Author: Thomas_Prendergast

US financial watchdog fines early Bitcoin mixer 60M for money laundering

FinCEN has fined the operator of early crypto mixers Helix and Coin Ninja for Bank Secrecy Act violations. The founder and operator of some of the first "mixing" services in crypto will have to cough up $60 million to United States regulators, even as he faces continued criminal charges. The U.S. Treasury's Financial Crimes Enforcement […]

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Vinnik trial for extortion and Bitcoin money laundering begins in Paris

The Russian national linked to the laundering of $4 billion of Bitcoin stolen during the Mt. Gox hack is finally in court. The trial of the alleged launderer of $4 billion worth of Bitcoin (BTC), Alexander Vinnik, got underway in Paris on Monday. However, despite reported links to the 300,000 BTC hack of Mt. Gox […]

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95 of winners in China’s CBDC lottery spent digital yuan prizes

Some winners purchased additional digital yuan during the pilot. The vast majority of China’s $1.5 million digital yuan lottery winners have received and spent their “red envelopes” of digital yuan. As of Oct. 18, a total of 47,573 out of 50,000 lottery winners in China have received their prizes, Shenzhen authorities officially announced on Sunday. […]

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Amid IRS bounty and competitor progress Monero developers ship a major update

A new Monero update brings improvements in performance, speed, and security amid increased scrutiny from law enforcement and developments from competitors First announced in September, Monero developers today went live with a network update featuring a new version of its node software, codenamed 'Oxygen Orion.' The product of 30 contributors, the update promises significant improvement […]

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OKEx founder reportedly under investigation as exchange suspends withdrawals

OKEx founder Star Xu was reportedly questioned by police a week ago. The founder of major global cryptocurrency exchange OKEx has been reportedly questioned by authorities previous to OKEx suspending cryptocurrency withdrawals. OKEx founder Mingxing Xu, also known as Star Xu, has reportedly been questioned by the police, Chinese news agency Caixin reported today. According […]

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Bankless society inevitable’ due to crypto says Morgan Creek CEO

People will be able to “bank themselves” with crypto. A bankless world is inevitable due to the “natural evolution of technology,” according to a top executive at multi-billion dollar investment manager, Morgan Creek Capital. The firm’s CEO Mark Yusko believes that a “silent revolution” powered by cryptocurrencies like Bitcoin (BTC) will eventually lead the world […]

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Five mega exchanges hold 10 of Bitcoin’s entire supply

The Bitcoin ecosystem continues to be dominated by a handful of platforms and companies. Roughly 10.6% of Bitcoin’s (BTC) circulating supply is currently held on just five centralized exchanges, according to data published by Chain.info. More than 1.96 million BTC is currently held between the major exchanges Coinbase, Huobi, Binance, OKEx, and Kraken. Likely owing […]

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Spain’s new bill proposal complicates crypto for citizens

Spain’s new anti-tax fraud bill includes crypto implications. Awaiting parliamentary approval in Spain, a fresh bill draft intends to cut out illegal tax dealings, as first reported by Cointelegraph’s Spanish branch. This could mean smaller business transactions as well as mandatory crypto-asset reporting, even for assets held or transacted internationally. The "Draft Law on Measures […]

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G7 will oppose Libra launch until regulations in place

“No global stablecoin project should begin operation until it adequately addresses relevant legal, regulatory, and oversight requirements.” Countries representing the world’s largest economies said in a draft of a statement that they would initially oppose the launch of Facebook’s Libra project. According to an Oct. 12 report from Reuters, central bankers and finance ministers from […]

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Belgian investors lost 12M to crypto and forex scams last year

Losses due to crypto scams are on the rise in Belgium. Belgium’s financial watchdog has reported scammers stole up to $12 million from investor in the country using fraudulent ads. In an Oct. 5 warning from the Financial Services and Markets Authority (FSMA), the watchdog estimated that investors in Belgium had lost at least 10 […]

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