Category: Regulation


India Seizes Bitcoins Worth $1.2 Million From Hacker of Government Website and Crypto Exchanges


Indian police have seized $1.2 million in bitcoin from a hacker who allegedly hacked a government website, online game portals, and cryptocurrency exchanges. He was previously arrested for stealing $1.5 million from an Indian state government. Indian Police Seize Bitcoins From Hacker The Bengaluru Central Crime Branch (CCB) Police have revealed that bitcoins worth Rs […]


Gold Exceeds U.S. Dollars in Russia’s Reserves as Putin Focuses on De-Dollarization


Russia Now Holds More Gold Than U.S. Dollars in $583 Billion Reserves as Putin Makes De-Dollarization Key PolicyRussia is now holding more gold than U.S. dollars in its reserves for the first time, according to the latest report by Russia’s central bank. Russian President Vladimir Putin has made de-dollarization his country’s key policy to reduce the Russian economy’s exposure to the U.S. dollar amid heavy sanctions. Russia Now Has More Gold in […]


IMF Says Only 23% of Central Banks Can Legally Issue Digital Currencies


IMF Says Only 23% of Central Banks Can Legally Issue Digital CurrenciesResearchers at the International Monetary Fund (IMF) have examined the central bank laws of 174 IMF members to answer the question of whether a digital currency is really money. They found that of all the central banks studied, only about 23%, or 40 central banks, “are legally allowed to issue digital currencies.” IMF Explores if […]



Crypto Exchange Owner Sentenced to 10 Years in Prison for Multimillion-Dollar Scheme to Defraud Americans


Crypto Exchange Owner Sentenced to 10 Years in Prison for Multimillion-Dollar Scheme to Defraud AmericansThe U.S. has sentenced a cryptocurrency exchange owner to 10 years in prison. He “knowingly and intentionally engaged in business practices designed to both assist fraudsters in laundering the proceeds of their fraud and to shield himself from criminal liability,” the Department of Justice alleges. Crypto Exchange Owner Sentenced to 10 Years in Prison The […]



ECB Chief Christine Lagarde Calls for Global Bitcoin Regulation — Says BTC Conducts ‘Funny Business’


ECB Chief Christine Lagarde Calls for Global Bitcoin Regulation — Says BTC Conducts 'Funny Business'The president of the European Central Bank (ECB), Christine Lagarde, has called for the global regulation of bitcoin. She said that bitcoin is a highly speculative asset and has “conducted some funny business.” Emphasizing the need for countries to work together to regulate bitcoin, she suggested that the crypto regulation could be “initiated by the […]


US President-Elect Biden to Nominate MIT Blockchain Professor Gary Gensler as SEC Chairman


US President-Elect Biden to Nominate MIT Blockchain Professor Gary Gensler as SEC ChairmanThe U.S. President-elect Joe Biden is set to name Gary Gensler as the new chairman of the U.S. Securities and Exchange Commission (SEC) to replace Elad Roisman. During Obama’s administration, Gensler led the U.S. Commodity Futures Trading Commission (CFTC) from 2009 to 2014. The Former Banker Became Part of Biden’s Transition Team in November According […]


Mastermind of $147 Million Crypto ‘Scam of Epic Proportions’ Sentenced to 10 Years in US Prison


US Sentences Mastermind of $147 Million Crypto ‘Scam of Epic Proportions’ to 10 Years in PrisonThe mastermind of what the U.S. Department of Justice calls a scam of “epic proportions” has been sentenced to 10 years in prison. His crypto scheme collected over $147 million, duping 72,000 investors. He is also ordered to pay the U.S. Internal Revenue Service more than $1.8 million for tax evasion. Scam Involving Fake Cryptocurrency […]


Darknet Giant Darkmarket Shut Down, Alleged Operator Arrested


Darknet Giant Darkmarket Shut Down, Alleged Operator ArrestedThe authorities in seven countries and Europol have jointly taken down Darkmarket, one of the largest darknet marketplaces. The action was taken after the marketplace’s alleged operator was arrested in Germany. Authorities Shut Down Darkmarket Europol announced Tuesday that darknet marketplace Darkmarket has been taken down. The announcement details: Darkmarket, the world’s largest illegal marketplace […]


New Zealand Watchdog Issues Warning on Crypto Investments Following Bitcoin’s Latest Price Drop


New Zealand Watchdog Issues Warning on Crypto Investments Following Bitcoin's Latest Price DropNew Zealand’s financial regulator issued a warning alert to local cryptocurrency investors and traders amid the recent bitcoin’s price action. The Financial Markets Authority (FMA) asks people to remain cautious because cryptos are “high risk and highly volatile assets.” FMA Warns About Unregulated Overseas Crypto Exchanges According to an official statement published in the NZ […]



UK Government Asks Crypto Industry to Provide Insights on Its Regulatory Approach


UK Government Asks Crypto Industry to Provide Insights on Its Regulatory ApproachHer Majesty’s Treasury in the U.K. issued a document that details a series of proposals addressing the crypto community. With the consultation, the Treasury is initiating a “regulatory approach to cryptoassets and stablecoins” for 2021 following the Brexit turmoil. Special Focus on Stablecoins Regulation According to the official announcement, the consultation mainly targets stablecoins to […]


