Market Watch | Bitcoin | $10,867 | 7 day: +8.1% | | Ethereum | $366 | 7 day: +8.7% | | All crypto | $348b | 7 day: +8.7% | | Bitcoin dominance | 57.6% | 7 day: unch | Prices as of 5 p.m. EDT
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 Mark Cuban Mark Cuban-backed eSports project Unikrn has settled an SEC charge. Substantially all of its assets will go into paying the settlement. It will wind down and cease operations. - Cuban had invested in Unikrn in 2015, two years before its initial coin offering (ICO). He mentioned his investment in passing on Shark Tank and supported the project from 2015 through 2017. Around the time of the ICO, he distanced himself from the project.
- Between June and October 2017, Unikrn raised approximately $31m through its ICO of UnikoinGold (UKG) tokens.
- UKG tokens hit a high of $2 in January 2018. They were trading below one cent yesterday.
- Class action lawsuits against the project started in 2018.
- The SEC subsequently charged the project with conducting an unregistered securities offering.
- Unikrn agreed to settle the charges by paying a $6.1m penalty, substantially all of the company's assets.
- The SEC says that UKG tokens were investment contracts, which constituted securities.
- The SEC advises all digital asset trading platforms to delist UKG tokens immediately.
- Ethereum co-founder Anthony Diiorio had served as a Board member at Unikrn in 2017.
- Blockchain Capital, Dan Morehead's Pantera Capital, and Tim Draper's Dragon Fun also participated in the ICO.
SEC 
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Crypto has grown rapidly in India since March, when the country's supreme court overturned its cryptocurrency ban. - Reports indicate substantial growth in crypto trading. Other groups are attempting to limit trading.
- Indian cryptocurrency exchange WazirX (acquired by global crypto exchange Binance) has reopened, as have ZebPay, Bitbns, and CoinDCX.
- The Indian government has queued up 33 bills in its parliament, with 22 on the floor for the session beginning on September 14. Industry participants hope to add more crypto-friendly laws to the country.
- Demand continues growing despite fiat withdrawals delays and a recession (India's GDP shrank by an annualized -23.9% in the April-June quarter).
CoinTelegraph
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 Bank of France Governor FranΓ§ois Villerov de Galhu The European Central Bank (ECB) continues debating the creation of a digital Euro. - During a virtual panel hosted by Deutsche Bundesbank on September 10, Bank of France Governor François Villerov de Galhu discussed increasing digital payments usage. He admitted that the European ecosystem is already relying on non-European currency alternatives. He argues that Europe needs to make urgent decisions regarding a Central Bank Digital Currency (CBDC).
- The ECB's governing council expects to discuss the advantages and challenges associated with the digital Euro project in the coming weeks, according to Bank of France Governor Galhu. The Committee will hold a meeting once a panel of experts completes their background research.
- ECB President Christine Lagarde also spoke on the same virtual conference with Jens Weidmann, President of the German Federal Bank. She mentioned the risks posed by private payment systems that are prompting the ECB to consider issuing a digital euro. In her speech, Lagarde accepted the utility and advantages offered by the digital euro for retail payments, in theory. She considered it complementary and not a substitute for cash.
Coindesk
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Tether announces two chain swaps for ERC-20 conversions. - On Sept. 14, Tether announced on Twitter that the USD-pegged stablecoin issuer will perform two chain swap in coordination with an unnamed third party to convert TRON-based USDT and make it ERC-20 compatible.
- A total of 1B USDT tokens will undergo the conversion from TRON to Ethereum's ERC-20 blockchain, which is approximately 7% of its total supply. The chain swap will be executed today and will be the second-largest swap in Tether's history.
- Tether's first major chain swap took place on August 20.
- For a deep dive into Tron (TRX) and its contentious founder Justin Sun, check out our premium edition of Inside Cryptocurrency here.
- Tether is in the middle of a significant legal battle in New York.
Tether
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 FATF Report FATF recommends user profiling to identify illegal crypto activity. Most cryptocurrency industry participants know of FATF due to its onerous Travel Rule, a requirement that financial money transmitters must send identifying information about the sender along with any money transfer valued at $3,000 or more. - The Financial Action Task Force (FATF) has recommended profiling cryptocurrency users to better identify unlawful activities, according to its September 14 report.
- FATF report states that certain behaviors and patterns, such as the available wealth of a particular user, can be flagged with inconsistent deposits or transactions. These can serve as red flags for regulators to conveniently identify potentially illicit activities of a cryptocurrency user.
- FATF also mentioned the misuse of crypto exchanges that do not require Know Your Customer (KYC) and/or Anti-Money Laundering (AML) features to perform illegal activities or evade regulation.
Financial Action Task Force
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Quick Hits: - MicroStrategy (NASDAQ:MSTR) has bought another $175m worth of bitcoin. It now owns a total 38,250 BTC, purchased for $425m inclusive of fees.
- Crypto.com launched an Ethereum-based DeFi swap platform on September 11, shortly after Binance exchange launched a similar product. The new product will allow users to swap and yield farm DeFi coins. Liquidity providers will receive incentives for their contribution to liquidity pools.
- Bitcoin energy consumption has been falling consistently in the last few months, according to Digiconomist's new study. The study says the figure has been reduced to 68 TWh from 73 TWh (approximate figures) since November 2019. Nevertheless, bitcoin's energy consumption would rank as the 42nd largest country.
- Cho Eun-hee, mayor of the South Korean district of Seocho, proposed on September 10 the use of a blockchain-based voting platform to enable citizens to voice their opinions.
- Fan Yifei, Deputy Governor of the People's Bank of China (PBoC), discussed some regulatory principles for the upcoming digital yuan (renminbi) in a September 14 interview. Deputy Governor Fan said that the digital yuan will be legally compensatory to fiat and categorized as "narrow money" (known as "M0" in economics).
- Finance ministers from five European Union member states — France, Germany, Italy, Spain, and the Netherlands — issued a joint statement to preserve EU’s regulatory framework for stablecoins during a meeting in Berlin on September 11. French Finance Minister Bruno Le Maire said the EU is awaiting the advice of a Commission before deciding on precise regulations. He is concerned about preventing cryptocurrency misuse in money laundering and terrorist organizations.
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 |  | Written and curated by wide-eyed bitcoin watcher since $1, Aaron Wise. Streaming headline junkie, Associated Press fanboy, eye-strained news terminal watcher, 2017 founder of Cryptocurrency Newsfeed. Temporarily based in Florida while awaiting the construction of cryptopia. |  | | Editor | Edited by Eduardo Garcia in New York. Eduardo is a graduate of the Columbia Journalism School M.A. Science program and writes regularly for the New York Times Climate Fwd: newsletter. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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