Tag: Organization

Turkish Crypto Exchange Founder Faruk to Be Extradited to Turkey to Face Charges of Fraud and Founding a Criminal Organization: Report

CryptoX – Cryptocurrency Analysis and News Portal Faruk Fatih Öze, the founder of Thodex, one of Turkey’s largest crypto exchanges, will be extradited to Turkey after being arrested in Albania in August to face charges of fraud and running a criminal organization, state media aa.com reported on Friday. Original Source The post Turkish Crypto Exchange Founder Faruk to Be Extradited to Turkey to Face Charges of Fraud and Founding a Criminal Organization: Report appeared first on CryptoX. CryptoX Portal

Germany’s financial regulator orders Coinbase to address ‘business organization’ practices

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The Federal Financial Supervisory Authority of Germany, also known as BaFin, has issued an order related to the business organization of Coinbase’s local arm in accordance with the country’s banking laws. In a Nov. 8 notice, BaFin said it had issued the order to Coinbase Germany GmbH for violations of “proper business organization” under the German Banking Act. According to a copy of the legislation made available by the United States Commodity Futures Trading Commission, Coinbase’s Germany arm should have “suitable arrangements for managing, monitoring and controlling risks and appropriate…

Decentralized Autonomous Organization Statistics Show $10 Billion Is Held by DAO Treasuries – Technology Bitcoin News

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During the early years of the cryptocurrency space, decentralized autonomous organizations (DAOs) and smart contracts were discussed in theory. Nowadays many people consider The DAO, launched in 2016 by members of the Slock.it development team, to be the first smart contract-based DAO. In 2022, there’s a lot more DAOs, as statistics show that $10 billion is held by DAO treasuries. Thousands of DAOs, $10 Billion Held in Treasuries, 1.7 Million Governance Token Holders Well before the concepts were introduced, smart contracts and decentralized autonomous organizations (DAOs) came to the imagination…

5 state regulators allege organization is tied to Russia, scamming users using metaverse casino

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Authorities in the U.S. states of Alabama, Kentucky, New Jersey, Texas and Wisconsin have filed enforcement actions against the Flamingo Casino Club for allegedly perpetrating a scam through nonfungible tokens (NFTs) tied to a metaverse casino. In a Wednesday announcement, the Alabama Securities Commission, Kentucky Department of Financial Institutions, New Jersey Bureau of Securities, Texas State Securities Board and Wisconsin Department of Financial Institutions alleged the Flamingo Casino Club has been “fraudulently soliciting NFTs” it claims are tied to ownership rights of a casino in the metaverse, thereby giving token…

Mozilla to Reinstate Crypto Donations — Organization Will Not Accept Proof-of-Work Cryptocurrencies – Bitcoin News

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During the first week of January, the software community Mozilla revealed it was pausing cryptocurrency donations after citing environmental concerns. 14 weeks later, Mozilla decided last week it will accept crypto donations again, but only from digital assets that leverage a proof-of-stake (PoS) consensus model. Mozilla Plans to Accept PoS Crypto Assets Only, Executive Says PoW Cryptos ‘Significantly Increase Our GHG Footprint’ On April 7, Mark Surman, the executive director at the Mozilla Foundation, published an update about the software community pausing crypto donations. Surman said that it was after…

Ukrainian Charity Organization Launches NFT Sale – Featured Bitcoin News

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A newly established Ukrainian charity organization, Pray4Ukraine, has brought together hundreds of digital artists that are using art to raise funds for the Ukrainian army and civilians devastated by the war. The organization is also attempting to use the power of art to help end the war in Ukraine. 10,000 NFTs Created A newly launched Ukrainian charity project, Pray4Ukraine, has brought together hundreds of the country’s digital artists who have created 10,000 NFT art pieces. Working in concert with Pray4Ukraine, the artists hope to raise funds that will be used…

What is the role of a decentralized autonomous organization in Web3?

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A DAO empowers its community members with voting rights and allows investors to send, receive and store value globally, automatically and anonymously.  For years, automated systems have been viewed as a way to reduce annoying hurdles to humans, such as dealing with lengthy and burdensome traditional bureaucratic systems. A DAOs’ purpose is to primarily to help resolve such issues and encourage humans to focus on better productivity and other more rewarding aspects of an organization. A DAO’s automated system does not require a traditional central management, which is more vulnerable…

Miners Have Moved 30% of Their Equipment Out of Kazakhstan, Industry Organization Claims – Mining Bitcoin News

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Authorized crypto mining businesses have already taken a third of their coin minting hardware out of Kazakhstan, according to the country’s mining association. The news comes amid electricity shortages and upcoming tax hikes that are turning miners away from the Central Asian nation. Bitcoin Miners Start Pulling Machines Out of Kazakhstan Companies, legally operating mining facilities in Kazakhstan, have already relocated around 30% of their mining equipment elsewhere. The President of the National Association of Blockchain and Data Center Industry of Kazakhstan Alan Dorjiyev told Forklog about the migration. The…

Coinbase, Robinhood, Kraken and Other Top Exchanges Join New Anti-Money Laundering Organization

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A slew of prominent exchange platforms are joining a new anti-money laundering initiative. According to a recent blog post by leading crypto exchange Coinbase, it and other popular trading platforms such as BlockFi, Circle, Robinhood, Fidelity Digital Assets, Gemini and Kraken will join the Travel Rule Universal Solution Technology (TRUST), a joint solution created to comply with the U.S. Financial Crimes Enforcement Network’s (FinCEN) Travel Rule. The Travel Rule requires financial institutions to collect and retain certain information related to funds transfers and transmittals in amounts of $3,000 or more.…