The Dutch central bank said that the Binance crypto exchange had a “very large number of customers in the Netherlands.” Major global cryptocurrency exchange Binance is facing a penalty in the Netherlands after failing to obtain regulatory approval to operate in the country. The central bank of the Netherlands (DNB) has fined Binance Holdings 3.3…
Read more
According to a Securities and Exchange Commission (SEC) judgment, Jimmy Gale Watson, a former associate of the now deceased John McAfee, has been fined for being paid to promote pump and dump-fashioned initial coin offerings (ICOs). The SEC has ruled that Watson must pay roughly $375K in penalties and he’s not allowed to participate in…
Read more
Authorities in Iran have shut down close to 7,000 unauthorized facilities for cryptocurrency mining in the past two years, local media revealed. According to a report, most of the illegal bitcoin farms were concentrated in five provinces of the Islamic Republic, including Tehran. Iran Continues Crackdown on Unlicensed Cryptocurrency Mining Iranian officials have unplugged and…
Read more
MASAK found Binance Turkey guilty of violating the Law on Prevention of Laundering Proceeds of Crime, also known as the AML Law. The Financial Crimes Investigation Board (MASAK), which serves as Turkey’s financial intelligence unit under the Ministry of Finance and Treasury, found crypto exchange Binance’s Turkey operations guilty of violating laws that intend to…
Read more
Data from a recent report suggest that enforcement actions from U.S. regulators against those in the crypto space cost those firms less than 1% of that in traditional finance for the last 20 years. While regulators have often targeted projects in and out of the crypto space, the fines levied against digital asset exchanges are…
Read more
To ban crypto or to tax, that seems to be the question. Russia’s Ministry of Finance is continuing to push regulations for the cryptocurrency industry by proposing new tax requirements. The ministry now reportedly wants to introduce criminal liability for failure to declare taxes on crypto, including prison terms of up to three years. According…
Read more
The U.S. Securities and Exchange Commission reaches a settlement with Nebulous, the firm behind the Sia decentralized cloud storage network. The United States Securities and Exchange Commission (SEC) reached a settlement with Nebulous, the firm behind the Sia decentralized cloud storage network. $225,000 in disgorgement and penalties On Oct. 1 the SEC announced in a…
Read more
The U.S. Securities and Exchange Commission has settled with Block.one for $24 million for conducting an unregistered ICO. The United States Securities and Exchange Commission (SEC) has reached a settlement with Block.one to pay $24 million in penalties for conducting an unregistered initial coin offering (ICO). On Sept. 30, the SEC announced in a press…
Read more
