virtual currencies – Ƀitsell X

Russia’s Digital Currency Measures Fail to Satisfy FATF, Blacklist Possible

October 17, 2024

Russia’s financial regulator maintains that its anti-money laundering system, including strengthened virtual currency regulations, remains effective even if the country faces potential blacklisting by the Financial Action Task Force (FATF). The agency highlighted new federal laws addressing previous concerns and stressed that no significant deficiencies exist that would justify Russia’s inclusion on the FATF blacklist,…
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DOJ Charges 21-Year-Old in $37M Cyber Intrusion and Crypto Heist

October 4, 2024

A 21-year-old from Indiana has pleaded guilty to cyber intrusion and cryptocurrency theft in a massive scheme targeting hundreds of victims. His actions involved stealing personal data and cryptocurrency worth over $37 million, with law enforcement crediting significant investigative efforts for his capture. FBI Cracks Global Cryptocurrency Theft Network The U.S. Department of Justice (DOJ)…
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China Urged to Establish Unified Crypto Regulations for Seized Digital Assets

September 5, 2024

A law professor at the East China University of Political Science and Law has highlighted the urgent need for China to standardize procedures for recovering illicit digital assets due to a rise in cryptocurrency-related crimes. He stressed the lack of uniform standards complicates asset recovery and urged for comprehensive guidelines and international cooperation to manage…
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Japan’s Financial Services Agency Includes Crypto in 2025 Tax Proposal

September 4, 2024

The Financial Services Agency has released its tax reform requests for fiscal year 2025, highlighting the need to consider the tax treatment of virtual currency transactions as financial assets. This marks the first time virtual currencies are mentioned in such requests. Industry groups have long called for changes to the tax system for virtual currencies,…
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Report: Taiwan Police Arrest Crypto Exchange Bosses Accused of Fraud

January 7, 2024

The police in Taiwan recently arrested two individuals who are accused of deceiving 100 investors into buying fake virtual currencies. The police also apprehended 14 other participants in the fraud scheme and recovered more than $7 million in both cash and virtual currencies. Worthless Virtual Currencies Taiwanese police recently arrested two executives of what has…
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Kuwait Capital Markets Authority Reaffirms Comprehensive Crypto Asset Ban

July 21, 2023

In a circular released by the Capital Markets Authority of Kuwait, the regulator reaffirmed its position that Kuwait strictly prohibits the use of virtual currencies and bans mining activities within the Gulf state. The authority also emphasized the importance for businesses to inform customers about potential “risks that may arise” with dealing with crypto assets…
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Hong Kong Judge Rules Crypto Assets as ‘Property,’ Following Similar Rulings Worldwide

April 19, 2023

In a court case linked to the now-defunct crypto exchange Gatecoin, a Hong Kong judge has ruled that cryptocurrencies are “property” which is “capable of being held on trust.” According to the law firm Hogan Lovells, this case should provide greater clarity to insolvency practitioners and other common law jurisdictions. Hong Kong Judge Designates Crypto…
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Crypto Ads in Belgium to Feature ‘Punchy Warning’ of Risks, New Rules Imply

March 21, 2023

The financial regulatory body of Belgium has been tasked by the government to regulate advertisements for cryptocurrencies. New rules, set to enter into force in May, oblige advertisers to clearly warn investors of the risks associated with the digital assets. Belgium Poised to Protect Consumers From Misleading Crypto Advertisements Belgium’s Financial Services and Markets Authority…
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Taiwan’s Financial Supervisory Commission Set to Regulate Country’s Virtual Assets Industry

March 21, 2023

Taiwan’s Financial Supervisory Commission is set to be announced as the body that will oversee and regulate the virtual asset industry. According to a report, the collapse of crypto exchanges like FTX prompted Taiwanese officials to seek ways of protecting users against similar events should they recur. Virtual Asset Industry’s Self-Regulation According to Taiwanese government…
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Snow Crash manuscript that coined the term ‘metaverse’ to be auctioned by Sotheby’s

February 23, 2023

The manuscript is part of a larger series of physical and digital items related to the famous book. The original manuscript of Neil Stephenson’s Snow Crash, the book that coined the term “metaverse,” will be auctioned by Sotheby’s, according to a page on its official website. The auction is part of a Feb. 23 series called…
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Category: virtual currencies