RusBankrot
We know everything about bankruptcy
24/11/2024
Sunday
THIS DAY IN HISTORY:
24 November 
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
24 November
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
COINSEED CRYPTO-TRADING PLATFORM IS SHUTTING DOWN
Coinseed crypto-trading platform will be closed down. The reason for this was the prosecution by the Attorney General of the American State of New York (NYAG) and personally its head, Letitia James. In February, NYAG filed a lawsuit against Coinseed - the company was accused of defrauding users, embezzling customers' money and scamming $ 1 million in deposits.
The lawsuit was based on the so-called ‘Martin's Law’ - a normative act which is in force in the North American state to prosecute fraudsters. In particular, the digital platform sold securities without a special license (BitLicense).
According to Delgerdalai Davaasambuu, who founded and supervised the project, the state's attorney's office used double standards to defeat the startup. Davaasambuu's accusations also turned out to be directed against the former head of the New York attorney general's office - Eric Schneiderman. According to the CEO of Coinseed, the state still lacks clear and precise rules that should regulate the activities of cryptocurrency companies. This leads to the fact that NYAG is actually extorting settlement payments from them, threatening to prosecute.
The consequence of the persecution of the crypto-trading platform by NYAG was the company's loss of access to payment providers. The head of Coinseed himself promises that all funds of the users will be returned. A different opinion is expressed by Laetitia James, according to which the organization transferred all the funds of the accounts outside the territory of the United States, and therefore investors may never see their assets.
Its high volatility and the impossibility of prompt withdrawal of funds by clients, without whose permission it was done, could lead to serious losses. In particular, law enforcement agencies cite as an example a complaint from one of the investors, whose savings have decreased several times ($ 20,000 turned into $ 7,000).
However, defenders of this kind of companies point out that Doge is currently the fourth largest cryptocurrency in the world in terms of capitalization (the first three are Bitcoin, Ether and Binance Coin), amounting to about $ 70 billion, which is more than 100 times more than at the beginning of 2021.
The lawsuit was based on the so-called ‘Martin's Law’ - a normative act which is in force in the North American state to prosecute fraudsters. In particular, the digital platform sold securities without a special license (BitLicense).
It meant that the company operated as a broker-dealer, selling commodities, but not being registered in this status.
According to Delgerdalai Davaasambuu, who founded and supervised the project, the state's attorney's office used double standards to defeat the startup. Davaasambuu's accusations also turned out to be directed against the former head of the New York attorney general's office - Eric Schneiderman. According to the CEO of Coinseed, the state still lacks clear and precise rules that should regulate the activities of cryptocurrency companies. This leads to the fact that NYAG is actually extorting settlement payments from them, threatening to prosecute.
The consequence of the persecution of the crypto-trading platform by NYAG was the company's loss of access to payment providers. The head of Coinseed himself promises that all funds of the users will be returned. A different opinion is expressed by Laetitia James, according to which the organization transferred all the funds of the accounts outside the territory of the United States, and therefore investors may never see their assets.
One of the prosecutions 'accusations against Coinseed was the practice of investing users' assets in one digital currency, Doge.
Its high volatility and the impossibility of prompt withdrawal of funds by clients, without whose permission it was done, could lead to serious losses. In particular, law enforcement agencies cite as an example a complaint from one of the investors, whose savings have decreased several times ($ 20,000 turned into $ 7,000).
However, defenders of this kind of companies point out that Doge is currently the fourth largest cryptocurrency in the world in terms of capitalization (the first three are Bitcoin, Ether and Binance Coin), amounting to about $ 70 billion, which is more than 100 times more than at the beginning of 2021.
The head of Coinseed stated that the startup was forced to close down, having no financial ability to challenge the charges of the Attorney General of New York.
Apparently, in order to add more factors annoying NYAG, a countdown was launched on the exchange website, which should end with a free distribution of a cryptocurrency called FLJ (FuckLetitiaJames). The organizers of the action plan to place it on various digital DeFi (decentralized finance) platforms. 10.06.2021
