Saturday, June 19, 2021

Technology

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...

Turkey arrests four people linked to crypto exchange Vebitcoin in fraud probe

Turkish authorities arrested four people from cryptocurrency exchange platform Vebitcoin on Monday as part of a fraud investigation, state-owned Anadolu news agency said. Authorities had previously blocked the onshore bank accounts of Vebitcoin after the company said it had stopped...

Turkey probes Thodex crypto exchange over alleged $2 billion fraud

Turkish prosecutors launched an investigation into a cryptocurrency exchange Thursday over allegations it may have defrauded some 390,000 investors of an estimated $2 billion. The office of Istanbul’s chief prosecutor said it was probing the Thodex cryptocurrency exchange following complaints...

Former BitMEX CEO Arthur Hayes surrenders to U.S authorities in Hawaii

Former BitMEX CEO Arthur Hayes surrendered to United States authorities in Hawaii on Tuesday, six months after federal prosecutors first levied charges against him and three fellow BitMEX executives. In a statement, Hayes’ lawyers described the Singapore resident as “a self-made entrepreneur...

DeepDotWeb administrator pleads guilty to money laundering

Tal Prihar, an Israeli citizen extradited to the U.S., pleaded guilty in federal court Wednesday to conspiracy to commit money laundering for his role in running the defunct “DeepDotWeb” website. Prihar faces up to 20 years in prison after prosecutors...

Swiss rejects bitcoin’s application for banking license over anti-money laundering laws

Cryptocurrency firm Bitcoin Suisse has withdrawn its application for a banking license, in part because it failed to meet the anti-money laundering requirements of the Swiss financial regulator. “The application process has shown the need for further reviews of the...

BitMEX co-founder Ben Delo surrenders to U.S authorities over violations of anti-money laundering laws

One of the founders of pioneering crypto-derivatives exchange BitMEX surrendered to authorities to face charges that he schemed to avoid U.S. anti-money laundering laws. Benjamin Delo, who traveled to New York from the U.K., was arraigned before U.S. Magistrate Judge Sarah L. Cave...

South Korean crypto exchange operator Bithumb bans users over money laundering concerns

Bithumb, a South Korean cryptocurrency exchange operator, said Tuesday that it has put restrictions on crypto trading accounts held by users staying in regions that have not adopted anti-money laundering measures. A total of 21 nations are currently on the...

Anti-virus creator John McAfee charged with securities fraud

John McAfee has been charged with securities fraud over a “pump and dump” cryptocurrency scheme. Federal prosecutors unsealed a case against McAfee and his executive advisor and bodyguard Jimmy Gale Watson Jr., claiming the pair earned nearly $2 million by urging Twitter followers...

Rise in bitcoin ATM create opportunities for money launderers

Cryptocurrency ATMs have seen a surge in interest amid this year's Bitcoin frenzy, fuelling concerns the machines could be exploited by "money mules" looking to wash criminal cash. Installed in shops, petrol stations and even strip clubs, the machines swap...

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