#virtual currencies

Judge Sun Jie of the Shanghai Songjiang People’s Court published an article on the Shanghai High People’s Court’s official WeChat account, clarifying the legal stance on virtual currencies.

Belgium’s Financial Services and Markets Authority (FSMA) has taken action against Binance, instructing the popular cryptocurrency exchange to immediately stop offering any virtual currency services in the country. In a statement released on Friday, the FSMA emphasized that individuals and firms governed by Belgian law, but not belonging to the European Economic Area, are prohibited from offering exchange services involving virtual currencies and legal currencies, as well as custody wallet services. Failure to comply with this order could result in criminal sanctions, as warned by the regulator.

Following a probe by the Twitter user OnchainPenguin, a dubious $9.5 million transaction was tied to a fresh acquisition proposal. The inflow to Hodlnaut's wallet was 2221 times higher than the average. Insights from OnchainPenguin pinpoint this account as the source of rewards to OPNX’s leadership. It seems that Hodlnaut's funds were in some way supporting OPNX's functional outlays,and the trading platform's chiefs might be on a mission to save the virtual currencies FLEX and OX. There's a looming risk that these tokens could nosedive in value if Hodlnaut opts to liquidate its possessions to repay its lenders.