Friday, June 4. The week is coming to an end, so we can talk about the most interesting news in the crypto industry for this week.
SEC wants to take on Musk
The Wall Street Journal reported that SEC considers Musk to be a breach of the 2018 settlement. The thing is, under this agreement, every Elon tweet about the company has to be approved by a lawyer.
The first violation was in 2019. Musk then tweeted the company’s plans to produce 1,000 solar-powered cars on the roof every week. The company responded that Elon’s assessment was “reassuring to everyone”.
The next violation occurred in 2020. Then Musk wrote that the company’s stock prices are inflated. To which Tesla replied that these are Elon Musk’s own thoughts.
In the fall of 2018, the commission charged Elon with fraud, after his next post on Twitter. The tweet said that Tesla is going to become a private company, by buying up all the shares, the price of which will be $420 apiece. It turned out that Musk had to resign as a director of Tesla and pay a fine of $20 million on top. Then it was decided that every public communication of the company should be coordinated with a lawyer.
Ripple: SEC should investigate foreign exchanges
Ripple has filed a court request that the US Securities and Exchange Commission investigate several foreign trading platforms. The petition was filed by CEO Brad Garlinghouse, with co-founder Chris Larsen.
In the letter, Ripple also noted that the agency would need the support of a number of authorities from several countries. These include South Korea, Hong Kong, Singapore, the United Kingdom, Malta, Seychelles and the Cayman Islands.
We will remind you that in 2020 the department accused Ripple of selling securities disguised as XRP tokens.
According to the company, the data to be obtained from foreign exchanges will show that the fifth section of the Securities Act 1933 was not infringed.
This means that all sales took place outside the United States and did not fall under the jurisdiction of the United States Securities and Exchange Commission.
Russian hackers hold a contest for the best ideas for hacking cryptocurrencies
One of the big illegal hacker forums held a contest for a month. The idea was for participants to move their ideas into articles on hacking digital assets. On April 20, the site manager opened a proposal for participants to share unusual ways of stealing private wallets, keys and similar topics. The competition was limited to 30 days and the prize fund was $100,000. It is worth noting that this type of competition is far from new. Two large illegal forums held competitions where there were ideas on a wide range of topics, such as how to hack ATMs, shopping malls. The winners could expect to win about $10,000. By the way, for participating in them, they also got $50 a story.
Intel 471 believes that such competitions show that cybercriminals are interested in digital assets and closely monitor their development. In the near future, they may also focus their power on NFT because of its huge prices. The range of hacker attacks will only increase as the crypto industry itself continues to expand and grow.
Chinese media: you can trade bitcoins if you are willing to take the risk
China’s news portal 8btc says that trading digital assets is possible if people take all the risks that come with it. But the advertising of lucrative assets will be tightened.
Such utterances date back to 2013, when there was a joint statement from different State authorities of the country on “purchase/sale of cryptocurrency”. The statement was signed by the People’s Bank of China, the Ministry of Industry and Information Technology, the Banking Regulatory Commission and several other agencies.
According to the Chinese news agency Xinhua, a comprehensive approach will be required to regulate the digital currency trade.
The miners also met with Sichuan officials to discuss the use of excess hydroelectric power under the ban.
Recall that Sichuan is one of the world’s centers for the production of the first cryptocurrency.