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SEC issues halt order against Gaza's Xian Coin - BusinessWorld Online bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
BusinessWorld June 7, 2021 | 12:06 am THE Securities and Exchange Commission (SEC) flagged Xian Coin, which is an unregistered âdigital currencyâ promising big returns with Christian Albert Gaza or Xian Gaza as the sole issuer. Xian Coin is said to be a centralized digital currency powered by the Etherium Blockchain traded exclusively by its coin holders. A blockchain or distributed ledger is a âpeer-to-peerâ database across computer networks, recording transactions that may never be altered. âUnlike other digital assets which are decentralized and use consensus [mechanisms] such as proof-of-work/proof-of-stake or mining and whose value is dependent on supply and demand, Xian Coin is centralized, pre-mined or generated and whose supply and purported value is controlled by Xian Gaza,â the SEC said. ....