JP Morgan Warns of Falling BTC Price With Bitcoin ETF Approval in US


JP Morgan Warns of Falling BTC Price With Bitcoin ETF Approval in USJP Morgan’s analysts say that the U.S. Securities and Exchange Commission (SEC) approving a bitcoin exchange-traded fund (ETF) is likely negative for bitcoin in the near term. There is optimism around the prospect of the SEC approving a bitcoin ETF under new leadership, the analysts say. SEC Approving Bitcoin ETF Could Be Negative JP Morgan […]


The CFTC Asks Court to Issue Fines in Excess of $100M Against Mastermind of a Fraudulent Crypto Scheme


The CFTC Asks Court to Issue Fines in Excess of $100M Against Mastermind of a Fraudulent Crypto SchemeThe Commodity Futures Trading Commission (CFTC) has filed a motion with the New York Southern District Court that seeks heavy penalties against Michael Ackerman, the mastermind of a fraudulent cryptocurrency scheme. According to the motion, the U.S. agency wants the court to order Ackerman to pay $27 million in restitution plus a civil penalty of […]


Economist Discusses What Would Happen if the Masses Ditch Fiat Currencies for Bitcoin


Economist Discusses What Would Happen if the Masses Ditch Fiat Currencies for BitcoinAmerican economist Brian Wesbury has shared his thoughts on what would happen if the masses were to ditch fiat currencies and adopt bitcoin instead. He discussed whether the government would allow it to happen and how bitcoin can become a true currency. Economist Brian Wesbury Answers Question About the Masses Ditching Fiat Currencies for Bitcoin […]


South Korean Government to Start Taxing Crypto Trading Profits in 2022


South Korean Government to Start Taxing Crypto Trading Profits in 2022The South Korean government has issued an amendment to introduce tax on cryptocurrency trading profits. The plan is now a reality after several attempts to delay it by lawmakers. New Rules Impose 20% Tax on Crypto Profits Per Asia Today, the legislative notice details that the amendment will be enacted in February, and profits from […]


As BTC Continues to Soar Finland Wants to Cash in on Bitcoins Seized in 2016


As BTC Continues to Soar Finland Wants to Cash in on Bitcoins Seized in 2016Finland’s customs officials have revealed plans to sell 1,981 bitcoins that were seized mainly in connection with drug trafficking-related criminal investigations. The majority of the confiscated bitcoins (1,666) are from the Douppikauppa case, the darknet operator who was arrested in 2016. To Sell or to Destroy the Coins According to a report by one Finnish […]

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Israeli Regulator Designates Utility Tokens Issued by Companies as Securities


Israeli Regulator Designates Utility Tokens Issued by Companies as SecuritiesThe Israel Securities Authority (ISA) recently ruled that utility tokens issued by companies are securities and, therefore, cannot be classified as assets. The ISA’s decision comes after Israeli tech startup Kirobo sought to convince the regulator that its planned token issuance did not amount to a security offering. Token Value Growth However, in response to […]

The post Israeli Regulator Designates Utility Tokens Issued by Companies as Securities appeared first on Bitcoin News.


South Korean Politicians Won’t Be Required to Disclose Their Crypto Holdings After Proposals Failed to Pass the National Assembly


South Korean Politicians Won't Be Required to Disclose Their Crypto Holdings After Proposals Failed to Pass the National AssemblySouth Korean politicians won’t be required to disclose their crypto holdings or crypto-related earnings as no fewer than three cryptocurrency-related bills failed to pass the National Assembly. Proposal Submitted in November 2020 According to the Electronic Times, the bills aimed to require lawmakers and senior public servants to report all their cryptocurrency holdings and their […]

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Crypto Regulation Commences in Serbia: Trading, Mining Legalized


Crypto Regulation Commences in Serbia: Trading, Mining LegalizedSerbia has started regulating the crypto industry as the country’s law on digital assets has gone into effect. It requires cryptocurrency service providers to obtain a license and legalizes crypto activities, including trading and mining. Serbia Starts Regulating Cryptocurrency Serbia’s recently adopted Law on Digital Assets went into effect last week with a publication in […]

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Iran Shuts Down 1,620 Cryptocurrency Mining Farms


Iran Shuts Down 1,620 Cryptocurrency Mining FarmsSince Iran began recognizing cryptocurrency mining as an industry, it has reportedly shut down 1,620 unauthorized crypto mining farms. Crypto miners initially welcomed the recognition but later said that the electricity tariffs were too high. 1,620 Crypto Mining Farms Shut Down in Iran Iranian authorities have reportedly closed down 1,620 illegal cryptocurrency mining farms since […]

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Kyrgyzstan Central Bank Is Set to Introduce Bills to Monitor Crypto Exchanges Activities and Forcing Them to Apply for Permits


Kyrgyzstan Central Bank Is Set to Introduce Two Bills to Monitor Crypto Exchanges Activities and Forcing Them to Apply for PermitsThe National Bank of the Kyrgyz Republic (NBKR) revealed its new-year plans for the national crypto industry. They are about to introduce two drafts to regulate the country’s exchanges that aim to combat terrorism, money laundering, and protecting consumers. Kyrgyzstan Central Bank Set to Introduce Two Crypto Bills to Combat Terrorism Financing and Fraud According […]

The post Kyrgyzstan Central Bank Is Set to Introduce Bills to Monitor Crypto Exchanges Activities and Forcing Them to Apply for Permits appeared first on Bitcoin News.


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