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Canadian Gov’t Says It Has Frozen Crypto-Related Bank Accounts – and Will ‘Freeze More’
18.2.2022
The Canadian government is going ahead with its controversial moves to end the “truckers’ protest” over COVID-19 restrictions that has brought much of the nation to a standstill – by freezing bank accounts and sharing crypto addresses with financial institutions in an effort to cut...
JPMorgan Chase Closes Uniswap Founder's Bank Accounts & Offers Help
24.1.2022
Hayden Adams. Source: A video screenshot, Youtube/Fluidity
Hayden Adams, the creator of major decentralized exchange Uniswap, said that American banking giant JPMorgan Chase closed his banking accounts with “no notice or explanation.”
"I know many individuals and companies who have been...
US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to Individuals
14.1.2022
A U.S. lawmaker has introduced a bill in Congress to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. “It is important to note that the Fed does not, and should not, have the authority to offer retail bank accounts,”...
Pakistan Freezes Over 1,000 Accounts and Cards Used For Crypto Trading
30.12.2021
Authorities in Pakistan have reportedly moved to seize hundreds of bank accounts and cards belonging to cryptocurrency traders. According to local media, they have been allegedly used to make transactions worth close to $300,000 through digital asset exchanges, including major platforms. Pakistan...
Nigerian Crypto and Blockchain Advocacy Group: Freezing or Closure of Bank Accounts Not Supported by Law
23.11.2021
The Blockchain Industry Coordinating Committee of Nigeria (BICCON), has said it is not lawful for Nigerian financial institutions to arbitrarily freeze or close bank accounts belonging to individuals or entities accused of trading cryptocurrency. Affected Crypto Entities Told to Seek Legal Advice...
Nigerian Judge Rules in Favor of Accused Crypto Startup, Accounts to Be Reopened
27.10.2021
A Nigerian Federal Court judge recently ruled that the two frozen bank accounts belonging to Rise Vest Technologies, which is accused of trading cryptocurrencies, must be reopened. CBN’s Bank Account Freeze Order Dismissed In a ruling that overturns the Central Bank of Nigeria (CBN)’s...
Colombian Government Might Take Unused Funds From Bank Accounts Inactive for a Year
26.10.2021
The budget law for the next year, which was recently approved by the Colombian representative’s chamber, includes a controversial article that allows the state to confiscate a bank customer’s funds to be used for budgetary purposes. Under certain circumstances defined by the...
Spellfire: NFT That You Can Actually Touch
20.9.2021
In recent months NFT or as it coded, non-fungible tokens became a hot topic that everyone is talking about. NFT is a valuable model of digital ownership from which you could make money. If you have paper money or money in your bank accounts, you can buy, rent, sell, invest and be an active player...
IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600
16.9.2021
On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across...
JPMorgan Chase reportedly shuts down bank accounts of Bitcoin mining firm
19.8.2021
Delaware-based Compass Mining offers U.S. citizens exposure to Bitcoin mining via its private infrastructure
Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations
19.8.2021
The Central Bank of Nigeria (CBN) reportedly frozen bank accounts belonging to four fintech firms for up to 180 days after a Federal High Court in Abuja acceded to an “ex parte motion.” The ex parte motion, which is a form of temporary suspension, was granted after a Nigerian chief...
Polish Lawmakers Press Finance Ministry on Crypto Firms' Bank Accounts
3.8.2021
In the light of Poland’s looming crypto exchange regulations, a group of lawmakers has filed a request for information to the country’s Ministry of Finance, asking whether the ministry plans to facilitate making bank deposits for Polish crypto companies, and if it aims to develop regulations...
Regulator Identifies ‘Fake’ Crypto Exchange Bank Accounts
29.7.2021
Source: Adobe/jon_chica
South Korea’s top financial regulator, the Financial Services Commission (FSC) said it has identified 14 “fake” bank accounts that are or have been used as fiat on/off ramps by domestic crypto exchanges.
The FSC examined a total of 94 accounts belonging to 79 crypto...
Banks in Kazakhstan to Open Accounts for Registered Crypto Exchanges
27.7.2021
Companies providing trading services for digital assets will be able to open accounts with banks in Kazakhstan, local media reported, quoting the country’s crypto industry association. The service should allow Kazakhs to legally invest in cryptocurrencies and cash out their profits. Crypto...
Hong Kong Busts Money Laundering Ring Using Tether to Wash Millions
16.7.2021
Authorities in Hong Kong have arrested four people suspected of money laundering a total of $155 million through cryptocurrency wallets and bank accounts. The city’s customs agency said this was its first case in which virtual money had been used to launder dirty cash. Money Laundering...
Korean Crypto Exchanges Consider Suing Government Over Banking Requirements
30.6.2021
All cryptocurrency exchanges in South Korea except the largest four may be unable to meet the bank account requirements needed to stay in business. A number of Korean crypto exchanges are considering suing the government and financial authorities, claiming that the country’s crypto law...
Korean Banks to Be Relieved of Liability for Crypto-Related Crime, Report Suggests
28.6.2021
Banking institutions in South Korea have reportedly requested to not be held accountable for crimes linked to cryptocurrencies such as money laundering. According to local media, financial regulators are now developing rules that could relieve Korean banks from responsibility when screening...
10,000 Financial Institutions Can Now Let Customers Buy, Sell, Hold Bitcoin Through Their Bank Accounts
25.6.2021
Banks and credit unions of all sizes can now facilitate the buying, selling, and holding of bitcoin within their banking platforms thanks to a collaboration between Finserv and New York Digital Investment Group (NYDIG). Finserv currently has about 10,000 financial institution clients. All Banks...
Bank of Korea to Monitor Crypto Transactions Using Financial Records
15.5.2021
South Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk...
Hundreds of Banks in US to Allow Customers to Buy, Sell, Hold Bitcoin Through Existing Bank Accounts
5.5.2021
Hundreds of banks in the U.S. will reportedly start offering access to bitcoin to their customers this year, thanks to a partnership between Fidelity National Information Services and the New York Digital Investment Group. Hundreds of banks have enrolled to participate in the program as they...