Money laundering in Mexico is a major problem although the South American nation has taken a number of steps to strengthen its anti-money laundering system. According to the United States authorities, Mexico continues to be one of the most difficult jurisdictions for money laundering, particularly with regard to money laundering operations involving cross-border smuggling of […]
American Cryptocurrency Tax Defaulters Receive Another Warning Letter
Internal Revenue Service ( IRS) has sent another stack of letters to alleged cryptocurrency tax defaulters. The letter warns U.S. crypto holders that they have information that indicates that they may have misreported their income and pay taxes on their cryptocurrency transactions. According to a Bloomberg report, the U.S. tax agency verified that it had sent […]
South Korean Authorities Confiscate Major Crypto Exchange for Wash Trading
The oldest newspaper in South Korea, Seoul Shinmun, reported on August 26 that the third-largest cryptocurrency exchange in the country, Coinbit, had been seized by law enforcement authorities on allegations of bloating trading volumes. According to the report, the South Korean authorities invaded the exchange offices on Wednesday morning after discovering that the platform had […]
Australian Fintech Platform Sues Ripple Over Brand Identity Misdemeanor
Ripple faces trademark infringement charges pressed by the Australian Fintech Platform New Payments Platform (NPPA). The firm filed a lawsuit with the Federal Court of Australia, claiming that the American-based blockchain firm breached its brand identity in branding Ripple’s PayID platform. According to a court document filed on Friday last week, the Australian fintech platform […]
China’s Blockchain and Fintech Superiority Might Oust America-led Global financial System, Says Ripple Co-founder
China leads the world in terms of blockchain and fintech, while the US dollar is the reserve currency of the world. The United States has drawn a lot of criticism from industry experts for its inaction on cryptocurrency and blockchain technology. The latest person to comment on this subject is the co-founder of Ripple, Chris […]
Indian Citizen Indicted after Purchasing Drugs Worth $27,000 Using Bitcoin on Dark Web
There is no question that cryptocurrencies, by providing easier access to capital and financial services, have the potential to enable social and economic growth worldwide, particularly in developing countries. On the contrary, we can not ignore the fact that criminals use cryptocurrencies like Bitcoin to run and fund illegal activity on the dark web. However, […]
Ethereum Miners Hit Back at Plan to Cut Miner Rewards by Over 70%
A fresh proposal for an Ethereum improvement (EIP), aimed at reducing block rewards by a massive 75 percent, caused severe disapproval by Ethereum miners who claim that the move would jeopardize the safety of the network. Miners say that those responsible for the new EIP-2878 care less about the security of the blockchain and are […]
OmiseGo (OMG) Token Surges by 156% Following USDT Integration to Hit $8.79
OMG tokens might be the hottest crypto asset in the market right now. On August 20, Tether announced the integration of its stablecoin, USDT, on the OmiseGo (OMG) Network. Following the announcement, the price of OmiseGo’s native token, OMG, skyrocketed by almost 160 percent to reach $8.79. Back in June, after the first partnership with Tether, the […]
USDT Surpasses Ripple (XRP) to Recoup Top 3 Cryptocurrency Spot
Tether (USDT), the most popular stablecoin in the world, is yet again battling Ripple’s XRP for the top three spots. Can USDT maintain the number 3 spot? Earlier today, the world’s largest stablecoin, Tether, became the third largest cryptocurrency by market capitalization, forcing XRP to the fourth spot, according to blockchain analytics firms Messari and […]
Proposed Pan-Europe Crypto and Digital Finance Regulation Framework to Boost Crypto Assets Growth
According to a recent report by the financial news agency IFC Review, the European Commission, the law-making arm of the European Union, is concluding the first-ever crypto and digital finance regulatory structure proposed by Europe. The pan-European structure is intended to strengthen the development of crypto assets in the long run. If the regulation is […]