Featured Virtual Currency And Blockchain

New Singapore Law Allows Global Crypto Firms to Expand Locally

Singapore is introducing new payments legislation that offers global cryptocurrency firms a chance to expand their operations in the country by applying for operating licenses for the first time. The Payment Services Act, which comes into force Tuesday, is the first comprehensive regulation for companies handling activities ranging from… Read More

How the North Korean hackers behind WannaCry got away with a stunning crypto-heist

Cyberattacks waged against cryptocurrency exchanges are now common, but the theft of just over $7 million from the Singapore-based exchange DragonEx last March stands out for at least three reasons. First there is the extremely elaborate phishing scheme the attackers used to get in, which involved not only fake websites… Read More

Iran Has a Bitcoin Strategy to Beat Trump

In narrow terms, the economic sanctions imposed by the United States on Iran in the last two years have been effective, shrinking the Iranian economy by 10 to 20 percent. But they have also accelerated Iran’s use of cryptocurrencies such as bitcoin, which are increasingly used by the Iranian government… Read More
27th January 2020
AP — French officials have filed preliminary charges of money laundering and extortion against Russian bitcoin fraud suspect Alexander Vinnik, who’s tangled in a multi-country legal battle. The United States also wants to prosecute Vinnik, accusing him of laundering billions of dollars through BTC-e, one of the world’s largest… Read More
24th January 2020
A Central American financial institution is suspected of helping clients worldwide evade taxes and launder money, according to tax investigators from the U.S., the Netherlands and three other nations coordinating a crackdown. Clients at the unidentified firm “may be using a sophisticated system to conceal and transfer wealth anonymously,” the… Read More
23rd January 2020
A year-long crackdown on Latvian banks’ reputation for money laundering and sanctions dodging appeared to have paid dividends January 22 with official recognition of its success from an important international organization. The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism – MONEYVAL is a… Read More
23rd January 2020
A number of European Union countries failed to meet a Jan. 10 deadline to fully apply strict new measures against money laundering, compounding the bloc’s challenge in weeding out dirty money. The European Commission, the EU’s executive arm, is preparing to launch so-called infringement procedures next month to… Read More
22nd January 2020
Britain’s tax agency is inviting contractors to provide a tech tool to help Britain’s tax agency combat crypto cybercriminals. What the agency wants The technology, which Her Majesty’s Revenue & Customs (HMRC) posted on Jan. 17 in an open contract call worth 100,000 pounds sterling, should gather intelligence through… Read More
21st January 2020
Facebook Inc.’s Libra cryptocurrency starts 2020 looking no closer to release, with authorities in its base in Switzerland raising fresh questions about its suitability as a global currency. Swiss finance minister Ueli Maurer said on Dec. 27 in Bern that the country can’t approve Libra in its current form, telegraphing… Read More
21st January 2020
The Department of Internal Affairs (DIA) is investigating an Auckland church with links to a multi-billion dollar cryptocurrency labelled a scam. It’s the second church to be investigated by the department involving the OneCoin scheme, whose leaders have been charged with fraud by US authorities. In New Zealand, according… Read More
20th January 2020
Terrorism financing schemes using cryptocurrencies are growing in sophistication, according to researcher Chainalysis Inc., which helps law enforcement track digital-coin transactions. In one instance, terrorists collected crypto donations worth tens of thousands of dollars in just one campaign last year, a much quicker way to raise funds than prior efforts,… Read More
16th January 2020
Criminals have long turned to cryptocurrencies like Bitcoin to carry out crimes including ransomware and extortion. But as law enforcement has improved at tracking the semi-anonymous currencies, criminals have had to devise new tactics for turning ill-gotten crypto proceeds back into cash. In response, a… Read More
16th January 2020
United Nations sanctions experts are warning people not to attend a cryptocurrency conference in North Korea in February, flagging it as a likely sanctions violation, according to a confidential report due to be submitted to the U.N. Security Council later this month. The warning comes after the independent U.N. experts… Read More