25th January 2018
Washington’s main concern about the rise of the cryptocurrency is to make sure it is not used for illicit activity, US Treasury Secretary Steven Mnuchin said on Thursday as he urged nations to join the United States in regulating them. “My number-one focus on cryptocurrencies, whether that be… Read More
24th January 2018
Stripe, the firm which helps more than 100,000 businesses do financial transactions online, is to scrap support for Bitcoin payments. It said Bitcoin users now saw the virtual currency largely as an “asset” to be traded, rather than something to make payments with. Fewer online merchants wanted to accept… Read More
23rd January 2018
Cybercriminals claim to be selling the Social Security numbers of babies on the dark web. The personal details of children – including dates of birth and mother’s maiden names – have been sought after for years. Now, researchers have found an ad on a forum for the sale of… Read More
23rd January 2018
South Korea will ban the use of anonymous bank accounts in cryptocurrency trading from Jan. 30, regulators said on Tuesday in a widely telegraphed move designed to stop virtual coins from being used for money laundering and other crimes. The measure comes on top of stepped up efforts… Read More
22nd January 2018
The corporate watchdog wants new powers for its investigators to go undercover to combat financial crime on the dark web. The Australian Securities and Investment Commission has said it needs more investigatory powers because the increasing use of the dark web and virtual currencies such as bitcoin has… Read More
19th January 2018
Some of the UK’s big banks have defended their stance towards Bitcoin despite investors claiming the banking sector is “shunning the whole cryptocurrency” industry. People investing in Bitcoin today told how they are being pushed into making expensive foreign money transfers or even being refused bank accounts because of… Read More
17th January 2018
The United Kingdom’s Government Communications Headquarters (GCHQ) is closely monitoring digital currency bitcoin, keeping an eye on its associated risks. With widespread reports linking cryptocurrencies to money laundering, terrorism financing and other illicit cash ventures, the national intelligence unit is keen to stay abreast of developments and ensure that other… Read More
17th January 2018
French Finance Minister Bruno Le Maire has appointed a ‘bitcoin tsar’ to examine cryptocurrency-linked financial crime and regulation amid growing speculation and concern from global regulators. A French Ministry of Finance spokesman told KYC360 that Le Maire said the official will submit a report after examining the issues pertaining to… Read More
16th January 2018
A 24-year-old man has been jailed for running a product-testing service for hackers which allowed criminals to test, for a fee, whether their malicious cyber tools could beat anti-virus scanners. Goncalo Esteves of Colchester, Essex, ran the website reFUD.me, under the pseudonym KillaMuvz. He also sold custom-made malware-disguising… Read More
15th January 2018
Singapore applies the same anti-money laundering (AML) rules for traditional or fiat currency as it does for virtual currencies, Singaporean Deputy Prime Minister Tharman Shanmugaratnam said in response to a parliamentary question on AML enforcement in crypto transactions. Shanmugaratnam, who is also the minister in charge of regulator the Monetary… Read More