount if Beijing retaliates with countermeasures.
Trump’s announcement marks the latest escalation of a brewing…
As the second anniversary of Prince’s death approaches, his heirs have yet to collect a dollar of his estimated $ 200 million estate. Per the AP , bankers, lawyers and consultants have earned millions from it. The long saga to settle the estate provides a cautionary tale about dying without a will,…
North Korea earned nearly $ 200 million from exporting coal and other banned commodities last year in violation of UN sanctions, according to a new United Nations report.
CNN.com – RSS Channel – World
Cryptocurrency investments in Russian startups have increased 10 times in 2017 when entrepreneurs set in motion more than 100 crypto-funded projects, according to a new estimate. Ordinary working people, however, remain wary. Only 8% of them would like to see their salaries paid partially in crypto. Nevertheless, Russians are optimistic about bitcoin and most of them predict it will be priced higher a month from now.
Growth Dynamics: $ 20 Million to $ 200 Million
Nеw companies in Russia find it much harder to attract capital through traditional channels, as banks are reluctant to finance high-risk projects. Often they require substantial collateral for their loans. Venture capitalists, for their part, impose unfavorable conditions on new businesses. These facts of life, along with the growing popularity of cryptos, have been pushing Russian startups towards Initial Coin Offerings (ICOs).
More than 100 crypto-funded projects have started last year, compared to only 20 in 2016, CryptoBazar founder Oleg Ivanov told Izvestia. Experts think that the absence of strict regulations lies behind the dynamic growth. This catalyzes fundraising through ICOs but also leaves investors less protected. Cryptocurrency investments in Russian startups have increased 10-fold in 2017, reaching about $ 200 million, the capital-raising platform estimates. Only $ 20 million had been raised during the previous year.
It has been estimated that Russians conduct one in every five ICOs. A recent study placed Russia just behind the US and China, with a total $ 310 million raised through token sales so far. Russian teams have collected 11% of the total capital provided through coin offerings in the past four years ($ 260 million). Notable projects financed with cryptos include the mobile gaming platform MobileGo ($ 53 million), the Russian Mining Company ($ 45 million) and the supercomputer SONM ($ 42 million).
What cryptocurrency funding really shines with is the average rate of return. According to data published by CryptoBazar, it is reaching 30,000% in some successful ICO projects. The profitability is due to both the rising popularity of cryptocurrencies and their skyrocketing prices during the past year. If in the previous four years, companies had been able to raise an average of $ 2 million in a large-scale ICO project, in 2017 that indicator jumped to $ 22.6 million USD.
Regulation to Change Profits and Risks
High rates of return are anything but guaranteed. Early stage investments through coin offerings can also lead to incredibly negative numbers. That is why ICOs will not replace entirely “troublesome and expensive” IPOs (initial public offerings of stock), founder of Wirex cryptobank Dmitriy Lazarichev told Izvestia. The crypto market capitalization remains much smaller, but thanks to bitcoin and other coin investment opportunities, many new players have entered the market.
The absence of a legal framework to regulate ICOs puts entrepreneurs in a more favorable position than investors, experts warn. The question of taxation also awaits answers from authorities. Regulation proposals have been unveiled already and if implemented Russia will limit the capital collected through a single ICO and cap individual investments. Authorities in Moscow think of token sales as crowdfunding for small businesses and micro-investors. The legislation that the Ministry of Finance and the Central Bank have been preparing will also address settling legal disputes between the involved parties.
Workers Wary But Optimistic
Ordinary Russian employees do not equally share the enthusiasm of Russian crypto entrepreneurs. A recent study showed that more than half of Russians are aware of bitcoin. A new survey found, however, that only 8% of the respondents were willing to accept part of their salaries in cryptocurrency. Moreover, just 2% are ready to take only cryptos.
Sixteen hundred people took part in the survey conducted on January 18-20. Three quarters of them stated that they preferred to be paid in fiat, according to data released by the job-posting site Superjob. There are strong grounds for optimism, though. Russians predicted an average price of 12,507 USD, when asked what bitcoin would be selling for on March 1.
Do you feel optimistic about the future of cryptocurrency investments? Tell us in the comments section below.
Images courtesy of Shutterstock, CryptoBazar.
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The post Estimate: Crypto Investments in Russia Reached $ 200 Million Last Year appeared first on Bitcoin News.