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Finder.com has been sued by an Australian regulator over its cryptocurrency revenue product

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ASIC claims that a crypto product bearing proceeds from the Finder-registered exchange was unlicensed; The company does not agree, however, and has declined to say whether it will fight the lawsuit.

Financial product comparison site Finder.com has been sued by Australian monetary services regulator for allegedly granting a yield-laden product on cryptocurrency when it is not the required license.

It is the second original supplier of a crypto dividend product targeted by the regulator, following the action against Block Wage Earner in November

The Australian Securities and Investments Commission (ASIC) began trial proceedings on December 15 against the Finder case of Finder.com, a regionally registered cryptocurrency exchange.

ASIC alleged that the Finder Earn product was an uncertified associate-grade cash product, which found Finder’s case to break product disclosure needs and not accommodate obligations indicating cash merchandise distribution in a highly targeted manner.

Finder Earn has provided users with an annual return of between 4.01% and 6.01% for depositing the True AUD (TAUD) pegged stablecoin to the Australian dollar.

ASIC claimed the goods were notes – an individual collateralized certificate of indebtedness – which needed an Australian Monetary Services (AFS) licence.

It claimed Finder Earn would “put shoppers at potential harm” as they would be offered a product that was “inappropriate” for them. The researcher disagrees with this assessment.

“We do not share the ASIC reading that Finder Earn is a security,” a Finder.com member told Cointelegraph.

“Since Finder Earn launched in November 2021, we have proactively engaged with ASIC and cooperated fully with all ASIC requests for data.”

Finder Earn was a “sunset” on November 24, which ASIC claimed was because Finder was notified of its considerations.

A Finder.com spokesperson claimed that the option to discontinue the product “was a strategic business decision” due to the ballooning interest rates and “wasn’t made through restrictive review.”

“We were within this sunset range as soon as we were notified [ASIC] You might take a better look.”

Both ASIC spokespersons and Finder.com say each user’s funds came in full after Finder Earn was terminated.

Finder said it “would not comment on anything because this matter is currently before the courts” once it was questioned if it would contest the suit.

“Its message to commerce is clear — simply because the proposal includes a product tied to crypto assets does not guarantee that it will fall outside the current restrictive regime,” ASIC Vice President Sarah Court said in the announcement.

ASIC’s suit against Finder.com marks its third action in as many months against cryptocurrency goods and, by extension, the companies that provided them.

In November, ASIC sued the fintech Block wageer for equally awarding 3 cryptocurrency-backed fixed-income commodities while not having an AFS license. In response to the lawsuit, Block Earner’s chief business officer criticized the “lack of clarity” in the country’s monetary licensing system.

ASIC’s lawsuit against Finder.com marks its third action in as many months against cryptocurrency goods, and is thus brought by the United Nations corporate agency.

In November, ASIC sued the fintech Block wageer for equally awarding 3 cryptocurrency-backed fixed-income commodities while not having an AFS license. In response to the lawsuit, Block Earner’s chief business officer criticized the “lack of clarity” in the country’s monetary licensing system.

The financial services company Every Second was sued by the regulator in October for “unauthorized conduct” associated with its “Qoin” token, with allegedly “misleading” representations that Qoin was regulated in Australia.

ASIC President Joe Longo has previously warned against “action” against companies promoting what is known as a “high-risk, niche” cryptocurrency investment product.

the post Finder.com has been sued by an Australian regulator over its cryptocurrency revenue product It debuted in BTC wires.

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BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

Dash 2 Trading
  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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