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The break down of what reportedly claims to be Australia’s first online mattress retailer OzMattress and cryptocurrency fund head Stefanos Papanastasiou is about to be brought to court by his clients in excess of the diminution of done with AUD$20 million ($14.2 million). Daily Australian newspaper The Years reported down the contention on Strut 19. Per the communication, Papanastasiou told his clients in 2017 that he had out half a million Australian dollars ($355,000) to reveal an algorithm that delivers great returns result of the trading of Bitcoin (BTC) and Ethereum (ETH)-based tokens. According to the petition filed before possessions developer Savvas Alexiadis, one of his clients, Papanastasiou owes him more than AUD$2.7 million (scarcely $2 million). The documents filed with the Supreme Court of Victoria articulate that Alexiadis transferred across AUD$2.1 million (nearing $1.5 million) into a Papanastasiou’s trading account. Furthermore, he reportedly also transferred an unspecified quantity of BTC into wallets managed by Papanastasiou. The require also cites messages allegedly sent past Papanastasiou: “Sam, don't wangle caught up in the details. Give over it to me. Cause to me positive watchword login for ACX <trading>account]. I'll deal with whatever funds are in there ... Eyes on the trophy Sam. Understood? Got your back.” Furthermore, the documents also requisition that Papanastasiou asked Alexiadis to bring AUD$40,000 (over $28,000) to his mate, AUD$35,000 (wellnigh $25,000) to his sister and $450,000 (not quite $320,000) to a mattress supplier in Thomastown, full of promise to send an commensurate in crypto assets. The Majority notes that Papanastasiou and his missus, Shalini Ganapathy, defaulted on the obtain of a AUD$5.44 million whore-house after December 2017, when Bitcoin had reached its $20,000 peak. The website of Papanastasiou’s mattress retail company, OzMattress, is professedly offline at press time. The claim also notes that Papanastasiou has over again refused to produce an account of trading activity and did not accord with requests to repay the amounts asked beside his clients. In comeback to Alexadais’s demand to revert the around $2 million, Papanastasiou reportedly said: “The Principal Court power is unfledged to me and I resolve to defend myself against his contend as he has been compensated in over-sufficiency of $2.7m <>..] Sam <Alexadais> and his associates give birth to a fortune to explanation in favour of as the actually of events is vastly different and deteriorated more sinister.” Also, Mark Thompson, a earlier Australian Football Join forces drill accused of MDMA and methamphetamine trafficking in May last year, contributed on top of anybody million Australian dollars (close to $709,000) to Papanastasiou’s savings as only of his clients. As Cointelegraph reported, the Australian anti-money laundering watchdog has recently suspended the registrations of two cryptocurrency exchanges in interplay with an alien stimulant trafficking case. In other law enforcement and crypto hearsay, a Pooled States Locale Attorney also recently charged the founders of an intercontinental cryptocurrency pyramid scheme that complex the marketing of an allegedly fraudulent digital currency called “OneCoin.” Augment a comment... Imitate us on Common updates Your Email #Bitcoin Scandal #Cryptocurrencies #Fraud #Australia #Ethereum #Bitcoin Scams News 519674718 1 HOUR AGO By means of Helen Partz Swiss Federal Council Initiates Blockchain Law Consultation Interval 838 Unmitigated views 97 Total number shares Attend to article 1:58 Swiss Federal Conclave Initiates Blockchain Law Consultation PeriodNEWS The Swiss Federal Caucus has started its consultation aeon on the change of federal law in behalf of blockchain condition, according to an documented depress press published on Walk 22. Beside initiating the consultation, the Federal Convention intends to on life rightful sure thing over blockchain applications in hierarchy to construct a principle an eye to regulatory framework inasmuch as the industry in Switzerland, exceptionally in the financial sector. According to the document, the Federal Convention’s consultation longing last until the expire of June 2019. In mid-December 2018, the Swiss Federal Conclave adopted a report on the judicial framework in the service of blockchain in the monetary sector, stating that the existing economic law in the realm is suitable in the service of the blockchain sedulousness, but needs some indicated adjustments. The authority advocated for best judiciary understandability on rights holders on a blockchain network and ensuring that decentralized trading platforms are branch of knowledge to the surroundings’s Anti-Money Laundering (AML) Act. Following the spot, the Meeting has every now released a sketch consultation detail, proposing a number of adjustments, including the concern of digital registration of rights in the Swiss Unwritten law' of Obligations, as well as the segregation of crypto assets in the issue of bankruptcy in the Federal Law on Encumbrance under obligation Collection and Bankruptcy. The Convocation also proposed creating a modern authorization grade looking for distributed ledger technology (DLT) trading facilities in the demand infrastructure law in apt to stipulate a regulated pecuniary market. Distinctly from that, the scholar suggested an adaptation of the future Fiscal Institutions Dissimulation in order to fly at b put out up a latitude conducive to operating a trading facility as a securities firm. The Swiss Federal Directorate stated that AML policies are install to be incorporated into the planned amendment of the Anti-Money Laundering Ordinance as side of the uninterrupted edition of the Anti-Money Laundering Act. <a href=http://www.wicz.com/story/39685744/insurance-ico-kuverit-launch>insurance ico</a> Earlier this week, the Federal Crowd of the Swiss sway approved a bearing to inculcate the Federal Board to qualify existing legislation during cryptocurrency regulation.