Category: Regulation

The aftermath of CFTC’s charge against BitMEX: massive withdrawals, fake quotes, more legal action

Following the CFTC’s charge against BitMEX and its operators, the U.S. Department of Justice filed their own charges against the exchange’s four founders and executives for violating the Bank Secrecy Act. Immediately after the charges were brought, the crypto industry became ablaze with conspiracy theories about why the charges were brought now, with fake quotes…

October 3, 2020
Abkhazia Lifts Two-Year Ban on Bitcoin Mining, Moves to Regulate the Sector

Abkhazia, the self-governing but disputed territory of just 245,000 people sandwiched between Russia and Georgia, has lifted its two-year ban on cryptocurrency mining. The ban came into effect in December 2018 after a surge in mining activity left the region facing an energy crisis. Now, the government is moving to regulate the industry in an…

October 3, 2020
Lawyers, execs explain how BitMEX news could help Bitcoin ETF chances

On Thursday, the industry was shocked by the news that leading Bitcoin derivatives exchange BitMEX was formally charged by the U.S. Commodities and Futures Trading Commission (CFTC) over concerns around derivatives and anti-money laundering violations. Simultaneously, the co-founders of the exchange, including Arthur Hayes, were also criminally charged. Making up over a billion dollars of…

October 3, 2020
Data shows most Bitcoin exchanges require negligible KYC

A new report by on-chain analytics firm CipherTrace found out that most Bitcoin and crypto Know Your Customer (KYC) processes can be exploited by money launderers, criminals, and extremists. Now available! Our 2020 Geographic Risk Report: VASP KYC by Jurisdiction is the virtual asset industry’s first comprehensive global KYC risk assessment. https://t.co/fD1RJr5zNu #KYC #AML #CTF…

October 3, 2020
Bitmex Charged With US Rules Violations — Owners Face Criminal Charges, Prison

Cryptocurrency derivatives trading platform Bitmex has been charged with illegally operating in the U.S. Concurrently, its executives, including CEO Arthur Hayes, have been charged with violations of the Bank Secrecy Act and are facing prison sentences. One of the Bitmex founders has already been arrested. Bitmex and Owners Charged in US Federal prosecutors and the…

October 2, 2020
3 reasons why the CFTC action against BitMEX will not crash Bitcoin price

Bitcoin price declined by 4% after the CFTC revealed charges against BitMEX but BTC remains bullish in the long term.

October 1, 2020
ICO Aftermath: US Rules in Favour of SEC in $100M KIK Case – SALT to Reimburse Claimants From 2017 ICO

A US court has ruled in favour of the US SEC after the regulator’s filing of a motion seeking summary judgment against Kik for violating the country securities laws. Kik, which raised $100 million from 2017 ICO, had filed its own motion of summary judgment but the court refused to grant this. In his judgment,…

October 1, 2020
CFTC charges BitMEX with illegally operating an unregistered trading platform

The U.S. Commodity Futures Trading Commission (CFTC) has charged the owners of BitMEX with operating an unregistered trading platform and violating multiple CFTC regulations, including failing to meet required AML procedures. According to the lawsuit, five entities and three individuals were charged, which include Arthur Hayes, the co-founder, and CEO of BitMEX, Ben Delo, the…

October 1, 2020
Chainalysis and Texas firm win million-dollar IRS contract to crack Monero

The IRS has named the winners of its bounty program to track transactions on privacy tokens and layer-2 protocols.

September 30, 2020
French police arrest terror financing ring that used Bitcoin coupons

The terror financing ring reportedly bought cryptocurrency coupons in licensed tobacco shops across France.

September 30, 2020