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Bitcoin stock exchange operator arrested over fraud charges

NEW YORK: The operator of a shuttered bitcoin-denominated exchange was arrested on federal charges that he lied to U.S. securities regulators to avoid taking responsibility for the theft by hackers of virtual currency now worth nearly $70 million. Federal prosecutors in Manhattan announced the charges against BitFunder founder Jon Montroll the same day the U.S. Securities and Exchange Commission filed a lawsuit accusing him and the company of running an unregistered securities exchange that defrauded its users. “As…

Saudi bourse adjusts rules to attract foreign funds, ease Aramco IPO

DUBAI: Saudi Arabia’s stock exchange is adjusting its rules to make it easier for foreign investors to trade - steps that may help the bourse absorb a huge IPO by oil giant Saudi Aramco this year, the exchange’s chief executive said on Wednesday. These changes are required by the growth of the market and what international institutions tell us,” Khalid al-Hussan said in a telephone interview from Riyadh. Trading limits will be made more flexible for the exchange’s independent custody system, Hussan said. The system…

The SEC just issued a warning to ‘Bitcoin’ investors

NEW YORK: America’s chief financial regulator is warning investors against cryptocurrency scams, saying trading and public offerings in the emerging asset class may also be in violation of federal securities law. The statement by the chairman of the U.S. Securities and Exchange Commission (SEC) Jay Clayton came just hours after the U.S. securities watchdog stepped in to stop an “initial coin offering” (ICO) from a restaurant review app, after the company failed to register it as a security. Clayton’s comments come as…

Bitcoin makes muted stock exchange debut at $15,000

NEW YORK: Cryptocurrency Bitcoin made its debut on a major bourse Sunday, opening at $15,000 per unit at the Chicago board options exchange.  Around 23:20 GMT, the price of the currency had risen to $15,940 dollars on a futures contract scheduled for settlement on January 17 according to data provided by the Chicago board options exchange (Cboe). A futures contract is a financial product that allows investors to bet on whether the currency's price will rise or fall. It is the first opportunity for professional…

Trump urges Saudis to list Aramco on NY stock exchange

WASHINGTON: US President Donald Trump on Saturday urged Saudi Arabia to choose Wall Street as a venue for the initial public offerings of shares of oil giant Aramco in 2018. "Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!" Trump tweeted from Hawaii, ahead of a trip to Asia. The Aramco IPO is expected to be the largest in history, raising around $100 billion in much-needed revenue for the kingdom. Aramco, which controls Saudi…