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Iran Shuts Down More Illegal Crypto Farms, Bringing Total to Over 5,300
11.9.2021
Authorities in Iran are continuing their crackdown on unauthorized cryptocurrency mining as electricity demand remains high. The country’s power utility company has so far closed down more than 5,300 illegal mining facilities, seizing an enormous amount of coin-minting machines. Power...
Bid to Have MTI Ponzi Declared Unlawful Scheme Suffers Setback — More Investors Oppose Motion
11.9.2021
A slew of late court filings by lawyers representing Mirror Trading International (MTI) investors has forced a South African judge to postpone the hearing of the liquidators’ application to have the online bitcoin scam declared an illegal business. Concern Over Implications of Declaration...
Crypto Trading, Mining Are Illegal and Punishable, Nepal Central Bank Warns
10.9.2021
Mining and trading of cryptocurrencies are illegal in Nepal, the country’s central bank has reminded citizens of the Himalayan nation. The regulator also warned that participating in such activities would entail penalties as per the current legislation. Despite its position, however,...
Illegal crypto mining not the cause of power shortages in Iran, ministry says
2.9.2021
Iran’s Ministry of Industry, Mine and Trade questioned Tavanir’s claims that illegal mining activities consume 2,000 megawatts of power
Iranian Ministry of Industries Denies Power Shortages Are Caused by Illegal Crypto Miners
2.9.2021
Iran’s Ministry of Industries, Mining and Trade has rejected claims blaming illegal cryptocurrency miners for the continuing electricity shortages in the country. The department believes the state-run utility company, Tavanir, has overestimated their role in the power deficit. Illegal Miners...
Costa Rican Central Bank: Crypto’s Not Illegal & We Don’t Need a CBDC
19.8.2021
The Costa Rican central bank chief has warned the public about the risks involved with investing in crypto – but also made a point of noting that tokens such as bitcoin (BTC) are “not illegal” in the country.
According to Deporticos, Rodrigo Cubero, the President of the Banco Central de Costa Rica...
People's Bank of China in Shenzhen ‘cleans up’ illegal crypto firms
18.8.2021
The Shenzhen branch of the People's Bank of China launched a special “rectification” program against illegal crypto-related activities, beginning with a crackdown on 11 emerging companies
Ukraine's state security shuts down illegal crypto exchanges
13.8.2021
Ukrainian authorities say the crypto exchanges were involved in money laundering and other illicit financial activities
Malaysia Takes Enforcement Actions Against Binance, Advises Investors to ‘Withdraw All Investments Immediately’
30.7.2021
The securities regulator of Malaysia has taken enforcement actions against the global cryptocurrency exchange Binance. Noting that the exchange is operating illegally in the country, the regulator has advised those who currently have accounts with Binance “to immediately cease trading through...
Mexican Regulator: 12 Cryptocurrency Exchanges Are Operating Illegally
30.7.2021
Santiago Nieto Castillo, leader of the UIF, the Mexican financial regulator, has issued an alert that 12 cryptocurrency exchanges are operating illegally in the country. The regulator is now producing the necessary data for Mexican authorities to act against these exchanges. The institution...
Nigerian Central Bank Stops Forex Sales to Bureaus de Change — Operators Accused of Feeding Black Market
28.7.2021
The Central Bank of Nigeria (CBN) recently announced the abrupt end to sales and outsourcing of foreign exchange to Bureau de Change (BDC) operators after accusing them of failing to stick to their core mandate. Instead of providing forex to retail users, BDCs are believed to be supplying...
Iran Raises Alarm Over Potential Influx of Miners From China
28.7.2021
With the government in Beijing cracking down on their operations, Chinese miners have been on the lookout for other jurisdictions. Providing low-cost energy, Iran has emerged as a prospective destination. However, the country’s state-owned power utility has expressed concerns over a possible...
Ukraine’s ‘Largest Illegal’ Mining Facility May Have Been a FIFA Bot Farm
18.7.2021
A data center busted by Ukrainian law enforcement this month for suspected electricity theft may have had a purpose different from mining cryptocurrencies. Ukraine’s security service described the facility as the “largest underground crypto farm” found to date but media reports...
Malaysia is literally crushing thousands of illegal Bitcoin miners
16.7.2021
It’s unclear why authorities outright destroyed the miners rather than attempting to reap some value, but they could still be sold for scrap
Ukrainian police seize 3,800 PS4 consoles used for illegal crypto mining
12.7.2021
Miners used an empty warehouse of an electricity supply company to plug into the grid and mine crypto on a variety of devices, including gaming consoles
Ukraine Uncovers Country’s Largest Illegal Mining Farm to Date
10.7.2021
The Security Service of Ukraine (SBU) has located a massive coin minting facility that was illegally connected to the power grid in Vinnytsia. Law enforcement officials claim it’s the largest underground crypto mining farm they have found so far. Ukraine Seizes Thousands of Video Game...
Korean investigation finds $1.48B in illegal overseas crypto transactions
8.7.2021
More than 30 people are facing fines and prosecution in South Korea for allegedly contravening the country’s ban on overseas crypto transactions
Ukraine Shuts Down Illegal Mining Farm With 150 Rigs
3.7.2021
Law enforcement officials in Ukraine have closed down a cryptocurrency mining farm that was minting digital coins using stolen electricity. The facility had more than 150 mining rigs that have been confiscated during a raid in Chernihiv region. Authorities in Ukraine Seize Over 150 ASICs From...
‘Doctor Bitcoin’ Pleads Guilty to Running Illegal Crypto Exchange in US, Faces 5 Years in Prison
30.6.2021
A Texas man, who calls himself “Doctor Bitcoin,” has pleaded guilty to running an illegal cryptocurrency exchange business, converting cash to bitcoin. He faces five years in federal prison. Crypto Exchange Operator Pleads Guilty The U.S. Department of Justice (DOJ) announced Tuesday...
Regulators in UK, Japan Issue Warnings on Binance Amid Crackdown on Unauthorized Crypto Exchanges
27.6.2021
Top financial regulators in England and Japan have independently issued warnings on Binance for offering crypto exchange services to residents of the two countries without being registered with the regulators as required by law. Japanese Regulator’s Warning Japan’s top financial...