US Government Tells Bitcoin Bomb Scam Victims to Inform FBI, Not Pay Ransom Money

A suspected scam which threatens to blow up buildings unless recipients pay a Bitcoin (BTC) ransom caught the attention of the United States’ government Dec. 13. The scam, which centers on anonymous emails demanding payment of $20,000 in Bitcoin or face a “mercenary” detonating a device in “your building,” has appeared throughout the world. Now, the U.S. National Cybersecurity and Communications Integration Center (NCCIC) opted to release dedicated advice to victims, advising the only action necessary on receipt of an email was to inform the FBI. The NCCIC is “aware…

Former AriseBank Executives To Pay $2.7 Mln Fine To Settle ICO Fraud Charges

The U.S. Securities Exchange Commission (SEC) stated that two former executives of AriseBank have been ordered in federal court to pay nearly $2.7 million in fine for allegedly running a fraudulent Initial Coin Offering (ICO). The ICO was stopped by the SEC in late January and it filed a complaint in federal district court in Dallas. The federal court also prohibited the two executives – then-CEO Jared Rice Sr. and then-COO Stanley Ford – from serving as officers or directors of public companies or participating in future offerings of digital…

AriseBank Founders to Pay $2.7 Million in Fines to Settle ICO Fraud Charges

  A United States federal court has ordered two executives from crypto firm AriseBank to pay nearly $2.7 million in fines, according to a U.S. Securities Exchange Commission (SEC) announcement Dec. 12. The ruling follows an investigation by the SEC, which found that AriseBank was  operating a fraudulent Initial Coin Offering (ICO). AriseBank CEO Jared Rice was arrested by the Federal Bureau of Investigation (FBI) on Nov. 28 on charges of defrauding hundreds of investors of over $4 million. Rice allegedly falsely claimed that the bank could offer customers “FDIC-insured…

UK MP Calls for Using Bitcoin to Pay Local Taxes and Other Bills

Photo: QuoteInspector While some countries are still trying to deny the fact that cryptocurrencies have enough potential to transform all spheres of our life, others are trying to find the most appropriate use cases that Bitcoin can be applied to. Yes, today Bitcoin, as well as other cryptocurrencies, is not just an investment tool, it can easily replace traditional fiat assets and ensure much flexibility for users. Moreover, the technology behind it has already proved its capacities to be utilized in a wide range of industries. Now, there are serious…

Network of Self-Service Kiosks Will Allow Public to Pay Bills and Make Purchases in Crypto

A blockchain-based company has unveiled plans to roll out a global network of self-service kiosks — enabling millions of unbanked people around the world to pay bills, make purchases and access other financial services. KIBIS says a plethora of services are available through its kiosks. Consumers can pay for gas, water and electricity, book airline tickets and check flight details, subscribe to TV subscription services such as Amazon Prime and Netflix, and buy prepaid vouchers for themselves or loved ones. The payment method accepted by the self-service kiosks will be…

Canadian Payments Startup Glance Rolls out “Pay With Bitcoin” Feature Across all Merchants

Canadian payments company Glance has announced that its users will now be able to use Bitcoin as a payment method across all existing merchants and services. In a press release issued November 29, 2018, the company explained that the new feature will be called “Pay With Bitcoin.” Despite the name, however, Glance’s solution differs from traditional cryptocurrency-based payment processors. Converting to “Glance Dollars” To use the feature, Glance Pay users will have to first convert their bitcoin balance to a platform-specific currency, called Glance Dollars. The company explained in its release:…

McAfee Unfazed After SEC Says Promoting ICO Without Disclosing Pay is Fraud

The impassioned crypto community on Twitter, specifically prominent commentators and analysts, took up arms over the weekend, as the U.S. Securities and Exchange Commission (SEC)’s indictment of DJ Khaled and Floyd Mayweather became an industry flavor of the month. But why? SEC Fines DJ Khaled, Floyd Mayweather In ICO Ruling Per previous reports from NewsBTC, last week, the SEC kicked the initial coin offering (ICO) subset of crypto assets while it was already writhing, name-dropping DJ Khaled and Floyd Mayweather, two hotshot celebrities with jaw-dropping social media followings, in a crypto-related case. The American…

US: Ohio Becomes First State Where Businesses Can Pay Taxes With Bitcoin

Up to 23 different kinds of taxes can be paid with the cryptocurrency according to the state’s treasurer. Ohio has just become the first U.S. state and one of the first governments in the world to allow businesses to pay taxes, including sales and public utility taxes, with bitcoin. State Treasurer Josh Mandel announced Monday that businesses can now register for the program through the website OhioCrypto.com, a portal that will, via a third-party processor called BitPay, convert the digital currency into dollars that will then be deposited into the state’s…

All Star Team Announces WHIRL, a Socially Driven ‘Pay it Forward’ Crowdfunding Platform Built on the Blockchain

ADVERTISEMENTS Backed by an all star team, blockchain, and crowdfunding veterans, Roel Wolfert (Bancor, VISA) and Martijn Hekman (World Vision, United Nations),  are thrilled to announce the launch of WHIRL, a socially driven crowdfunding platform that’s built on the blockchain. WHIRL gives the world a new way to finance their dreams and obligations, while introducing a revolutionary incentive system to encourage giving and to maximize campaign success. Powered by a team of 20 with support from an extensive business network, WHIRL launches after years of research, and a year and…

Student Invests $5k in Crypto, to Pay $400k in Taxes

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. In May 2017, a college student based in the US invested $5,000 in Ethereum (ETH), when the digital asset was worth around $50. Within merely months, the price of ETH skyrocketed from $50 to $1,281 at its peak, as the cryptocurrency market achieved a valuation of $800 billion. With a base return of 25-fold, having made over $125,000 in ETH, the individual invested in a few…