Day: March 6, 2023

Bitcoin ATM firm profited from crypto scams via unlicensed kiosks: Secret Service

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A Bitcoin (BTC) technology firm and its executives have been indicted for allegedly operating unlicensed crypto kiosks in Ohio which knowingly benefited from victims of cryptocurrency scams. S&P Solutions, which operated as Bitcoin of America, along with three of its executives are facing charges of money laundering, conspiracy, and other crimes connected to the operation of more than 50 unlicensed crypto kiosks in the state. A Cuyahoga County grand jury returned the indictment on Mar. 1 against the firm, the owner and founder, Sonny Meraban, manager Reza Meraban, and company…

Pakistan Banks to Use Blockchain Technology for KYC – Blockchain Bitcoin News

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Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they describe as a decentralized and self-regulated network. Banks of Pakistan Looking to Employ Blockchain for KYC Checks Pakistan Banks’ Association (PBA) has signed a contract for the implementation of a blockchain-based know-your-customer (KYC) platform which will be developed by Avanza Group. The latter unites companies specializing in advanced banking applications, customer experience management solutions,…

Tether strikes at WSJ over ‘stale allegations’ of faked documents for bank accounts

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The company behind stablecoin Tether (USDT) has rebuffed a report by The Wall Street Journal claiming it had ties to entities that faked documents and used shell companies to maintain access to the banking system. On March 3, the WSJ reported on leaked documents and emails purportedly revealing that entities tied to Tether and its sister cryptocurrency exchange Bitfinex faked sales invoices and transactions and hid behind third parties in order to open bank accounts they otherwise may not have been able to open. In a March 3 statement, Tether…

Internal documents reveal Australia’s potential timeline for crypto legislation: Report

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Crypto legislation in Australia could be dragged out past 2024 and beyond, with the government seemingly wanting to take its time in order to get a full picture of the industry — internal documents from the government have revealed.  The documents, obtained by The Australian Financial Review under Freedom of Information laws, reportedly reveal that the government aims to release consultation papers in the second quarter of 2023, and will hold stakeholder roundtables on crypto licensing and custody in the third quarter. The industry has been waiting to see the next…

Snoop Dogg revealed as co-founder of Web3-powered livestream platform

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American rapper and actor Snoop Dogg has been revealed as one of the co-founders of a Web3-powered live streaming app called “Shiller” — adding to yet another Web3 partnership fothe well-known hip-hop artist.  The app is described as a “live broadcast platform” that aims to combine Web3 technology with real-time live-streaming content. The rap star has been named as a co-founder of the app, along with technology entrepreneur Sam Jones. Get ready for the Web3 live stream revolution! Say goodbye to the middlemen and hello to true creator empowerment with Shiller!…

US Sentences Man to 3 Years in Prison for Defrauding Investors in Crypto Mining Scheme – Bitcoin News

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A U.S. district judge has sentenced a man to three years in prison in a fraudulent cryptocurrency mining scheme. The defendant “misappropriated his victims’ money and failed to provide them with the miners and miner-hosting services they had purchased from him,” according to the U.S. Department of Justice (DOJ). Man Sentenced to Prison for Defrauding Investors in Crypto Mining Scheme The U.S. Department of Justice (DOJ) announced Thursday that Chester (Chet) Stojanovich has been sentenced to three years in prison “for defrauding purchasers of cryptocurrency miners and miner-hosting services.” He…