Presidential Candidate Andrew Yang on Crypto Regs; Tokenized Ferraris, Virgil Griffith Innocent Plea

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Andrew Yang calls for uniform crypto regulations. A luxury car-backed cryptocurrency to be launched. Virgil Griffith pleads innocent on conspiracy charges. Bitfinex introduces margin trade for Tether Gold. Cryptophyl airdrops exchange tokens, and the Reggie Fowler Crypto Capital case is still in hiatus.

Andrew Yang Calls for Clear Crypto Regulations

Andrew Yang, a Democratic Party primary candidate for US President, called for clear and uniform domestic cryptocurrency regulations. Yang declared people in the US were “stuck with this hodgepodge of state-by-state treatments and it’s bad for everybody. It’s bad for innovators who want to invest in the space,” in an interview with Bloomberg. Despite this regulatory mess, Yang recognized the potential of the technology behind cryptocurrencies, saying it has “very, very high potential and we should be investing in it.”

CurioInvest to Launch Cryptocurrency Backed by Luxury Cars

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CurioInvest, an investing platform, is launching a cryptocurrency token backed by luxury cards. The initiative, kickstarted with a partnership with MERJ Exchange, an asset exchange based in Seychelles, would bring the dream of owning (part of) a Ferrari or a Lamborghini to cryptocurrency enthusiasts from around the world. Luxury cars have gained more than 330% in value over the last 10 years, and MERJ Exchange is betting they will continue to do so in the foreseeable future, as the company is bringing in more than 50 collection cars for the ICO.

Virgil Griffith Pleas Innocent to Conspiracy Charges

Virgil Griffith, the cryptocurrency developer arrested last November for allegedly trying to aid North Korea in avoiding economic sanctions with the use of cryptocurrencies, pled not guilty to the charge of conspiracy to violate the International Emergency Economic Powers Act. Griffith will have to go to trial to contest these accusations. The trial moves now to the phase of discovery, and the US attorney in charge of the case declared they have already started collecting documentation.

Bitfinex Launches Margin Trading for Tether Gold

Bitfinex launched margin trading for Tether’s latest cryptocurrency, Tether Gold, backed by real gold bars. The exchange will make available these trades with an initial 20% of equity and a maximum leverage of 5x. Bitfinex offers three Tether Gold pairs: the US dollar (XAU₮/USD), tether (XAU₮/USD₮), and bitcoin (XAU₮/BTC). Along with this announcement, Bitfinex revealed they have increased the amount of leverage in their BTC/USD pair from 3.3x to 5x. This is the latest push by iFinex, the parent company of Bitfinex and Tether, in introducing Tether Gold into the trading market.

Cryptophyl Airdrops Exchange Token

Cryptophyl, the first SLP-based exchange, airdropped its DROP token for the month of January. In an official statement from Semyon Germanovich, CEO of Cryptophyl, more than 1,300 BCH were traded in the platform in January, and 45,158 DROP were distributed according to the volume of trade of each user. DROP, the official currency of the exchange, is airdropped every month to users based on an exponential decay model, effectively giving value to users as they conduct trades in Cryptophyl.

Reginald Fowler’s Crypto Capital Case Still in Hiatus

The Crypto Capital case, an alleged shadow bank operated by Reginald Fowler, a famous NFL former player and investor, is still on hiatus after Fowler pled guilty to “operation of an unlicensed money transmittal business.”Inner City Press, a local source following the case, discovered the case is still developing, with the only novelty being a new sealed document submitted and promptly vaulted. Fowler allegedly served a group of crypto exchanges, including Bitfinex, and is alleged to have ties to a presumed missing $850 million.

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