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Featured Virtual Currency And Blockchain

Canada mulls setting rules for crypto platforms

Canadian regulators are looking to create new rules for crypto trading platforms, months after the death of the founder of digital platform Quadriga CX that led to about C$180 million ($135 million) in frozen cryptocurrencies. The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization… Read More

Australia watchdog suspends two cryptocurrency exchanges for drug offences

Australia’s anti-money laundering watchdog said on Friday it had suspended license of two cryptocurrency exchanges after a police investigation found the businesses were being exploited for drug trafficking. It was the first such suspension by the Australian Transaction Reports and Analysis Centre, or AUSTRAC, since new legislation in April 2018… Read More

U.S. Legislators Propose Expansion of FinCEN’s Mission

U.S. lawmakers are seeking to expand the mission of the country’s financial intelligence unit by granting it more authority to fight the financing of domestic terrorism and the misuse of cryptocurrencies. Under proposed legislation, the mission statement of the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) would be amended to… Read More

28th February 2019

Man charged with cheating investors in cryptocurrency scam

AP — The founder of a purported cryptocurrency company has been charged with cheating investors out of millions of dollars by selling fake virtual money he falsely claimed was backed by gold. Federal prosecutors in Massachusetts say My Big Coin Pay Inc. founder Randall Crater of East Hampton, New… Read More

26th February 2019

Malta leads on cryptoassets regulation while EU ponders

As the European Commission ponders whether the European Union needs rules for cryptoassets and trading in virtual currencies, EU states are moving ahead with their own regulations, with the smallest of them, Malta, leading the pack. The risks of investing in the industry were made clear last year when Bitcoin,… Read More

18th February 2019

JPMorgan creates its own US-bank backed cryptocurrency

JPMorgan has announced the launch its digital coin representing a fiat currency. Called JMP Coin, the unit is based on blockchain-based technology and will enable the instant transfer of payments between institutional accounts. Exchanging value, such as money, between different parties over a blockchain requires a digital currency. “The JPM… Read More

7th February 2019

UK: Cryptocurrency scams top fraud cases, regulator issues warning after £200 million losses

Fraudulent schemes involving cryptocurrency firms are among the three most commonly reported scams, according to the Financial Conduct Authority (FCA), which also stated that investments scams resulted in over £197 million of reported losses in 2018. The FCA on Wednesday urged investors to be vigilant to the threat posed by… Read More

30th January 2019

Cryptocurrency thefts, scams hit $1.7 billion in 2018: report

Cryptocurrencies stolen from exchanges and scammed from investors surged more than 400 percent in 2018 to around $1.7 billion, according to a report from U.S.-based cyber security firm CipherTrace released on Tuesday. Of the $1.7 billion, the report, which looks at criminal activity in the digital currency market, said $950… Read More

30th January 2019

Money laundering: Arrest in Oxford over €10 million cryptocurrency theft

A man has been arrested over allegations of fraud and money laundering at an address in Oxford, UK, following the theft of around €10 million in the IOTA cryptocurrency from over 85 victims worldwide since January 2018. An investigation was launched after police in Hessen, Germany, received reports from members… Read More

24th January 2019

Financial crime: UK announces consultation on bitcoin, cryptoassets guidance

Britain’s Financial Conduct Authority (FCA) has launched a consultation into guidance on the cryptoasset activities it regulates. The watchdog said the move is aimed at providing clarity for firms about whether their cryptoasset activities fall under its regulation, and [for them to] ensure they are compliant and have appropriate consumer… Read More

21st January 2019

Daily bitcoin transactions on darknet markets doubled throughout 2018: report

Use of bitcoin as a form of payment doubled in 2018 on darknet market sites, where users can buy anything from illegal drugs to fake IDs, even though the price of the cryptocurrency crashed, according to a study by data firm Chainalysis. Bitcoin transaction volumes on darknet markets rose throughout… Read More

15th January 2019

Malaysia to regulate initial coin offerings, cryptocurrency trade

Malaysia will regulate initial coin offerings (ICOs) and the trade of cryptocurrencies, the finance minister said in a statement on Monday. The minister said an order to recognize digital currencies and digital tokens as securities will come into force on Jan. 15, under the regulation of the Securities Commission Malaysia. Read More

21st December 2018

How does the UK tax cryptocurrencies? Government publishes policy paper

The United Kingdom has outlined its views on the taxation of cryptoassets, such as bitcoin, alongside guidance on what holders of such assets need to pay and records they should keep. According to HMRC, individuals will be liable to pay income tax and national insurance contributions on cryptoassets they receive… Read More

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