• Ruja Ignatova, also known as the Crypto Queen, is a Bulgarian-born German citizen and crypto entrepreneur who is wanted by the FBI for her involvement in a Ponzi scheme involving her company, OneCoin.
• A luxurious London penthouse apartment recently posted for sale in the Kensington district of England has brought Ignatova back into the spotlight, as it is suspected that the proceeds from the sale may be used to repay the victims of OneCoin.
• Senior prosecutor Gerald Ruebsam is hopeful that the funds from the sale of the London penthouse may be used to repay the victims of OneCoin.

Ruja Ignatova, also known as the Crypto Queen, is a Bulgarian-born German citizen and crypto entrepreneur who is wanted by the FBI for her involvement in a Ponzi scheme involving her company, OneCoin. Ignatova had presented her company, OneCoin, as a profitable competitor to Bitcoin in the expanding cryptocurrency sector. But in October of 2017, Ignatova suddenly disappeared from public view.

Investors had been eager to capitalize on the emerging trend of Bitcoin in June 2016. But it was not until October of 2017 that the 42-year old crypto entrepreneur was in the initial stages of what would become a $4 billion Ponzi scheme. OneCoin was a phony cryptocurrency, and its founder, Ignatova, has been missing for five years and is currently on the FBI’s 10 Most Wanted list. She is also one of Europe’s most sought fugitives.

Recently, a luxurious London penthouse apartment was advertised as for sale on the market, and it appears that the “missing crypto queen” was organizing the sale from underground. According to sources, the penthouse apartment in the London district of Kensington, England, was posted for sale some days ago for $15.5 million, then lowered to $13.6 million.

Senior prosecutor Gerald Ruebsam is hopeful that the funds from the sale of the London penthouse may one day be used to repay the victims of OneCoin. He said: “It’s not clear yet whether money will go to OneCoin investors, we have to wait and see how things develop.” He believes that the proceeds from the sale of the London penthouse may be used to help the victims of the OneCoin scheme.

Ruebsam also noted that it is possible that the penthouse sale was not linked to Ignatova and the OneCoin scheme, but that it could have been a regular transaction. He said: “There is nothing to suggest that this is a suspicious transaction.”

Regardless, the sale of the penthouse apartment has renewed speculation about the whereabouts of Ignatova and has brought her back into the spotlight. It is still unclear if the funds from the sale of the penthouse will be used to repay the victims of the OneCoin scheme. Only time will tell.

• South Africa has recently released new guidelines for cryptocurrency advertisements in order to protect consumers from unethical advertising.
• These new guidelines mandate that crypto advertisements must clearly state that investments may result in the loss of capital, and must include well-detailed and easily understandable explanations for the targeted audiences.
• Crypto adverts must also give balanced messages around returns, features, benefits, and risks related to the associated product or service.

The South African Advertising Regulatory Board (ARB) recently released updated guidelines to protect consumers within the cryptocurrency advertisements sector. This new code of advertising practice is meant to ensure that consumers are not subject to unethical advertising and that they are aware of the risks associated with investing in cryptocurrency products and services.

The guidelines state that any advertisement regarding cryptocurrency products or services must be clear and express that investments may result in the loss of capital. This is because the value of cryptocurrency is variable and can go up or down. Furthermore, advertisements must not sugar coat any warnings associated with potential investment losses.

The guidelines also ensure that advertisements are detailed and easily understandable for their targeted audiences. They must provide balanced messages about returns, features, benefits, and risks associated with the product or service being advertised. This includes informing consumers about any fees or commissions associated with using the product or service.

In order to ensure that these guidelines are followed, the ARB has set up a monitoring system to keep track of advertisements being released. If a company or individual is found to be in violation of the guidelines, they will be subject to disciplinary action.

The ARB hopes that these new guidelines will help protect consumers within the cryptocurrency sector and ensure that they understand the risks associated with investing in cryptocurrency products and services. By providing clear and accurate information, consumers can make informed decisions when investing their money.

• Australian crypto executives have warned against classifying all cryptocurrencies as financial products under the law.
• Stephen Jones, Assistant Treasurer and Minister of Financial Services, mentioned that the country’s regulatory framework on digital assets will be introduced in 2023.
• Jones also mentioned that the government is not keen on structuring an entirely new set of rules for crypto, which fundamentally shares the same characteristics as a financial product.

The crypto industry in Australia has experienced a period of uncertainty as the government and crypto executives have been in disagreement on how digital assets should be regulated in the country. On January 22, Stephen Jones, the Assistant Treasurer and Minister of Financial Services, made a statement about the country’s regulatory framework on digital assets in an interview with the Sydney Morning Herald. In response, Australian crypto executives have issued warnings regarding classifying all cryptocurrencies as financial products under the law.

Jones noted that the government was on the path to introducing ‘token mapping’ as a part of an effort to bring in legislation to regulate the digital asset sector in 2023. This token mapping system is expected to be the first step towards regulating crypto assets and will be followed by a consultation process within the industry. Jones also mentioned that the government is not keen on structuring an entirely new set of rules for crypto, which fundamentally shares the same characteristics as a financial product. Jones said, “I don’t want to pre-judge the outcomes of the consultation process we are about to embark on. But I start from the position that if it looks like a duck, walks like a duck, and sounds like a duck, then it should be treated like one.”

In addition, Jones highlighted that “Other coins or other tokens are essentially used as a store of value for investment and speculation. There is a good argument that they should be treated like a financial product.” This statement by the minister has caused concern in the crypto industry, as the executives worry that the financial products regulation could be too restrictive for the sector.

As the government prepares to introduce regulations on digital assets in Australia, crypto executives have urged the government to take into account the unique characteristics of cryptocurrencies while formulating the regulatory framework. The sector is hoping to see a regulatory approach that will provide an environment conducive for the sustainable growth of the industry, while ensuring that all investors and stakeholders are protected.