El Salvador approves BTC as legal tender and Coinseed ceases working

El Salvador approves BTC as legal means of payment

The legislative initiative was supported by 62 out of 84 possible deputies, 17 opposed, one parliamentarian abstained. The draft law will enter into force 90 days after publication in the official government media.

If the initiative of the head of the country Nayib Bukele is approved, bitcoin will be the official payment instrument in El Salvador. Information about this appeared in the politician’s microblog.

Coinseed ceases working

The prosecutor’s office believes that about 2 years ago, the top management of Coinseed conducted an unregistered ICO. In addition, the platform’s management applied hidden fees and attracted investors with implausible promises.

Coinseed CEO Delgerdalai Davaasambuu said the service had received no complaints from users. At the same time, the prosecutor’s office said that since the filing of the claim, the department received more than 170 complaints about the crypto project.

CFTC Commissioner: “DeFi derivatives may be illegal in the US”

These are the provisions of the American Mercantile Exchange Act.

“DeFi markets, platforms, or websites are not registered as DCMs or SEFs. The CEA does not contain any exception from registration for digital currencies, blockchains, or «smart contracts,” the CFTC Commissioner said.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store