Written by Kyle Protho

Data Analyst at ICO Alert. Intelligence analyst by trade. Passionate about blockchain technologies.
April 30 2018

ICO Alert Crypto Minute: April 30, 2018

ICO Alert Crypto Minute: April 30, 2018

CFTC to begin bounty program for those who report pump-and-dump schemes, Australia to revise its regulations of cryptocurrencies, top 5 cryptocurrency price changes, and more!

The U.S. CFTC has created a bounty program meant to encourage whistleblowers to expose pump-and-dump schemes. Image from Kunst Bilder.

CTFC To Begin Bounty Program for Whistleblowers of Pump-and-Dump Schemes

The U.S. Commodity Futures Trading Commission (CFTC) has created a bounty program meant to encourage whistleblowers to expose pump-and-dump schemes in the cryptocurrency industry. According to The Merkle, whistleblowers who submit “original information that leads to a successful enforcement action that leads to monetary sanctions of $1 million or more” may be given a monetary award from the CFTC.

Australia To Update Cryptocurrency and ICO Regulatory Framework

According to The Merkle, the Australian Securities and Investments Commission (ASIC) will update their guidelines to more effectively address today’s cryptocurrency industry. John Price, a commissioner of the ASIC, cautioned potential ICOs that they will not be able to avoid government regulation. However, he also expressed the ASIC’s commitment to enable innovation in fintech without sacrificing consumer protections.

Seeking Alpha Reveals More Details Behind SEC Accusation Against Longfin

The SEC accused an ICO called Longfin of running an illegal cryptocurrency stock exchange. Seeking Alpha has provided more details about the potentially unlawful actions of Longfin. Specifically, Longfin is accused of abusing the Regulation A+ exemption, which allows “smaller companies to raise up to USD 50 million without having to incur many of the costs and burdens associated with a traditional Wall Street IPO.” The SEC alleges that three Longfin executives illegally sold large blocks of their restricted Longfin shares while the stock price was highly elevated.


Data pulled from CoinMarketCap.com at 8:51 AM EST.
Data pulled from CoinMarketCap.com at 8:51 AM EST.
Data pulled from CoinMarketCap.com at 8:51 AM EST.
See a complete list of Pre-ICOs and ICOs at ICOAlert.com.

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Topics: Blockchain, Cryptocurrency, Crypto Minute, Cftc, Australia