Crypto Financial Surveillance Companies in the UK FCA

FCA is investigating crypto companies – Lawyer David Heffron, a partner at Pinsent Masons, said the agency’s increased attention

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1 CoinFLEX allows users to bet on the Libra release date

2 The RedJit TipJar rewards system shuts down

3 The QuadrigaCX founder’s wife donates $ 9 million to compensate users

3.1 Related posts:

“Reflects the FCA’s increasingly practical approach to applying the law to the cryptocurrency market.”

CoinFLEX allows users to bet on the Libra release date

The CoinFLEX exchange has launched a derivative product called Libra IFO that allows users to bet on the release date of the stable cryptocurrency. Those who guess the correct release date will be rewarded with Libra tokens. The deadline for liquidation of the derivative is December 30, 2020 and will become available on October 24.

CoinFLEX has launched the so-called initial futures offer (IFO) for the Polkadot blockchain interoperability project. The same goes for the Dfinity cloud computing network before their networks launch live.

The RedJit TipJar rewards system shuts down

TipJar, an Ethereum (ETH) based service was shut down on October 7th. This allowed the payers to send rewards and tips using ERC-20 tokens. In the official announcement, the developer TipJar mentioned “very little activity for the bot” as the main reason for closing the activity. He asked users to withdraw the funds deposited from the TipJar site as soon as possible, the Site is to be closed on April 10, 2020.

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The QuadrigaCX founder’s wife donates $ 9 million to compensate users

The widow of QuadrigaCX founder Gerald Cotten said he donated over $ 9 million in assets to users of the bankruptcy exchange.

Jennifer Robertson said:

“I have entered into a voluntary settlement agreement in which the vast majority of my assets are returned to QCX to offset the losses of the affected users.”

She explained that she believed that the assets she owned were bought with her husband’s legitimate profits, salary and dividends.

The QuadrigaCX exchange was closed shortly after the death of founder Gerald Cotten, and the situation is currently being investigated with the help of auditor Ernst & Young. The company’s funds seem to have disappeared without a trace, and QuadrigaCX is bankrupt.