Category: Regulation
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Biden Administration May Roll Back Some Crypto Regulations, Top Banking Regulator Warns
The top U.S. banking regulator is concerned that the Biden administration may roll back some cryptocurrency regulations aimed at protecting consumers. This includes allowing national banks to custody crypto assets put in place during the Trump administration. Biden Administration Could Change US Crypto Regulations Acting Comptroller of the Currency, Brian Brooks, shared several concerns regarding…
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Russian Parliament Foresees a Wave of Token Issuance for 2021 in the Wake of Crypto Law Promulgation
The head of the Russian parliamentary committee on financial markets and the country’s first crypto law’s author is forecasting a “surge in token issuance” for 2021 in the wake of the promulgation expected to take place in January. Russian Parliament Expects a ‘Surge in Token Issuance’ for 2021 After Crypto Law Promulgation According to the…
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The US SEC Fines Shipchain $2 Million for Conducting an Unregistered Token Offering: Company Agrees to Cease Operations
The US Securities and Exchange Commission (SEC) has issued a cease and desist order against Shipchain and ordered it to pay a penalty of $2.05 million. Additionally, the regulator has directed Shipchain, a shipping and logistics company, to transfer Ship tokens in the possession or control of the company’s directors to a “fund administrator.” Unregistered…
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Localbitcoins Trader Facing up to 40 Years in Prison Over Bitcoin Fraud Schemes
A trader on Localbitcoins and Paxful has pleaded guilty to charges in connection with a couple of bitcoin scams. The U.S. Department of Justice alleges that the trader knowingly sold bitcoin to victims of fraudulent schemes. Bitcoin Trader Facing Jail Time The U.S. Department of Justice (DOJ) announced last week that a Boston man has…
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Electronic Frontier Foundation: US Government Will Expand Financial Surveillance Through FinCEN’s Proposed Crypto Wallet Rules
The Electronic Frontier Foundation (EFF) raised concerns about the strengthening financial surveillance through the proposed crypto regulations announced by the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). The Nonprofit Organization Is Concerned About New Rules on Self-Hosted Crypto Wallets Proposed by FinCEN According to the nonprofit organization based in the United States, the FinCEN is…
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Indian Police Bust International Bitcoin Extortion Rackets, 96 Arrested
Ninety-six people have reportedly been arrested in India for allegedly extorting bitcoin from foreigners. They set up illegal call centers, posed as police officers, and told the victims that their bank accounts had been used in illegal transactions. They also threatened to immediately arrest the victims and freeze their assets. Bitcoin Extortionists Arrested in India…
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Indian Police Bust International Bitcoin Extortion Rackets, 96 Arrested
Ninety-six people have reportedly been arrested in India for allegedly extorting bitcoin from foreigners. They set up illegal call centers, posed as police officers, and told the victims that their bank accounts had been used in illegal transactions. They also threatened to immediately arrest the victims and freeze their assets. Bitcoin Extortionists Arrested in India…