Entries by Regulated

Tether and Bitfinex Sued for $1.4 Trillion

A law office from New York filed a lawsuit against a cryptocurrency exchange Bitfinex and Tether, claiming they manipulated the crypto market, causing harm to traders while reaping benefits for themselves.According to the lawsuit, Bitfinex and some of the associated entities participated in fraudulent, competition-distorting, and market-manipulation activities, causing financial damage to the plaintiffs.Additionally,...

Bittrex Selects Chainalysis Software to Detect Suspicious Transactions

Bittrex a cryptocurrency exchange that has been in operation since 2014 and a Top-100 exchange by trade volume, has introduced a real-time monitoring solution to help it detect suspicious activity on its cryptocurrency trading platform, developed by the blockchain analysis company Chainalysis. The new software is known as Chainalysis KYT (Know Your Transaction) and it...

CEO of the Embattled Brazillian Crypto Company Owns 25,000 Bitcoins

October 08 - CEO of the Embattled Brazillian Crypto Company Owns 25,000 Bitcoins A leaked tax filing shows that Claudio Oliveira, the Chief Executive of the embattled Brazilian cryptocurrency company Grupo Bitcoin Banco, owns as much as 25,000 Bitcoin. This amount is currently worth more than $209 million USD.A person familiar with Brazil’s tax authority,...

Fully Insured Custody Provider Enters the Market

The new cryptocurrency custodian KNØX has entered the market today with an extensive fund insurance program arranged by the insurance provider giant Marsh & McLennan, Coindesk reports. The Canada-based KNØX provides protection for its customers, such as asset managers and hedge funds, through its storage feature which keeps the cryptographic personal keys offline. Marsh’s insurance...

Two Individuals Arrested For Multi-Million Dollar Cryptocurrency Extortion

A former Ethereum advisor Steven Nerayoff and Michael Hlady (also known as “Michael Peters”) were arrested after allegedly making a threat that they will put the cryptocurrency startup company to an end if they don’t get paid millions of dollars worth of Ethereum (ETH).  “As alleged, Nerayoff and Hlady carried out an old-fashioned shakedown, to...

OKEx Arm in South Korea Delists 5 Coins, Including Monero and Dash

The South Korean subsidiary of a major cryptocurrency exchange OKEx announced plans to delist five major altcoins due to regulatory reasons. Starting Oct. 10, the exchange will stop providing support for Monero (XMR), Dash, Zcash (ZEC), Horizen (ZEN) and Super bitcoin (SBTC). OKEx dropped the 5 cryptocurrencies because they prioritize privacy, making it harder to...

StockX Suffered a Major Hacking Attack in May And Then Misled Its Customers

StockX, a Detroit based startup that runs a popular platform for buying and selling sneakers and other apparel, suffered a major hacking attack in May, TechCrunch reports. The law enforcement agencies are notified of the incident.  On August 08, StockX sent a letter to their customers “Notice of Data Breach”, in which they confirmed that...

Thai AML Chief Pushes For Crackdown on Cryptocurrency

Preecha Charoensahayanon, the secretary-general of Thai Anti-Money Laundering Office (AMLO), has urged legislators to amend the current version of the Anti-Money Laundering Act, with an aim to oblige providers of cryptocurrency exchange services to report their activities to AMLO, Bangkok Post reports. The proposed change will likely result in bringing cryptos under the AML...

Turkey Announces Plans for Central Bank Cryptocurrency

In the light of recent economic challenges with the decline of its sovereign currency, Turkey has proposed the formation of blockchain-based central bank currency. The proposal was put forth in the eleventh development plan 2019-2023 submitted to the Turkish Parliament on JULY 8 2019. The eleventh development plan, published on the government’s official website, contains...