Coinseed Reportedly Shut Down by NYAG 0 47

As per the latest reports, the New York Attorney General (NYAG) has successfully achieved victory against Coinseed. Coinseed is a cryptocurrency exchange that had been operating in the United States and was involved in somewhat dodgy activities.

The sources have revealed that the cryptocurrency exchange had been carrying out unusual activities involving Dogecoin (DOGE). Through its activities involving DOGE, the exchange was allegedly defrauding its customers.

However, the Attorney General of New York had decided to bring a stop to the fraudulent activities of Coinseed. Therefore, the Attorney General of New York gave orders to deal with Coinseed swiftly. The orders from the New York Attorney General against Coinseed were given on Monday, September 13, 2021.

The name of the NYAG is Letitia James, who ordered that Coinseed’s operations in the cryptocurrency space should be halted with immediate effect. Letitia James ordered the exchange can no longer operate as it is involved in running a fraud.

Apart from orders to halt operations for the cryptocurrency exchange, the NYAG has also imposed a fine of $3 million on Coinseed. The fine has been imposed on the exchange for being dodgy and defrauding a large number of investors.

The report suggests that the Coinseed exchange had shut down the withdrawal access for the users. The exchange not only froze the withdrawal activity of the users, but it also proceeded with converting investors’ funds to Dogecoin. In the report against Coinseed, it was claimed that Coinseed was involved in converting investor funds to DOGE without even getting the consent of users.

Apart from defrauding the investors, the exchange even emptied and closed its own bank account, where it was accumulating all the funds from the investors. The report also suggests that Coinseed was involved in providing unregistered securities/services to US citizens.

This is not the first time Coinseed has been issued with an order by the NYAG Letitia James. In the past, James had issued somewhat of a lighter order against the exchange for ceasing its illegal security distribution activities.

At that time, James had announced that the exchange must stop all its illegal and unregistered operations involving the selling of securities. However, the exchange completely ignored the order and carried on providing illegal/unregistered services to the US investors.

The case had been ongoing since then and the NYAG was deciding on what it was going to do with the case. Therefore, the final verdict has been given against the exchange to shut it down completely.

When the court first took an action against the exchange back in June of 2021, it went ahead acquiring a stay order so it could continue operating. However, the exchange has now dug its own grave by not complying with the regulations.

 

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MELT, GTC, PAL, and more Cryptocurrencies among Highest Gainers in Past 24-hours 0 16

In the list of highest gaining cryptocurrencies, the cryptocurrency on the top is Defrost Finance (MELT). In the past 24-hours, MELT has observed a 192.83% surge in its price, surging it all the way up to $11.97 per MELT. Similar to the price surge in the past 24-hours, MELT’s trading volume in the past 24-hours has increased to $1,177,520. MELT is currently the 3220th largest cryptocurrency in the crypto-verse in terms of its $1,401,512 market valuation.

The next cryptocurrency coming after Defrost Finance is Gitcoin (GTC). In the past 24-hours, GTC has observed a 171.08% surge in its price, surging it all the way up to $25.56 per GTC. Similar to the price surge in the past 24-hours, GTC’s trading volume in the past 24-hours has increased to $1,199,791,917. GTC is currently the 264th largest cryptocurrency in the crypto-verse in terms of its $363,625,405 market valuation.

The next cryptocurrency coming after Gitcoin is PlayAndLike (PAL). In the past 24-hours, PAL has observed a 168.43% surge in its price, surging it all the way up to $0.0000016 per PAL. Similar to the price surge in the past 24-hours, PAL’s trading volume in the past 24-hours has increased to $52,540. PAL is currently the 4780th largest cryptocurrency in the crypto-verse in terms of its $144,015,382,197 market valuation.

The next cryptocurrency coming after PlayAndLike is Elonomics ($ELONOM). In the past 24-hours, $ELONOM has observed a 131.06% surge in its price, surging it all the way up to $0.02629 per $ELONOM. Similar to the price surge in the past 24-hours, $ELONOM’s trading volume in the past 24-hours has increased to $212,424. $ELONOM is currently the 3934th largest cryptocurrency in the crypto-verse in terms of its $26,633 market valuation.

The next cryptocurrency coming after Elonomics is ICE ROCK MINING (ROCK2). In the past 24-hours, ROCK2 has observed an 85.68% surge in its price, surging it all the way up to $0.01744 per ROCK2. Similar to the price surge in the past 24-hours, ROCK2’s trading volume in the past 24-hours has increased to $67,982. ROCK2 is currently the 2229th largest cryptocurrency in the crypto-verse in terms of its $274,300 market valuation.

The next cryptocurrency coming after ICE ROCK MINING is India Coin (INDIA). In the past 24-hours, INDIA has observed a 128.93% surge in its price, surging it all the way up to $0.0000006419 per INDIA. Similar to the price surge in the past 24-hours, INDIA’s trading volume in the past 24-hours has increased to $452,332. INDIA is currently the 3571st largest cryptocurrency in the crypto-verse in terms of its $3,975,380 market valuation.

Even more cryptocurrencies are joining the ranks of top gainers and among these cryptocurrencies are KING, ALLBI, HIKO, and many more.

Crypto.com is Now First-Ever Exchange that is now Adhering to SOC 2 Standards 0 17

As per the latest reports, Crypto.com has made an announcement in regards to acquiring a new certification. Crypto.com, one of the most popular cryptocurrency exchanges has announced that it is now in full compliance with the SOC 2 standards. Crypto.com is based in Singapore and it has a global user base.

The exchange has announced that it has successfully acquired the SOC 2 certification after a successful audit. The exchange has announced that it had Deloitte carry out the audit prior to granting certification.

Deloitte is a global consulting firm that has been around since 2015, is based in the United Kingdom. It is spread all over the world, currently providing its services in over 150 countries.

The SOC is reportedly a traditional finance standard that is known all over the world. With the acquisition of the SOC 2 certification, Crypto.com has become the first-ever cryptocurrency exchange to have acquired this recognition.

The SOC 2 certification is granted to traditional financial institutions that are considered highly trustworthy in the financial sector. Prior to the granting of the certification, the operations, policies, and information practices of the company are audited and attested. If the particular company is able to pass all the audits successfully, it is granted the SOC 2 certification.

After the acquisition of the SOC 2 certification, Crypto.com has now become the securest and most trustworthy trading platform or cryptocurrencies. The exchange has even earned the title of being the only cryptocurrency exchange that is now SOC 2 certified.

With the acquisition of the SOC 2 certification, Crypto.com has set a new standard that every major exchange would want to achieve. This will increase the standards of the regulatory framework within the cryptocurrency industry. Now, the major exchanges will be competing with each other in order to acquire the SOC 2 certification.

It is being expected that with the acquisition of the SOC 2 certification, Crypto.com will be able to attract a tremendous number of users.

With the SOC 2 standard in its grasp, the exchange can confidently claim to be offering the most reliable services to users. The exchange can offer high regulatory compliance, privacy, and security to the users.

The CEO and co-founder of Crypto.com, Kris Marszalek, talked about the recent achievement of their company. He stated that with the acquisition of the SOC 2 certification, they are able to prove to the world how well their exchange has been working.

Their exchange has finally achieved a new goal, which is going to increase the competition within the crypto-verse. With the new certification, they are now able to offer a lot more to the users than any other exchange.

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