Crypto News Briefs: Australia Comes After BPS and Qoin, Bithumb Ex-Chair Faces 8 Years in Prison, Canaan Launches New Series, Art Project in Support of Ukraine
Source: AdobeStock / Song_about_summer Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today&rsquo ;s crypto news . __________ Legal news Australian regulators are suing crypto asset company BPS Financial for alleged misleading statements about its crypto asset Qoin . The Australian Securities and Investments Commission (ASIC) said in a statement that BPS made misleading representations and engaged in unlicensed conduct in relation to Qoin, a digital currency it launched in 2019 and which it claimed can be used for payments for goods and services from an increasing number of merchants registered with BPS. South Korean prosecutors are reportedly seeking an eight-year prison sentence for the former chairman of the Bithumb crypto exchange, Lee Jung-hoon, in the $70 million fraud case. The prosecution asked for that sentence arguing that the damage inflicted was significant, Yonha...