Tag: Issues

Bitcoin ATM Scams on the Rise: North Carolina AG Issues Warning and Tips to Stay Safe

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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

Bitcoin mining causing health issues in Texas residents

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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…

Bitcoin diverges from US equities amid supply issues

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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…

U.S. Treasury Issues Crypto Tax Regime For 2025, Delays Rules for Non-Custodians

The IRS said it tried to avoid some burdens on users of stablecoins, especially when used to buy other tokens and in payments. Basically, a normal crypto investor and user who doesn’t earn more than $10,000 on stablecoins in a year is exempted from the reporting. Stablecoin sales – the most frequent in the crypto markets – will be tallied collectively in an “aggregated” report rather than as individual transactions, the agency said, though more sophisticated and high-volume stablecoin investors won’t qualify. The agency said that these tokens “unambiguously fall…

Japanese Regulator Issues Warning to Unregistered Crypto Platform Lbank Exchange

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The Financial Services Agency (FSA) of Japan issued a warning to Lbank Exchange, an overseas cryptocurrency platform, for operating without registration. Lbank, which ranks 56th in trading volume according to Coingecko, has been offering services to Japanese residents despite reportedly having an unknown address and representative. This action follows similar warnings issued by the FSA […] Source

Bitcoin Suisse issues tokenized bond on Obligate to raise fresh capital

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Swiss crypto custodian Bitcoin Suisse has issued tokenized bond via Obligate to double down on growth efforts in the lending business. Bitcoin Suisse, Switzerland’s largest crypto custodian with over $5.5 billion in assets under custody, has secured new capital by issuing a tokenized bond on Obligate, an on-chain capital markets platform. According to a press release shared with crypto.news, the investment-grade bond is overcollateralized and utilizes Circle’s USD Coin (USDC) stablecoin as the settlement currency. The issuance was executed via atomic settlement of the bonds against the stablecoin. Bitcoin Suisse…

Uzbekistan’s Islamic Authority Retracts Fatwa Against Cryptocurrency, Issues Apology

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Uzbekistan’s highest Islamic authority has retracted a fatwa it issued on June 3 that deemed trading with cryptocurrencies impermissible. This declaration, which stated that cryptocurrency trading violated Sharia law, was mistakenly released on social media due to an oversight. In response, the Fatwa Center issued a statement titled “Correction and Apologies.” The statement disclosed that […] Source

SEC Issues Investor Alert Highlighting 5 Common Crypto Scams

The SEC’s Office of Investor Education and Advocacy has issued an alert, highlighting five common crypto scams investors should watch out for to avoid losing money. The SEC warns that fraudsters exploit cryptocurrency popularity with sophisticated techniques, making fund recovery difficult. For example, “Fraudsters may conduct pump-and-dump schemes with crypto assets, including so-called ‘memecoins’ that […] Source CryptoX Portal

NYDFS Issues New Crypto Firm Guidance for Consumer Complaints

“Consumers have a right to a transparent and timely process for resolving complaints and answering questions, irrespective of the company or product in question,” said NYDFS Superintendent Adrienne A. Harris. “This guidance outlines clear expectations for a positive customer experience, which benefits both consumers and business.” Source