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| October 23, 2018

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TMZ

Kim Kardashian Asks Governor Jerry Brown to Review Kevin Cooper’s Case

October 7, 2018 |

Kim Kardashian West is taking her fight for criminal justice reform local — asking the Governor of California to look into the case of a man some suggest has been framed for murder. KKW tweeted out the message to Governor Jerry…

TMZ.com

Colombia Crypto Exchange Asks New President for Banking Help

September 28, 2018 |

Colombia Crypto Exchange Asks New President for Banking Help

Alejandro Beltrán of Colombia’s largest cryptocurrency exchange, Buda.com, effectively shuttered by banks in the country refusing to do business with it, has written an open letter to the nation’s new president in the hope of winning a reversal. Iván Duque Márquez was elected last month, and has been quoted as embracing new financial technology. 

Also read: 3D Gun File Company Reorganizes After Cody Wilson Resigns

Colombia Crypto Exchange Buda Writes an Open Plea to New President

“Being a Fintech company,” Mr. Beltrán began, “we received with great enthusiasm [your] promise to promote the development of new technologies in Colombia [….] For this reason, it hurts us that the pressure of the previous government on the banks led them to close our bank accounts, forcing us to stop our operation and taking away from our almost 40,000 clients the possibility of buying cryptocurrencies in a safe and transparent manner.”

Alejandro Beltrán, head of Buda.com, the leading cryptocurrency exchange in Colombia, knows business. Prior to running the largest crypto venture in his country, Mr. Beltrán worked as an administrator in finance for a decade. He is also host of the Spanish language podcast, Calle Bitcoin.

Colombia Crypto Exchange Asks New President for Banking Help
Alejandro Beltrán

Reports term the occurrences of bank bans spontaneous, a variation on organic, but, whatever the actual case, by summer of this year Buda.com was effectively shut down. Banks in Colombia had decided, seemingly all at once, to cease doing business with any company even mildly related to cryptocurrencies.

“The CEO of Buda,” these pages documented in early June, “Alejandro Beltran, confirmed that Bancolombia, Davivienda, and BBVA have all terminated financial services provided to the exchange via an email sent to customers. Buda also sought to assure customers that their funds are safely protected despite the disruptions to the exchange’s operations.” It’s a tactic used all over the world, and seeing as how most banks are usually in bed with their regional governments, it doesn’t take long to determine which institution is really pulling strings when it comes to such things.

The President Has Positive Things to Say About Crypto

After various appeals, Mr. Beltrán has taken to an open letter, desperate to get some relief at the highest levels of the Colombian government. He chose to name newly elected President Iván Duque. It’s a choice probably due to Mr. Duque’s statements the beginning of the present month on cryptocurrency and financial technology.

As News.Bitcoin.com also reported, “the country’s new president, Ivan Duque, revealed his administration’s commitment to cutting down rent taxes for crypto startups for a period of up to five years. The main motivation behind the proposal is to stimulate the creation of new jobs in the industry.”

Colombia Crypto Exchange Asks New President for Banking Help
Iván Duque Márquez

And while that seems positive for enthusiasts, “the president also declared his support for exploring the implementation of blockchain technologies in order to improve key sectors such as security, health and also curb corruption by tracking the use of public funds. ‘If we want to overcome corruption, technology can be instrumental. The government must start by setting an example. We take it seriously, we want a modern Colombia,’” explains President Duque in a quoted statement. 

Mr. Beltrán wrote, “This letter, Mr. President, is to ask you very kindly and vehemently for your intervention in this great problem in order to reopen our bank accounts. We do not ask for special treatment or exceptions. We only ask to have access to a basic service to undertake, as any entrepreneur who starts with an idea that can have a positive impact on society. For our part, we are committed to continue contributing to the education of new technologies, promoting spaces that empower Colombians to be agents of change and helping in Colombia to develop a healthy and safe cryptocurrency industry.” As of publication, the President has not responded.

Do you think the President of Colombia will listen to Buda? Let us know in the comments below. 


Images courtesy of Shutterstock.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Colombia Crypto Exchange Asks New President for Banking Help appeared first on Bitcoin News.

