Altcoins News

Story: Cryptocurrency Promising Lot of Things To Gamers – Ukraine to Legalize Cryptocurrency

By Maheen Hernandez

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Jon Barry Thompson, Director of Bitcoin Escrow Service at Volantis Market might have to be in prison for several years if found to be guilty of cryptocurrency-related fraud.

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Jon Barry Thompson took more than $7 million from two companies by making false claims related to Bitcoin Escrow transactions.

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Geoffrey S. Berman, the Manhattan-based Attorney, stated, “As alleged, Jon Barry Thompson repeatedly lied to investors in cryptocurrencies about the safety of their investments…

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Thompson claimed that since Volantis is the custodian of assets for both sides, there might not be a risk and also that the company minimized the settlement default risk.

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One of the cryptocurrency companies is all set to pay $24 million to resolve allegations from the US SEC about the company has violated the Federal Investor Protection Laws.

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Block.one registered in the Cayman Islands stated, "We are excited to resolve these discussions with the SEC and are committed to ongoing collaboration with regulators and…

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Although so many things happening around many of the investors are betting on the future of cryptocurrencies. Games as services have led to an outburst of microtransactions.

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It was recently stated that “Rather than relying on external transaction mechanisms, developers can implement cryptocurrencies in their games thereby internalizing the procedure.

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Despite the cryptocurrency promising lot of things to gamers, there are a lot of hurdles before it can achieve widespread acceptance.

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The Ukrainian government is planning to legalize cryptocurrency.

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Alexander Bornyakov, Incoming Digital Transformation Deputy Minister, stated, Mikhail Fedorov, the minister would authorize the legalization.

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This move is coming at a point in time when Ukraine's Digital Transformation ministry is working with the government to make interactions with a government like ordering in Uber,…

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While plans about cryptocurrencies are underway, Ukraine will transfer the public registries and documents to a public distributed ledger which is managed by the government.

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