Monday, May 17, 2021

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Another Turkish cryptocurrency exchange collapse amid crackdown

A second cryptocurrency exchange has collapsed in Turkey amid a crackdown on the industry. The platform, Vebitcoin, said in a brief statement on its website that it has ceased all activities after facing financial strain and that it would update clients on...

Ireland stops anonymity in trading of cryptocurrency

BUYERS and sellers of Bitcoin and other cryptocurrencies are no longer able to trade virtual assets anonymously in Ireland under an expanded anti-money laundering regime. As of today, cryptocurrency service providers in Ireland will have to comply with money laundering rules and other basic...

Reports find 270 addresses laundered 55% of cryptocurrency linked to criminal activity

Criminals who keep their funds in cryptocurrency tend to launder funds through a small cluster of online services, blockchain investigations firm Chainalysis said in a report last week. This includes services like high-risk (low-reputation) crypto-exchange portals, online gambling platforms, cryptocurrency...

Nigeria’s central bank says it banned cryptocurrency over money laundering concerns

The Central Bank of Nigeria has explained why it banned cryptocurrency-related transactions in the country, claiming the digital currency is used for money laundering and terrorism. The regulator said this in a statement Sunday, days after affirming a 2017 directive to financial...

Founder of RG Coins cryptocurrency exchange gets 10 years in prison money laundering

The owner of a cryptocurrency exchange used to launder millions of dollars gained from fake online auctions has been jailed for 10 years. Rossen Iossifov, the Bulgarian owner of RG Coins, was sentenced for his role in laundering criminal proceeds...

U.S. SEC sues John McAfee over promotion of “worthless” cryptocurrency ICO

The U.S. Securities and Exchange Commission (SEC) on Monday sued John McAfee, creator of the eponymous anti-virus software, alleging that he made over $23.1 million in undisclosed compensation from recommending seven cryptocurrency offerings on Twitter that were materially false...

BitMEX cryptocurrency founders charged with violating anti-money laundering laws

U.S. prosecutors on Thursday filed criminal charges accusing four founders and executives of BitMEX, one of the world’s largest cryptocurrency derivatives exchanges, of evading rules designed to stop money laundering. The Department of Justice charged Arthur Hayes, Samuel Reed and...

U.S. files suit to seize cryptocurrency accounts linked to North korea

U.S. authorities on Thursday moved to seize 280 cryptocurrency accounts they said were used by North Korean hackers who stole more than a quarter of a billion dollars from cryptocurrency companies around the world, including one in the U.S. The...

US charges AirBit Club for running cryptocurrency Ponzi scheme

The operators of a global cryptocurrency-based Ponzi scheme have been charged with fraud and money laundering following a United States Homeland Security Investigations probe. According to an announcement from the U.S. Department of Justice, four of the five alleged operators of AirBit Club,...

Political lobbyist Jack Abramoff pleads guilty to cryptocurrency ICO fraud

Notorious political lobbyist Jack Abramoff has pleaded guilty to charges of conspiring to defraud investors, conspiring to commit wire fraud, and violations of the Lobbying Disclosure Act relating to the 2018 initial coin offering (ICO) for AML BitCoin. Abramoff pleaded...

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Former Rockbridge County jail superintendent gets 51 months in prison for corruption

The former superintendent of the Rockbridge County Regional Jail has been sentenced to 51 months in federal prison for...
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