Tag: News

Romania Carries Out Raids as Part of Crypto Tax Evasion Probe – Taxes Bitcoin News

Authorities in Romania have conducted more than a dozen raids against people suspected of hiding income from cryptocurrency operations. The searches took place in late 2022 following an earlier investigation which established that crypto traders had failed to report digital assets exceeding $50 million in value. Law Enforcement and Tax Authorities in Romania Go After Crypto Taxpayers Police and tax officials in Romania have carried out 17 raids in the fall of last year as part of an investigation against persons accused of evading taxation by concealing profits from transactions…

Bank of France Governor Calls for Mandatory Licensing for Crypto Companies – Regulation Bitcoin News

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France has to adopt a licensing regime for crypto service providers, the head of the country’s central bank has suggested. According to the executive, the need to tighten regulatory oversight stems from the “disorder” in the industry throughout the past year. Licensing Should Replace Registration for Crypto Firms in France, Governor Galhau Says Banque de France Governor Francois Villeroy de Galhau has urged for subjecting crypto businesses to stricter regulatory requirements. Licensing must be introduced instead of the current registration in response to the recent volatility in the sector, he…

DOJ Asks Victims of Sam Bankman-Fried’s Fraud to Come Forward – Featured Bitcoin News

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The U.S. Department of Justice (DOJ) has asked victims of former FTX CEO Sam Bankman-Fried (SBF)’s fraud to come forward. The former FTX executive has been charged with “defrauding customers of FTX.com, investors in FTX.com, and lenders to Alameda Research,” the Justice Department noted. DOJ Urges Victims of SBF Fraud to Come Forward The U.S. Department of Justice (DOJ) reached out to victims of Sam Bankman-Fried (SBF)’s fraud via its website Friday, explaining their rights and asking them to come forward. Bankman-Fried co-founded FTX and served as its CEO when…

Billionaire Mark Cuban Warns of Next Crypto Implosion Coming From Wash Trades – Featured Bitcoin News

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Mark Cuban, a Shark Tank star and the owner of the NBA team Dallas Mavericks, has warned that the next crypto implosion could come from “the discovery and removal of wash trades” on centralized exchanges. The billionaire’s comments followed the collapse of crypto exchange FTX which wiped out billions of dollars of customer funds. Mark Cuban on the Next Crypto Implosion Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, shared his thoughts on the next crypto implosion with The Street, published Friday. The billionaire…

Crypto Is Too Dependent on ‘Greater Fool Theory’ to Be a Desirable Investment – Featured Bitcoin News

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Former Federal Reserve Chairman Alan Greenspan says crypto is “too dependent on the ‘greater fool theory’ to be a desirable investment.” However, he noted that the collapse of crypto exchange FTX was “purely fraud,” rather than the result of a feature inherent to crypto. He does not expect the FTX contagion to spread far beyond the crypto space. Alan Greenspan on Crypto, FTX, and US Economy Former Federal Reserve Chairman Alan Greenspan shared his views on cryptocurrency, the collapsed crypto exchange FTX, and the U.S. economy in a year-end Q&A…

Jim Cramer Expects SEC to ‘Do a Roundup’ of Uncompliant Crypto Firms — Urges Investors to Get Out of Crypto Now – Regulation Bitcoin News

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The host of Mad Money, Jim Cramer, says he expects the U.S. Securities and Exchange Commission (SEC) to do a roundup of crypto firms that are not compliant with regulation. Expecting the SEC “to sweep everything,” Cramer urges investors to “get out” of crypto now. Jim Cramer’s Latest Crypto Warnings The host of CNBC’s Mad Money show, Jim Cramer, is back with more warnings for crypto investors. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. Following a joint statement about crypto risks…

Wyre Announces Modification of Withdrawal Policy, Pushing Topps to Temporarily Suspend NFT Marketplace Transactions – Bitcoin News

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Following reports that the crypto payments firm Wyre was shutting down operations, CEO Ioannis Giannaros offered a contradicting story, stating that the firm was merely “scaling back.” Wyre has now announced that it is “modifying” its withdrawal policy, citing the crypto industry downturn and the “macroeconomic climate” as factors that have affected the company. On Friday, Wyre stated that it is now “exploring strategic options.” Crypto Industry Turmoil: Wyre Modifies Withdrawal Policy, Topps Suspends NFT Marketplace Transactions Three days ago on Jan. 4, Bitcoin.com News reported that crypto payments firm…

Sberbank Analyst’s Editorial Delves Into the ‘Tremendous Potential’ of a BRICS Reserve Currency Fueling De-Dollarization – Economics Bitcoin News

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During the last month, Russia’s ruble has dropped 16.48% against the U.S. dollar as energy and commodity prices have slowed over the last few weeks. Russia’s central bank revealed two weeks ago that it is further distancing itself from U.S. dollar dependence by purchasing the Chinese yuan on foreign exchange markets. Roughly around the same time, on Dec. 21, 2022, Sberbank executive and Russian International Affairs Council (RIAC) member, Yaroslav Lissovolik, published an opinion article that talks about exploring the pathway toward a new BRICS reserve currency. Russia’s Central Bank…

Federal Prosecutors in New York Probe Digital Currency Group and Subsidiary Genesis – Bitcoin News

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Following accusations from Gemini co-founder Cameron Winklevoss in an open letter to Digital Currency Group CEO Barry Silbert, a report citing “people familiar with the matter” states that federal prosecutors from New York are scrutinizing transfers between Digital Currency Group and its subsidiary, Genesis Global Capital. Report Claims Digital Currency Group, Genesis Global Capital Allegedly Face Scrutiny from Federal Prosecutors in New York According to a recent letter from Cameron Winklevoss, co-founder of the crypto exchange Gemini, Digital Currency Group (DCG) has until Jan. 8, 2023, to resolve liquidity issues…

Bitcoin Hashrate Reaches All-Time High, Boost Could Lead to Record-Setting Difficulty Increase – Mining Bitcoin News

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During the first week of the new year, Bitcoin’s hashrate reached an all-time high (ATH) on Jan. 6, 2023, at block height 770,709. The network recorded a milestone of around 361.20 exahash per second (EH/s) on Friday, jumping more than 4% higher than the previous record of 347.16 EH/s recorded on Nov. 12, 2022. Network’s Hashpower Surges to New Heights, Difficulty Change Anticipated in Eight Days Bitcoin’s computational power is running hot during the first week of the new year as it broke its first record in 2023. According to…