Tag: Regulation

UK Financial Regulators Proposing Mandatory Monthly Financial Crime Reports from Crypto Exchanges & Wallet Providers

UK Financial Regulators Proposing Mandatory Monthly Financial Crime Reports from Crypto Exchanges & Wallet Providers

The UK Financial Conduct Authority (FCA) is seeking to introduce a new requirement for crypto exchanges and wallet providers operating within its jurisdiction to combat money laundering, which they believe runs rampant in the crypto industry. The REP-CRIM financial report was first rolled out in July 2016 and it was compulsory for selected firms to […]

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Major 2017 Bitcoin Scam Defendant MIA; CFTC Proposing More Than $500 Million in Penalties

Major 2017 Bitcoin Scam Defendant MIA; CFTC Proposing More Than $500 Million in Penalties

The man responsible for an alleged crypto Ponzi scheme back in 2017, Benjamin Reynolds, may be charged with $572 million in penalties for the fraudulent scheme, that is, if the US Commodity Futures Trading Commission (CFTC) can locate him. Reynolds, Director of UK-based firm Control Finance which has ceased operations since 2017, failed to turn […]

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US Department of Justice Confiscates Millions in Crypto Used to Fund Terrorism

US Department of Justice Confiscates Millions in Crypto Used to Fund Terrorism

The US Department of Justice (DOJ) has reportedly seized assets used to fund three terrorism campaigns, namely the al-Qassam Brigades, Hamas’s military wing, al-Qaeda, and the Islamic State of Iraq and the Levant (ISIS), of which includes millions worth in cryptocurrency stashed in over 300 digital wallets. The DOJ also confiscated four websites and four […]

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Germany Begins Closing Down All Unlicensed Bitcoin ATMs

Germany Begins Closing Down All Unlicensed Bitcoin ATMs

Why do I have to complete a CAPTCHA? Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. What can I do to prevent this in the future? If you are on a personal connection, like at home, you can run an anti-virus scan on your device to […]

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South African Bitcoin Investment Company Faces Fresh Scam Allegations

South African Bitcoin Investment Company Faces Fresh Scam Allegations

FX Choice, a forex and crypto trading company, is making new allegations that South African bitcoin investment company, Mirror Trading International (MTI) is a multi-level marketing scam.The company says it uncovered this after researching into MTI, a firm that claims to have “118,027 members in 192 countries” and ostensibly sees “12,879.70 Bitcoin in trade daily.”The […]

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Government Official Updates Progress of India’s Cryptocurrency Law

Government Official Updates Progress of India’s Cryptocurrency Law

A government official has reportedly confirmed that a “note” regarding the legal framework for cryptocurrency in India has been forwarded to related ministries for inter-ministerial discussions. It would then be presented to the cabinet for approval.Status of Indian Crypto BillIndia’s cryptocurrency bill is back in the limelight on Tuesday after Moneycontrol reported on a “note” […]

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China Never Banned Bitcoin as Commodity, Beijing Arbitration Commission Explains

China Never Banned Bitcoin as Commodity, Beijing Arbitration Commission Explains

The Beijing Arbitration Commission has published an article clarifying that bitcoin’s use as a commodity has never been banned in China. It explains that the Chinese authorities’ attitude toward controlling bitcoin revolves around three areas.China Recognizes Bitcoin as CommodityThe Beijing Arbitration Commission published an article on the legal nature of bitcoin in China on Thursday. […]

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Putin Signs Law Giving Cryptocurrency Legal Status in Russia

Putin Signs Law Giving Cryptocurrency Legal Status in Russia

Russia’s invoice to regulate cryptocurrencies has been signed into guidelines by President Vladimir Putin. The glossy guidelines offers correct model dwelling to cryptocurrency nonetheless prohibits its use as a strategy of cost.Russian Crypto Bill Signed Into LegislationRussian President Vladimir Putin signed into guidelines Friday the invoice that regulates digital financial asset (DFA) transactions, Russian media […]

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US Court Dismisses Claims Against XRP: Report Shows Ripple Paid Moneygram $15.1M in Q2

US Court Dismisses Claims Against XRP: Report Shows Ripple Paid Moneygram $15.1M in Q2

The Northern California District Court finds that claims against Ripple Labs and its token made by two customers can no longer be confirmed.The handsome dispute, which began in May per chance well additionally 2018, pitted Ripple Labs including CEO Brad Garlinghouse and disgruntled customers.In accordance with a file, the discontented customers wished the court docket […]

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