Bitcoin News

Grieving Family Asks For Dallas Cop to Face Charges

September 9, 2018 |

The lawyer for the family of a man who was gunned down at his home by a Dallas police officer is calling for her to be arrested and charged, saying the fact that she remains free days after the shooting shows she’s receiving favorable treatment. S. Lee Merritt, who is…
Newser

TMZ

Tekashi69 Asks Judge to Bar Prosecutors From Using Rap Name in Battery Trial

August 22, 2018 |

7:40 AM PT — Tekashi’s arraignment was pushed to September.  Tekashi69 does not want to be court shamed in his trial for allegedly choking someone at a mall … so he’s asking the judge to bar prosecutors from…

TMZ.com

Trump Asks SEC to Study Six-Month Earnings Reporting

August 17, 2018 |

President Trump asked the SEC to consider scaling back how often public companies report results, a change some executives support as promoting longer-term planning, but that some investors charge could reduce transparency.
WSJ.com: US Business

Facebook Asks Banks for Customer Data

August 7, 2018 |

Facebook has asked large U.S. banks to share detailed financial information about customers, including card transactions and checking-account balances, as it seeks to boost user engagement.
WSJ.com: What’s News Asia

‘Treasure Ship’ ICO Dupes Investors – South Korea Asks Interpol for Help

August 5, 2018 |

'Treasure Ship' ICO Dupes Investors - South Korea Asks Interpol for Help

South Korean police have asked Interpol for help with an investigation into the fraudulent token sale of Shinil Gold Coins that were claimed to be backed by the “treasure” on the sunken Dmitrii Donskoi. Local media reported that the sale raised an estimated $ 53.5 million from about 124,000 investors.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Treasure Ship Without Treasure

South Korean company Shinil Group announced on July 18 that it had discovered the shipwreck of Russian battleship Dmitrii Donskoi that was scuttled in 1905. The company also claimed at the time that about 200 tons of gold were found on board.

'Treasure Ship' ICO Dupes Investors - South Korea Asks Interpol for HelpThe firm subsequently backtracked on its treasure claims after the country’s financial watchdog, the Financial Supervisory Service (FSS), started investigating it for stock and initial coin offering (ICO) fraud, as news.Bitcoin.com previously reported.

However, before withdrawing its claims, the ICO presale had already taken place through a Singaporean company with the same name, Shinil Group, the Korea Herald described. Shinil Gold Coin tokens are supposed to be backed by the treasure on the Dmitrii Donskoi. Nikkei reported that a full-page advertisement was run in a South Korean newspaper last month, detailing:

The newspaper ad said Shinil, one or the other, would soon show video of the Donskoi wreck and, in the first half of 2019, distribute dividends worth 10% of the value of the treasure that it estimated at 150 trillion won ($ 133 billion) to holders of the Shinil Gold Coin cryptocurrency.

'Treasure Ship' ICO Dupes Investors - South Korea Asks Interpol for HelpCiting that the tokens were sold “to some 124,000 investors” during the presale, the Korea Herald elaborated, “Shinil was estimated to have raised funds worth almost 60 billion won [~$ 53.5 million] as of July 26 on the claim.”

The Singaporean Shinil Group claims that “the value of a coin was expected to rise to 10,000 won [~$ 9] compared to a presale price of 30-50 won [~$ 0.03-0.05], once it completed an initial coin offering on cryptocurrency exchanges,” the publication added.

Meanwhile, “experts have said imperial Russia would have no reason to load vast treasure on a ship that was going into battle and have also noted that there was a safer land route to Vladivostok, the treasure’s supposed final destination,” AFP reported.

Connection to Singaporean Company

As the FSS launched its investigation of the firm for financial fraud, Korean police also launched a criminal investigation.

'Treasure Ship' ICO Dupes Investors - South Korea Asks Interpol for HelpChoi Yong-seok, president of the Korean Shinil Group, insisted that “Shinil Group in Singapore had nothing to do with Shinil Group in South Korea.” However, the Korea Herald pointed out that “the two companies’ founders are siblings, and the Singapore firm has been selling virtual coins, reportedly with a promise of handsome returns in case treasure is salvaged from the ship.”

Police say “the founder of the Singaporean Shinil Group, surnamed Ryu, was also wanted in connection with fraud allegations dating back to 2014” and they had already requested Interpol’s assistance with him, AFP noted. “Police has been hunting for Ryu since 2014, when he fled the country during a separate investigation…We are asking police in any relevant country to help locate and repatriate him at the earliest possible date.”

Officials of the Korean Shinil Group, including Choi, “have had travel bans imposed on them,” the news outlet detailed:

Police in Seoul requested an international arrest warrant for the founder of a Singapore-based firm Thursday after launching an investigation into the company and a South Korean startup over false claims of discovering a long-lost Russian ‘treasure ship’.

What do you think of this treasure ship scheme? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post ‘Treasure Ship’ ICO Dupes Investors – South Korea Asks Interpol for Help appeared first on Bitcoin News.

Bitcoin News

Would-Be Bank Robber Balks, Asks to Open Account Instead

August 1, 2018 |

A would-be bank robber turned into a would-be bank customer Friday afternoon, police say. The suspect walked into a Bayonne, NJ, bank and handed a teller a note demanding “all the money.” But as the teller read the note, he snatched it back and said he wanted to open an…
Newser

Miley Cyrus asks judge to seal video in dog-bite case: report

July 31, 2018 |

Miley Cyrus wants to stop a video of herself from being leaked.
FOX News