The world’s largest exchange keeps deepening its cooperation with law enforcement. Binance, the world’s largest cryptocurrency exchange, is collaborating with law enforcement authorities in Ukraine to take down some large-scale money laundering schemes. Working with the exchange, Ukraine’s cyber police identified and arrested a group of criminals involved in a $42 million ransomware and money…
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A Ukrainian hacker stole data in government databases and attempted to sell it for crypto. A Ukrainian hacker got caught selling confidential information gathered from Ukrainian central government databases. According to a media release from the Ukrainian Cyberpolice, a hacker whose identity was not disclosed was able to break into many government databases by compromising…
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The Ministry of Digital Transformation of Ukraine published crypto draft law “On Virtual Assets” in response to FATF’s June 2020 deadline. Ukraine is getting closer to providing a legal status for cryptocurrencies like Bitcoin (BTC) with a new draft bill published on Monday. On May 18, the Ministry of Digital Transformation of Ukraine published a…
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Ukraine’s Ministry of Energy believes that using power plants for crypto mining could be one of the best ways to take advantage of a current energy glut. Cryptocurrency mining is a contemporary and efficient way to use excess energy, Ukraine’s Ministry of Energy argued in a May 6 statement published on Facebook. According to the…
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Ukrainian officials are urged to disclose their cryptocurrency holdings as one of the national anti-corruption agencies publishes a manual on how to report crypto assets. The Ukrainian National Agency on Corruption Prevention (NACP) detailed how cryptocurrencies must be reported on yearly income declarations. Cryptocurrencies are categorized under the “intangible asset” section, though they are also…
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A whistleblower has revealed a $70 million Bitcoin scam targeting British and Australian investors through fake news stories on Facebook. A whistleblower has revealed the existence of a 200-employee Ukrainian Bitcoin (BTC) trading scam that netted $70 million in 2019. The whistleblower outed the scam by providing footage and internal company documents to Swedish newspaper…
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In implementing new Anti-Money Laundering policies, many countries automatically treat crypto transactions as high-risk. Recently, financial regulators around the world have been growing concerned about the role of cryptocurrency in money laundering and financing of various illicit activities. The first two months of 2020 saw many governments acting on these concerns and introducing a variety…
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As a crypto firm in Ukraine plans to issue the first Ukrainian hryvnia-pegged stablecoin, the country’s central bank is progressing with its e-hryvnia project. Despite considerable testing and research, the prospect of a central bank digital currency (CBDC) still raises significant concerns for bankers in Ukraine. At a Feb. 21 conference in Kyiv, the National…
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Ukrainian cryptocurrency exchange Kuna has launched a hryvnia-pegged stablecoin, UAX for open beta testing. In an apparent first, Ukrainian cryptocurrency exchange Kuna has released a stablecoin pegged to local fiat currency, the Ukrainian hryvnia (UAH). Dubbed UAX token, the new stablecoin is pegged to the hryvnia on a 1:1 ratio and is based on the…
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Ukrainian authorities said that crypto mining does not require regulatory activity from governmental oversight bodies or other third-party regulations. Ukrainian authorities said that crypto mining does not require regulatory activity from governmental oversight bodies or other third-party regulations. In its manifest on virtual assets published on Feb. 7, the Ministry of Digital Transformation of Ukraine…
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