CipherTrace Detects Major Uptick in Cross-Border Payments to Offshore Crypto Exchanges

Disclaimer: A CipherTrace spokesperson informed Cointelegraph that these numbers are subject to change as new information becomes available There has been a 47% increase in the number of cross-border payments from United States crypto exchanges to offshore exchanges since early 2017, posing an ostensible quandary for regulators. The data was reported in the latest cryptocurrency AML (Anti-Money Laundering) report from crypto intelligence firm CipherTrace, shared with Cointelegraph on April 29. According to CipherTrace, an analysis of 164 million bitcoin (BTC) transactions revealed that cross border payments from U.S.-based exchanges to…

China Blocks Access to Over 120 Offshore Digital Currency Exchanges

China is continuing its crackdown on bitcoin and cryptocurrency-related ventures. The country is now blocking access to more than 120 offshore cryptocurrency exchanges utilized for trading purposes by mainland customers. In addition, officials are also looking to shut down websites pertaining to both cryptocurrencies and initial coin offerings (ICOs), and to prevent businesses from accepting payments in digital assets. ICOs were initially banned last September and were described as “unauthorized” and “illegal” fundraising activities. That same month, Chinese regulators ordered all cryptocurrency exchanges within the country to cease trading practices.…

IRS Offshore Amnesty is Closing, But Crypto Investors Still Have Time: Expert Take

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. This text shouldn’t be considered as legal advice. In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the…