Facebook is a very popular social media network, with two billion users around the world. In 2019, the company unveiled the cryptocurrency project Libra. The backlash from various lawmakers and organizations showed that it would be quite hard to launch this cryptocurrency due to various reasons. The California-based company was struggling to deal with the …
Facebook’s Cryptocurrency Project and Mastercard Read More »
Less than one year ago, in June 2019, Facebook presented its cryptocurrency project Libra. The list of partners that agree to participate in the development of the blockchain network included many famous companies. Libra association was created to develop and distribute Libra. One explanation of why they decided to create this association was to comply …
Mastercard’s CEO and His Position Regarding the Libra Read More »
Cryptocurrencies such as Bitcoin, Ethereum, and others became more popular thanks to their decentralized nature. They offer a number of advantages to crypto owners. However, there are some problems as well. One of the main problems relates to crypto ransoms. Recently, hackers compromised five U.S. law firms. Such cases create bad publicity for the crypto-related …
Crypto crimes continue to rise as more and more people are using cryptocurrencies for illegal activities. Recently, the hacker group called Maze compromised five U.S. law firms and demanded two 100 Bitcoin ransoms from each firm. The first one to restore access to the data and the second one to delete their copy instead of …
Crimes related to cryptocurrencies represents a serious challenge for the law enforcement agencies in Europe and other parts of the world. One example of how people are using Bitcoin and other cryptocurrencies for illegal activities comes from France, Belgium, and Israel. French Gendarmerie Nationale, along with the Belgian Police and Israel Police, joined forces to …
International Investments Scam, 85 Victims and Bitcoin Read More »
Police officers from three countries worked together to identify and neutralize a large network allegedly involved in money laundering and binary investment fund. Law enforcement officers from French Gendarmerie Nationale along with the Belgian Police and Israel Police, joined forces to solve this crime. According to the information, the investigation started in 2018. At the …
Police Forces from Belgium, France, Israel, and Crypto Read More »
The crypto market continues to develop thanks to new ideas and projects. However, many banks in the U.S. as well as abroad are reluctant to work with crypto-related companies. Thus, crypto companies have to look for financial institutions willing to work with them. One such bank is Silvergate Bank from the State of California. This …
Silvergate Bank Wants to Handle Cryptocurrencies Read More »
Silvergate bank became famous thanks to its position regarding the cryptocurrencies. It provides U.S. dollar banking services for businesses that would like to use cryptocurrency. This is a very important decision as many banks refuse to handle the crypto transactions. Moreover, this bank from the U.S. State of California plans to make another serious decision. …
Crypto-related companies continue to expand as they would like to attract customers from different parts of the world. One such crypto exchange is Coinbase. This San Francisco-based exchange would like to serve not only the American but European and Asian clients as well. Recently it made a huge step forward in this direction. Let’s have …
Cryptocurrency exchange operator Coinbase opened new custody operations in Dublin, in the capital city of Ireland. Coinbase decided to open the center to help non-U.S. institutional clients to store their assets. On Wednesday, the exchange operator announced that it plans to create Coinbase Custody International. The purpose of this entity is to expand its institutional …
Cryptocurrency Exchange Coinbase and International Clients Read More »
It is not a secret that cryptocurrencies are harder to track than fiat currencies. This one of the primary reasons why such currencies became popular around the world. However, this emerging technology is also used for various illegal activities. Consequently, authorities are trying to identify such individuals and organizations to limit such activities. There is …
U.S. sanctions caused severe financial problems for Iran. In the last two years as a result of sanctions, the Iranian economy declined by 10-20%. The country is trying to evade the U.S., and it is not an easy task for several reasons. However, Iran started to use cryptocurrencies to minimize the damage caused by the …
Cryptocurrencies such as Bitcoin, Ethereum, and others are popular for several factors. However, due to their decentralized nature, it is easier to use cryptocurrencies for illegal activities. Governments are trying to tackle these problems by introducing anti-money laundering regulations for crypto-related companies. Singapore became another country which decided to comply with FATF recommendations. The latest …
Singapore is one of the major financial hubs in the world. On Tuesday, the Monetary Authority of Singapore updated the regulatory framework connected with crypto regulations. Payment Services Act (PSA) 2019 was updated to cover all crypto businesses and exchanges based in Singapore. The purpose of this decision was to bring so-called Digital Payments Token …
Authorities in Singapore and Updated Crypto Regulations Read More »
People living in the U.S. are familiar with the Internal Revenue Service (IRS) and its functions. The 2019 tax season started on January 27. Consequently, taxpayers will have to provide information about their assets including cryptocurrencies. Nevertheless, a person should be careful when it comes to reporting crypto transactions. The IRS treats virtual currency as …
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