TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. The SEC sues KIK Interactive over KIN unregistered ICO. Smart city planner Blockchains acquire Slock.it. EOS-based social network Voice will implement ID checks. FBI seeking victim feedback on QuadrigaCX case. LocalBitcoins explains reasons behind the removal of cash trades, and Snappy Cash enhances your BCH tipping experience online.
SEC Sues KIK Interactive for Conducting $100 Million Unregistered ICO
The SEC (Securities and Exchanges Commission) is charging KIK Interactive, the company behind the app KIK Messenger, with issuing an unregistered initial coin offering (ICO) that raised more than $100 million dollars. According to the SEC, KIK promoted KIN, its token issued in the ICO, as an investment opportunity that had all the properties of a security, and for that, they had to fulfill the registration requirements of Section 5 of the Securities Act of 1933. KIK had already foreseen this, and started a fund of $5 million dollars called “DefendCrypto” in order to defend themselves from the SEC.
Smart City Planner Blockchains, LLC Acquires Slock.it
Blockchains LLC, a startup that purchased a lot of land in Nevada to build what they are calling a “smart city,” has taken a step forward by acquiring Slock.it, another blockchain-based German startup. Slock.it develops solutions to link IoT devices like appliances and cars to the Ethereum blockchain using limited resources. The price of the purchase was not released publicly, but spokespersons of Blockchains said Slock’s software was key for their future business.
EOS Based Social Network Voice Will Do ID Checks
The recently announced EOS-based social network Voice will not allow anonymous users or entities on their platform, according to an unnamed source quoted by CoinDesk. The platform will do a sort of KYC procedure different from country to country, but in most instances will require users to present a government-issued identification document. About this, its CEO Brendan Blumer declared, “It’s never been more important to know that who we are interacting with and who we are getting information from is a real person who’s accountable for what they share.”
FBI Seeks Victims in the QuadrigaCX Exchange Incident
The Federal Bureau of Investigation has taken interest in the QuadrigaCX incident where a large number of people lost their money due to the death of the Canadian exchange’s CEO. The FBI is seeking victims of to organize an investigation that could lead to eventually taking action against QuadrigaCX. Presumed victims can fill out a questionnaire voluntarily, and will be contacted later by the Bureau for additional information if necessary.
LocalBitcoins Explains Cash Trades Removal
Note on the removal of Local Cash Ads pic.twitter.com/ue2YBYErTY
— LocalBitcoins.com (@LocalBitcoins) June 4, 2019
LocalBitcoins, one of the oldest P2P bitcoin core (BTC) exchanges, explained the removal of cash trades on their platform via a note posted to Twitter. As a Virtual Currency Provider registered in Finland, the exchange must comply with rules and regulations regarding money laundering and terrorism financing. This made them reconfigure policies, and retire cash trading on June 1st, 2019.
Snappy Cash Enhances BCH Web Tipping Experience
Bridging the gap between your wallet and who you tip! This browser extension enhances plain-text #BitcoinCash addresses with QR codes and integrated Badger Wallet widgets. @cgcardona @ColinAd33006332 @BitcoinCast pic.twitter.com/HFPl8qZiXI
— Sterling Beason (@SterlingBeason) June 4, 2019
Snappy Cash, a web browser plugin that enhances the tipping experience online, has been released by its developer, Sterling Beason. The plugin shows QR codes for plain Bitcoin Cash addresses online, making tipping an easier task through mobile phones. Interestingly, it also features Badger Wallet integration, making the tipping experience on the desktop a two click action. The plugin is available for Firefox and Chrome web browsers.
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