Tag: Regulation

Chinese Customs Authority Confiscates 49 Old ASIC Antminers – Regulation Bitcoin News

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Chinese authorities continue to crackdown against bitcoin miners after they seized 49 second-hand Bitmain ASIC Antminers from unnamed individuals that recently attempted to smuggle in the devices using falsified documents. Devices to Be Disposed of in Accordance With Regulations Huangpu Customs of China’s Guangdong Province has said it seized 49 used bitcoin (BTC) miners from an unnamed party that was attempting to smuggle the devices into the country. Local reports say the old machines will be disposed of in accordance with local regulations. According to a report published on Monday,…

UK Police Return $5.4 Million to Cryptocurrency Fraud Victims – Regulation Bitcoin News

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The U.K. police have returned over $5.4 million to victims of an international cryptocurrency scam. The police say that almost $10 million more will be returned to victims. So far, 127 more people have filed a claim to recoup their investments. Police Return Funds to Crypto Scam Victims The U.K.’s Greater Manchester Police (GMP) announced Friday that about $5.4 million of the funds seized from an international cryptocurrency scam rumbled by its police officers in July last year have been returned to rightful owners. The announcement details: Over four million…

Indian Police Arrest 11 People in Cryptocurrency Scheme Defrauding 2,000 Investors – Regulation Bitcoin News

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Indian police have arrested 11 people so far in connection with a fraudulent cryptocurrency scheme that has duped about 2,000 investors out of $5.4 million. 11 People Arrested so Far in Cryptocurrency Scam in India Indian police have cracked down on a cryptocurrency investment scheme that has duped over 2,000 investors out of 40 crore rupees ($5.4 million). The number of arrests reached 11, seven of whom were arrested on Sunday in Maharashtra’s Nagpur, according to PTI. The main accused, Nishid Wasnik, and his wife Pragati, along with two other…

European Union Open to Cryptocurrency with Regulation Attached

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Beneath the exchange-traded products and the islands of crypto innovation in cities like Berlin and Tallinn lies a continent that has an at best uneasy relationship with digital assets. The European Union remains concerned that criminal organizations and terrorists can exploit the anonymity of cryptocurrencies to use them for nefarious purposes and to obfuscate fund flows.   Considering the number of cryptocurrency-linked investment products listed on European stock exchanges, and one could be misled into thinking that the European Union has declared open season on the nascent asset class. But…

Fed Bans Senior Officials From Cryptocurrency Investing – Regulation Bitcoin News

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The Federal Reserve has banned its senior officials from investing in cryptocurrency. “Officials covered by the new rules will have 12 months from the effective date of the rules to dispose of all impermissible holdings,” said the Federal Open Market Committee. Senior Federal Reserve Officials Prohibited From Investing in Cryptocurrency The Federal Open Market Committee (FOMC) announced Friday that it has “unanimously formally adopted comprehensive new rules for the investment and trading activity of senior officials.” The FOMC is a committee within the U.S. Federal Reserve System charged with overseeing…

Russian government fails to forge a consolidated stance on crypto regulation

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On Feb. 18, the Russian Ministry of Finance kicked off public consultations on the rules of cryptocurrency issuance and transactions. While a welcome development, it is less than the country’s crypto space had expected to get. Earlier in the week, the government announced that by Feb. 18, a bill containing the finance ministry and central bank’s consolidated position on crypto regulation would be drafted. Updated estimates suggest that it will take at least another month for draft legislation to see the light. The main reason for the delay appears to…

Russian Finance Ministry to Draft 2 Crypto Laws as Central Bank Prepares Own Bills – Regulation Bitcoin News

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The Russian Ministry of Finance has proposed the adoption of two pieces of legislation aimed at regulating cryptocurrencies. The drafts will be presented for public discussions expected to continue until March 18. Media reports have revealed that Bank of Russia has been working on alternative bills. Russian Ministry of Finance to Open Consultations on New Crypto Legislation Russia’s finance ministry has started drafting two new bills to comprehensively regulate cryptocurrencies and related activities in the country. The treasury department proposes a new law “On Digital Currency” and a bill to…

UAE Prepares to Launch Nationwide Crypto Licensing System in Line With Global Standards – Regulation Bitcoin News

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The United Arab Emirates (UAE) is getting ready to start issuing federal licenses to cryptocurrency service providers in the first quarter. The UAE crypto regulation will take a hybrid approach. The government hopes that a nationwide crypto licensing system will attract big companies to the region. UAE Prepares to Regulate Crypto Sector Nationwide The United Arab Emirates (UAE) is getting ready to start issuing federal licenses to virtual asset service providers (VASPs) by the end of the first quarter, Bloomberg reported Thursday, citing an unnamed government official. The UAE’s Securities…

FBI Launches ‘Virtual Asset Exploitation Unit’ With Specialized Team of Crypto Experts – Regulation Bitcoin News

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The Federal Bureau of Investigation (FBI) has launched a new unit to tackle crypto exploitation. The new team will work with the National Cryptocurrency Enforcement Team of the Department of Justice (DOJ) to combat “the criminal misuse of cryptocurrencies.” FBI Establishes New Crypto Unit; DOJ Appoints First Director for National Cryptocurrency Enforcement Team The Federal Bureau of Investigation (FBI) has launched a new crypto unit. According to an announcement by the U.S. Department of Justice (DOJ): The FBI’s new Virtual Asset Exploitation Unit [is] a specialized team of cryptocurrency experts…

US Lawmaker Introduces Bill to Protect Privacy in Cryptocurrency Transactions – Regulation Bitcoin News

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A U.S. congressman has introduced the “Keep Your Coins Act” in order to “preserve Americans’ right to privacy in transacting with crypto assets.” The lawmaker says, “this legislation would prohibit any federal agency from promulgating a rule that would impair a person’s ability to act as self-custodian.” US Lawmaker Seeks to Protect Privacy in Crypto Transactions With ‘Keep Your Coins Act’ The office of Congressman Warren Davidson (OH-R) announced Thursday that the lawmaker has introduced the Keep Your Coins Act “to protect transaction privacy.” The announcement explains that the proposed…