One Ohio resident who ran a $12 million Ponzi scheme involving bitcoin has now been fined by the United States Commodities Futures and Trading Commission (CFTC). Based on the complaint filed by the CFTC at a district court in the state on August 11, the man executed the fraud to pay for …
It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic. Top Banker …
The chief of Australia’s financial services regulator Joe Longo has raised the alarm over the huge amount of people that invested in ‘unregulated, volatile’ crypto assets during the Coronavirus pandemic. Australia’s financial services watchdog sees the surge in crypto investment during the COVID-19 pandemic as a cause for …
India’s Enforcement Directorate (ED) has frozen crypto exchange Vauld’s crypto and bank assets worth about INR 370 crore ($46,439,181). Vauld halted deposits and withdrawals last month. The Indian law enforcement agency is reportedly investigating more than 10 cryptocurrency exchanges. Indian Authority Freezes Another Cryptocurrency Exchange’s Assets The …
The central bank of the Philippines, Bangko Sentral ng Pilipinas, has announced that it will stop accepting crypto license applications for three years, starting next month. The central bank is the primary regulator of the crypto sector in the Philippines. Philippines Halts Accepting Crypto License Applications The Philippine central bank, …
OFAC’s decision suggests that all protocols are subject to the same compliance obligations
Global regulators are taking a gradual approach to establish rules and standards for the cryptocurrency space. It looks like that order for transparency and clarity is the common direction of authorities, including the European Union (EU). During the Korean Blockchain Week 2022, Peter Kerstens, European Commission’s adviser, outlined the Markets …
Tornado Cash’s native token TORN lost 96.9% of its value since its all-time high in February 2021, and at least one developer is now in legal jeopardy
The United Arab Emirates (UAE) has said it now requires real estate agents, brokers, and law firms to report to the Financial Intelligence Unit real estate transactions in which virtual currency is used as payment. Similarly, real estate purchases or sales where “the funds used in the transaction …
High rates of crypto ownership, with purchases often made on advice from Youtube and Facebook, make “a strong case for regulation,” according to the Australian Securities and Investments Commission. The watchdog backs its stance with poll results showing nearly half of retail investors in Australia keep …
