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Russia’s Digital Currency Measures Fail to Satisfy FATF, Blacklist Possible
17.10.2024
Russia’s financial regulator maintains that its anti-money laundering system, including strengthened virtual currency regulations, remains effective even if the country faces potential blacklisting by the Financial Action Task Force (FATF). The agency highlighted new federal laws addressing...
DOJ Charges 21-Year-Old in $37M Cyber Intrusion and Crypto Heist
4.10.2024
A 21-year-old from Indiana has pleaded guilty to cyber intrusion and cryptocurrency theft in a massive scheme targeting hundreds of victims. His actions involved stealing personal data and cryptocurrency worth over $37 million, with law enforcement crediting significant investigative efforts...
China Urged to Establish Unified Crypto Regulations for Seized Digital Assets
5.9.2024
A law professor at the East China University of Political Science and Law has highlighted the urgent need for China to standardize procedures for recovering illicit digital assets due to a rise in cryptocurrency-related crimes. He stressed the lack of uniform standards complicates asset recovery...
Japan’s Financial Services Agency Includes Crypto in 2025 Tax Proposal
4.9.2024
The Financial Services Agency has released its tax reform requests for fiscal year 2025, highlighting the need to consider the tax treatment of virtual currency transactions as financial assets. This marks the first time virtual currencies are mentioned in such requests. Industry groups have long...
Chinese Police Arrest Six Suspects in $300 Million Cryptocurrency Money Laundering Case
13.5.2024
The Public Security Bureau of Panshi City in Jilin Province has cracked down on an illegal operation involving underground banks and virtual currencies.
The post Chinese Police Arrest Six Suspects in $300 Million Cryptocurrency Money Laundering Case appeared first on Cryptonews
Report: Taiwan Police Arrest Crypto Exchange Bosses Accused of Fraud
7.1.2024
The police in Taiwan recently arrested two individuals who are accused of deceiving 100 investors into buying fake virtual currencies. The police also apprehended 14 other participants in the fraud scheme and recovered more than $7 million in both cash and virtual currencies. Worthless Virtual...
S Korean City of Incheon Seizes $375,000 Worth of Crypto from ‘Tax Dodgers’
4.1.2024
Source: JYPIX/Adobe South Korea’s Incheon says it has confiscated $375,000 worth of cryptoassets from “tax-evading” residents who tried to hide their earnings in token wallets. Per the media outlet Newsis, the city collected the combined sum from 298 people. The media outlet noted that the city...
While Bitcoin (BTC) Holds Firm above $43,000, The Graph (GRT) and InQubeta (QUBE) Prepare for Big Shifts
7.12.2023
Within the constantly changing world of virtual currencies, Bitcoin is notable for its stability. Bitcoin has remained largely unaffected by recent market swings, with the best cryptocurrency holding firm currently trading above $43,000. A number of factors, such as institutional adoption, limited...
NYDFS Releases New Guidelines on Listing and Delisting Crypto on Trading Platforms
16.11.2023
Source: NYDFS The New York State Department of Financial Services (NYDFS), the authority that supervises and regulates activities of financial institutions in the State of New York, has released a guidance that regulate the listing and delisting of cryptocurrencies. The updated guidance, named...
Crypto’s 24-Hour Score: Gainers Like Memecoin Triumph With Double-Digits, ARK Amongst Top Losers
13.11.2023
As the cryptocurrency market sails smoothly at a valuation of $1.4 trillion, bitcoin and ethereum have stabilized, mostly moving sideways. Yet, a handful of virtual currencies enjoyed robust gains on Monday, with memecoin (MEME) soaring 44.28%, leading the charge as the week kicked off. Conversely...
Indian Supreme Court Dismisses Plea Seeking Crypto Trading Regulations
13.11.2023
Source: Pexels The Indian Supreme Court on Friday declined to entertain a petition seeking to establish guidelines on crypto regulations. Cryptocurrencies, decentralized digital or virtual currencies operating independently of a central bank, have faced ongoing discussions regarding their...
Web3 wallet Backpack to launch VASP-licensed crypto exchange in Dubai
31.10.2023
The Backpack exchange has bagged operational licenses across several jurisdictions worldwide over the past five months, according to the company announcement
Kuwait Capital Markets Authority Reaffirms Comprehensive Crypto Asset Ban
20.7.2023
In a circular released by the Capital Markets Authority of Kuwait, the regulator reaffirmed its position that Kuwait strictly prohibits the use of virtual currencies and bans mining activities within the Gulf state. The authority also emphasized the importance for businesses to inform customers...
Taiwan’s Financial Supervisory Commission Set to Regulate Country’s Virtual Assets Industry
21.3.2023
Taiwan’s Financial Supervisory Commission is set to be announced as the body that will oversee and regulate the virtual asset industry. According to a report, the collapse of crypto exchanges like FTX prompted Taiwanese officials to seek ways of protecting users against similar events should...
Snow Crash manuscript that coined the term ‘Metaverse’ to be auctioned by Sotheby's
23.2.2023
The manuscript is part of a larger series of physical and digital items related to the famous book
Hong Kong securities regulator adds crypto personnel for industry supervision
6.2.2023
Regulators in Hong Kong plan for the addition of personnel in order to “better supervise” activities of local virtual asset providers
Bank of Thailand to allow first virtual banks by 2025
15.1.2023
By allowing virtual banks, Thailand seeks to boost competition and economic growth
Hong Kong to subject crypto exchanges to the same laws governing TradFi
8.12.2022
The new legislation will bring a licensing regime for the virtual asset service providers requiring them to pass strict AML and money laundering guidelines
Metaverse is a new frontier for earning passive income
28.11.2022
Those looking to earn passive income in the metaverse have several available options, but how profitable and durable these are isn’t yet clear
IRS Updates Crypto-Related Instructions for 2022 Tax Filing
25.10.2022
The Internal Revenue Service (IRS) has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins,” the tax agency detailed. New...