FBICO? BTC-e Considers Debt Tokens and ICO to Repay...
Array

FBICO? BTC-e Considers Debt Tokens and ICO to Repay Users

-

- Advertisment -

Embattled cryptocurrency exchange BTC-e is considering issuing tokens via an ICO to cover user losses similar to Bitfinex.

In a fifth Russian-language update on Bitcointalk today, the exchange said it now had control of 55 percent of its reserves, with 45 percent remaining under control of the FBI.

“For the past 14 days we’ve fought for your funds and managed to gain control of 55 percent (depending on the exchange rate),” the post begins. “The remaining 45 percent is apprehended funds, most of which are fiat.”

BTC-e is facing mounting pressure from US law enforcement agencies and users alike, who have been shut out from their accounts since last month.

The FBI had seized databases and wallets from the exchange, while the US Securities and Exchanges Commission (SEC) said it had wanted to fine it $110 mln for disregard of AML laws applicable to operators serving US customers.

The update continues with staff saying it was “in talks with a group of investors” over a potential takeover and subsequent payout to users. It added it would no longer be able to continue trading under the BTC-e brand.

Regarding the 55 percent available funds, these, it says, will be converted to new BTC tokens.

“To achieve quicker settling of our debt obligations, BTE tokens may undergo an ICO,” the update adds.

The mystery investment outfit in question works in full compliance with relevant KYC and AML standards.

A rough English translation of the update is available here.

Source link

FBICO? BTC-e Considers Debt Tokens and ICO to Repay Users
Bitnewsbot.comhttps://bitnewsbot.com
BitNewsBot.com aggregates the latest news around bitcoin, blockchain, cryptocoin, ICO's and FinTech, from all around the internet and publishes them in a single place.

Latest news

Bitcoin and Other Cryptocurrencies – How Their Values Fluctuate

Are you interested in knowing more about Cryptocurrencies? Have you been surprised by the value of Bitcoin...

Understanding The Viability of Blockchain in Supply Chain Management

With the advent of modern technology, the business dynamics of various industries have evolved and transformed in...

Top 7 Porn Sites That Accept Bitcoin/Crypto

Bitcoin and other cryptocurrencies are not that exotic anymore. Ever since the big boom on the crypto...

“Chinachain” aims to connect hundreds of cities across China. Will it work?

If there’s ever a “Chinachain” for business, sanctified and supported by the state, the BSN ( Blockchain...
- Advertisement -

Top 10 BEST Crypto Trading Books for New Traders (2020)

We may receive a small revenue share if you purchase something from this guide - with...

Crypto Firm That Connects Exchanges and Banks Receives $5m Investment From Wells Fargo

Cryptocurrency startup Elliptic recently held a Series B funding round which was joined by a venture arm...

Must read

Bitcoin and Other Cryptocurrencies – How Their Values Fluctuate

Are you interested in knowing more about...

Understanding The Viability of Blockchain in Supply Chain Management

With the advent of modern technology, the...
- Advertisement -FBICO? BTC-e Considers Debt Tokens and ICO to Repay UsersFBICO? BTC-e Considers Debt Tokens and ICO to Repay Users

You might also likeRELATED
Recommended to you