The US Securities and Exchange Commission (SEC) and its staff “have spent a significant amount of time” focusing on the blockchain and crypto-assets with a slightly reluctant mode and that is a trend lingering currently.
Very recently, the US regulator seemed little passive on the Bitcoin’s possibilities by suspending all trading in securities of Bitcoin Generation (BTGN), the first publicly traded cryptocurrency exchange.
For now, the US financial watch-dog has stepped-in with the stringent actions to cease the recent Ponzi scheme to encourage diamond-backed cryptocurrencies worth $30 millions, Argyle Coin, who was in the diamond-backed cryptocurrency project transacting raw diamonds targeted nearly about 300 investors. They were offering colored diamonds worth millions.
Well, the prime objective of this project was intended to assist the functionalities of smart contracts for expediting the online transactions of the diamonds. It also ensured some sort of ownership of costly diamonds.
However, the Securities and Exchange Commission (US SEC) traced out that the uninformed investors were allured by the Palm Beach-based company by offering Ponzi-investment vehicles that were driven by diamonds back in 2014. The major driving force of such deceptive investment scheme is ‘Argyle Coin LLC’, double-crossed investors used their money to carry out the scheme.
Consequently, Natural Diamonds Investment Co. and Eagle Financial Diamond Group were banned by the US SEC on the trace of illegal co-operation to the Argyle Coin.
Harold Seigel and Jonathan Seigel, promoters of Natural Diamonds Investment Co. and Eagle Financial Diamond Group, were also charged with supporting the two companies and backing the Ponzi scheme.
Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards 83 levels (which is bullish), while hourly USD spot index was at -95 (bearish) while articulating (at 11:47 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex


U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data
Bitcoin Battles Volatility: Institutional Support Eyes USD 64,000 Floor Amid Geopolitical Tensions
Wall Street Analysts Weigh in on Latest NFP Data
Gold is meant to be a ‘safe haven’ in uncertain times. Why is it crashing amid a war?
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
2025 Market Outlook: Key January Events to Watch
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
Geopolitical Shocks That Could Reshape Financial Markets in 2025
Is dark chocolate healthier than milk chocolate? 2 dietitians explain
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
Bank of America Posts Strong Q4 2024 Results, Shares Rise
FxWirePro- Major Crypto levels and bias summary 



