The Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of a compliance plan. The resolution is in line with FATF recommendations and seeks to control and avoid criminals to use these platforms for illicit purposes. […] Source CryptoX Portal
The U.S. Federal Bureau of Investigation (FBI) issued a warning to crypto traders last week about scammers who steal funds by posing as exchange employees. The FBI notes that these fraudsters will contact victims and pretend there are problems with their exchange accounts. The scammers, acting like exchange employees, will stress urgency, often claiming a hacker is trying to compromise the victim’s account, in a bid to convince the victim to provide personal information to “protect” their funds. The FBI encourages traders to never provide their account log-in information to…
The crypto exchange giant Bybit pulled trading services from France this week due to regulatory issues. Bybit announced on Thursday that all accounts associated with French nationals and residents would shift to “close-only mode” the following day, blocking users from adding to or opening new positions. The exchange encouraged users to move their assets and funds to different accounts and noted that all remaining open positions would be liquidated on August 13th. From that point onward, French users will only be able to make withdrawals. The Autorité des Marchés Financiers,…
The Federal Bureau of Investigation (FBI) has warned cryptocurrency users about scammers impersonating crypto exchange employees to steal funds through unsolicited messages or calls. These fraudsters create urgency, claiming issues with accounts to trick victims into providing login details, clicking links, or sharing identification information. FBI Alerts Public to Cryptocurrency Exchange Scams The Federal Bureau […] Source
Interpol is aiding Hong Kong officials in locating Wong Ching-kit, a cryptocurrency promoter known as “Coin Young Master,” notorious for his 2018 stunt of tossing HK$6,000 from a rooftop. Wong faces charges of fraud and theft, including involvement in a HK$3 million cryptocurrency deception. An Interpol red notice has been issued to facilitate his arrest. […] Source CryptoX Portal
The renowned whistleblower Edward Snowden, former CIA and NSA contractor, delivered a powerful speech emphasizing the pitfalls of political allegiance and the privacy concerns surrounding Bitcoin. He urged individuals to participate in voting but warned against blindly following political ideologies. Snowden’s Bitcoin 2024 Keynote: Vote Independently and Beware of Bitcoin’s Privacy Risks During his keynote […] Original
North Carolina Attorney General Josh Stein has issued a warning about bitcoin ATM scams, following numerous complaints. The alert outlines tips to avoid such scams, emphasizing caution with unsolicited requests for cryptocurrency payments, online relationships turning financial, verifying investment advice, and avoiding get-rich-quick schemes. Victims are urged to report scams to local law enforcement and […] Original
Texas is rapidly becoming a Bitcoin mining hub, butresidents of local towns are experiencing hearing issues, headaches, dizziness, and sleep disturbance. The conflict between the economic interests of Bitcoin (BTC) mining in Texas and the quality of life of its residents is escalating, underscoring the need for comprehensive policy solutions. Texas is home to 10 out of the 34 major Bitcoin mines in the United States. In 2021, when China decided to crack down on Bitcoin mining, numerous mining companies like Marathon Digital and Hut 8 moved to Texas due…
Nayib Bukele, president of El Salvador, has issued an ultimatum for importers and food wholesalers to lower the prices of groceries and other articles, threatening to apply the same tactics he used against gangs with them. Bukele, who pushed the law that made bitcoin legal tender in the country, stated: “I’m going to issue a […] Source CryptoX Portal
Bitcoin (BTC) has undergone a significant change in market behavior, diverging from the currently bullish U.S. equities, as it faces challenges in its attempt to surpass the $63,000 price level. According to a Bitfinex report shared with crypto.news, H1 2024 began with optimism for the market, leading to a Bitcoin all-time high above $73,000. However, this enthusiasm weakened by mid-year, with Bitcoin struggling in June due to several headwinds. BTC is now down nearly 15% from its March peak. Per Bitfinex analysts, prevailing policies have significantly diminished Bitcoin’s volatility and…