The leader of a cryptocurrency scheme that swindled over $30 million from investors has pleaded guilty to fraud, the U.S. Department of Justice (DOJ) said. He now faces a maximum sentence of 20 years in prison. Leader of $30M Crypto Scheme Pleads Guilty to Fraud The U.S. Department of Justice (DOJ) announced Wednesday that Michael…
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Texas aims to catch up with other crypto-friendly states and then some, but commentators say that amending a state constitution won’t happen immediately. Everything is bigger in Texas, which is why it shouldn’t come as a surprise that the Lone Star state is making moves to become America’s next Bitcoin (BTC) hotspot. Most recently, Texas…
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Mining and trading of cryptocurrencies are illegal in Nepal, the country’s central bank has reminded citizens of the Himalayan nation. The regulator also warned that participating in such activities would entail penalties as per the current legislation. Despite its position, however, the Nepalese have continued to invest in bitcoin, media reports reveal. Engaging in Illegal…
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Did a visit from the SEC’s Gensler with EU legislators signal a policy shift? Is U.S.–European collaboration on crypto regulation coming soon? As if he didn’t have enough to do, Gary Gensler appeared before the European Parliament on Sept. 1 to share his policy recommendations regarding the regulation of crypto assets and other matters. While…
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A Panamanian lawmaker has introduced a bill to regulate cryptocurrencies in the National Assembly. Among the proposals in the bill is the legalization of cryptocurrencies, like bitcoin and ethereum, as a means of payment, including for paying taxes. Proposed Crypto Law Will ‘Give Legal Certainty and Safety to Crypto Assets in Panama’ As the Bitcoin…
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Leading cryptocurrency exchanges in South Korea have reached agreements with Korean banks to maintain the issuance of real-name accounts, media reports revealed. The deals, although not yet permanent, will allow the trading platforms to register with financial authorities before the Sept. 24 compliance deadline. Bithumb, Coinone and Korbit Maintain Partnerships With Korean Banks Banks have…
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Seychelles’ Financial Services Authority (FSA) together with the country’s finance ministry, is reportedly working on a policy to either prohibit or license crypto trading platforms as registered international businesses.
Increase in International Investigations of Crypto Platforms
According to a report, the move by the FSA happens against the backdrop of a rising number of…
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Two central bank governors have shared their opinions about bitcoin after the cryptocurrency became legal tender in El Salvador. The governor of the Bank of Mexico sees bitcoin as a high-risk investment and a poor store of value while the governor of Sweden’s central bank, the Riksbank, believes bitcoin could collapse. Central Bankers Continue to…
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The parliament in Kyiv has passed legislation determining the rules for crypto-related operations in Ukraine. The law “On Virtual Assets” recognizes cryptocurrencies as intangible goods while denying them the status of legal tender. It also regulates the activities and obligations of crypto businesses. Ukraine Legalizes Crypto Activities, Defines Virtual Assets Ukraine’s Verkhovna Rada, the country’s…
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The chairman of India’s Parliamentary Standing Committee on Finance explains that cryptocurrency legislation in India will be “distinct and unique.” He added, “We have to balance stability and growth but we recognize how important this whole area of crypto is.” Lawmaker Provides an Update on Crypto Legislation Jayant Sinha, a lawmaker of the ruling Bharatiya…
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