In today’s edition of Crypto Daily News, we’ll cover the new Bitcoin Cash (BCH) futures just launched in London and the details of the 21-year-old Californian that was charged for Bitcoin money laundering.
Crypto Daily News: August 20th, 2018
Bitcoin Cash (BCH) Futures
On Friday, Bitcoin Cash (BCH) took a step into the big leagues as the UK-based Crypto Facilities took Bitcoin Cash futures live. At 4 p.m. local time, UK investors were able to bet on the future price movements of the fourth largest cryptocurrency by its total market cap.
“We are pleased to be expanding our cryptocurrency derivatives offering with the launch of Bitcoin Cash futures,” said Crypto Facilities CEO Timo Schlaefer in a statement, “BCH is a top five coin with a market capitalisation of around $10 billion and we expect our new contracts to spur the evolution of the crypto markets by bringing greater liquidity and transparency to the digital asset class.”
Crypto Facilities is one of several cryptocurrency exchanges that gives pricing data that is used in the CME’s cryptocurrency reference rates. This first listing of Bitcoin Cash futures in the UK could eventually spread to a major exchange in the US launching BCH futures sometime soon.
Bitcoin Money Laundering
A 21-year-old in the state of California is being prosecuted for numerous counts of illegal money laundering in the cryptocurrency space. The Department of Justice in the Southern District of California has ordered that Jacob Burrell Compos be held without bail in a hearing held last Friday.
According to the court filing against him, from January 2015 to April 2016, Burrell sold around $750,000 worth of Bitcoin (BTC) to 900 different individuals in the US via his Bitcoin exchange service. The reason for his arrest was that he had not registered his exchange as a licensed money transmitter and didn’t implement any anti-money-laundering measures.
The prosecutors said in the announcement:
“Burrell’s activities ‘blew a giant hole’ through the legal framework of U.S. anti-money laundering laws by soliciting and introducing into the U.S. banking system close to $1 million in unregulated cash.”
Featured Image: Depositphotos/© sborisov