Category: Regulation
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European Parliament Petitioned to Create Crypto Crime Compensation Fund
A petition has been submitted to the European Parliament, asking to implement a scheme to compensate crypto-related victims. The crimes mentioned in the petition 0421/2020 include fraud, piracy, and extortion. Petition’s Author Represents Victims in the Bitsane Alleged Scam Case According to the author, lawyer Jonathan Levy, the petition asks the bloc to implement a…
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How compliance software detects fraud and money laundering involving crypto
As the crypto markets mature and institutional money flows into the space, technology to detect fraud and money laundering involving digital assets is more important than ever.
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India Seizes Bitcoins Worth $1.2 Million From Hacker of Government Website and Crypto Exchanges
Indian police have seized $1.2 million in bitcoin from a hacker who allegedly hacked a government website, online game portals, and cryptocurrency exchanges. He was previously arrested for stealing $1.5 million from an Indian state government. Indian Police Seize Bitcoins From Hacker The Bengaluru Central Crime Branch (CCB) Police have revealed that bitcoins worth Rs…
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Gold Exceeds U.S. Dollars in Russia’s Reserves as Putin Focuses on De-Dollarization
Russia is now holding more gold than U.S. dollars in its reserves for the first time, according to the latest report by Russia’s central bank. Russian President Vladimir Putin has made de-dollarization his country’s key policy to reduce the Russian economy’s exposure to the U.S. dollar amid heavy sanctions. Russia Now Has More Gold in…
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IMF Says Only 23% of Central Banks Can Legally Issue Digital Currencies
Researchers at the International Monetary Fund (IMF) have examined the central bank laws of 174 IMF members to answer the question of whether a digital currency is really money. They found that of all the central banks studied, only about 23%, or 40 central banks, “are legally allowed to issue digital currencies.” IMF Explores if…
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Crypto Exchange Owner Sentenced to 10 Years in Prison for Multimillion-Dollar Scheme to Defraud Americans
The U.S. has sentenced a cryptocurrency exchange owner to 10 years in prison. He “knowingly and intentionally engaged in business practices designed to both assist fraudsters in laundering the proceeds of their fraud and to shield himself from criminal liability,” the Department of Justice alleges. Crypto Exchange Owner Sentenced to 10 Years in Prison The…
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Dacxi joins self-regulating trade group CryptoUK as executive member
The exchange will unite with Binance.UK, Coinbase, CryptoCompare, Ripple, eToro, and others in leading the association’s strategic direction.