Blackmoon (BMC) (announced August 9, 2017) is a cryptocurrency that functions on the Ethereum platform. The Blackmoon cryptocurrency offers a vision for a new standard for tokenized investment vehicles that will bridge the gap between the world of fiat and cryptocurrencies.
Blackmoon Financial Group is a ﬁnancial technology and investment management company incorporated in Ireland that has been operational since August 2014, having its roots in venture capital investments in ﬁnancial technology since 2012. The company is lead by Oleg Seydak who is an entrepreneur, ﬁnancial technology investor, founder of Blackmoon Financial Group, and former co-founding partner of Flint Capital.
Blackmoon (BMC) cryptocurrency had rightly described itself as the connecting link between the fiat money and cryptocurrency. Blackmoon (BMC) development team is located in Cyprus. The Blackmoon (BMC) aims at creating and maintaining the world's best framework for tokenized funds and to deliver investment opportunities in both the real world and crypto economies.
Blackmoon (BMC) is an ERC20 token created on the Ethereum platform. The ticker symbol of Blackmoon cryptocurrency is BMC and it has a maximum supply of 60 Million coins. HitBTC is the current most active market trading it.
Blackmoon (BMC) cryptocurrency had suspended operations for seemingly technical reasons. Blackmoon CEO Oleg Seydak told CoinDesk that high regulatory compliance costs were the reason for the exchange’s closure.
“After in-depth analysis, we concluded that running a crypto exchange in compliance with all modern [European Union] regulation including the Fifth Anti-Money Laundering Directive and licensing requirements (that are constantly changing unpredictably and unfavorably) is not competitive to unregulated alternatives that are available in the market at the moment,” - Oleg Seydak (CEO Blackmoon)
It was reportedly stated that the exchange platform was suspended and a crypto converter was made available for Blackmoon (BMC) token holders in a bid to convert their BMC tokens to USDC stablecoins.
Blackmoon Crypto, registered in the Cayman Islands was initially a marketplace for Ethereum tokens backed by shares in mainstream companies like Lyft. Previously, Blackmoon cryptocurrency boasted a modest 3,800 users before its suspension. But hopes were high as Blackmoon (BMC) was set to boost this number dramatically with a unique offer: as soon as Telegram’s TON blockchain launched, Blackmoon planned to become the first official marketplace for its tokens, called grams.
The exchange partnered with Gram Vault, a Swiss custodian founded especially for holding yet-to-be-issued grams, and that it had some big investors in Telegram’s TON $1.7 billion token sales as clients.
Another recent development has begun to make Blackmoon's hope on the $GRAM a dream as Telegram's TON is also suspended. After years of drama with the U.S. Securities and Exchange Commission (SEC), Telegram is calling it quits on its crypto-focused subsidiary, Telegram Open Network (TON). Founder and CEO of Telegram wrote:
“Telegram’s active involvement with TON is over,”- Pavel Durov
He stated this in an announcement on his channel. Pavel Durov also warned that:
“You may see – or may have already seen – sites using my name or the Telegram brand or the ‘TON’ abbreviation to promote their projects. Don’t trust them with your money or data.”
Durov spoke out against the ruling in his announcement, arguing that American courts shouldn’t have the power to stop the sale of cryptocurrency beyond US borders, and he urged others to take up the decentralization fight in Telegram’s stead. “This battle may well be the most important battle of our generation,” he wrote. “We hope that you succeed where we have failed.”
Did you find this article interesting?