📰 Crypto News of the Day : Pro Poker Player in Embezzlement, Thailand Considers Amending Crypto Regulations, Poloniex Under New Stewardship

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👹Pro Poker Player Embezzles $22M, Spends Mostly on Crypto

Dennis Blieden, a professional poker player and a former executive at digital marketing company StyleHaul, has pled guilty to charges that he embezzled $22 million from his employer.

With the stolen money, Blieden reportedly used $1.2M for poker, $1.1M to pay off credit cards, while $8.5M was transferred to his cryptocurrency accounts.

Initially indicted and taken into federal custody in July 2019, Blieden will now face a statutory maximum sentence of 22 years in federal prison.

🧾 Thailand Considers Amending Existing Regulations for Crypto

According to reports in local media today, Thailand’s Securities and Exchange Commission (SEC) plans to amend its digital asset business regulations next year.

Secretary-general of SEC said: "Laws should not be outdated and should serve market needs, especially for new digital asset products, and be competitive with the global market. We need to explore any possible obstacles."

At the moment, five crypto companies and three brokers have been licensed to operate in Thailand.

🤑Poloniex Sees Bump in Market Share Under New Stewardship

Poloniex, the cryptocurrency exchange formerly helmed by Circle, is seeing signs of relief following its acquisition by new leadership.

For most of 2019, Poloniex hovered around 1% market share and since it's spin-out, it's market share has increased to nearly 2%.

However, analysts are skeptical if Poloniex will be able to sustain this newfound market share, as it is likely a result of Poloniex's 0% trading reduction initiative which is slated to end on 31st December 2019.