Federal Court Judge orders Benjamin Reynolds Control-Finance Ltd. to pay $571 million for Bitcoin fraud of 1000 people including 169 in U.S.

A federal court Judge in New York has ordered Benjamin Reynolds of Control_finance to pay penalties totaling about $571 million, after finding that he acquired more than 22,000 bitcoin through a fraudulent online scheme. This was announced by the Commodity Futures Trading Commission (CFTC) regulator on Friday. The bitcoin handed over by more than 1,000 customers […]

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Major Canadian cryptocurrency exchange Coinsquare ordered to hand over client info to federal tax authorities

A major Canadian cryptocurrency exchange Coinsquare of Toronto has been ordered to render its client information to federal tax authorities following a first-of-its-kind court ruling. The Federal Court issued an order compelling Coinsquare Ltd. to reveal customer details to the Canada Revenue Agency as it expands its enforcement among cryptocurrency holders and traders. The tax agency […]

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MIT Media Lab begins major effort to strengthen Bitcoin security of its operating systems and networks, and penetration defenses

A new Bitcoin Software and Security Effort through the MIT Media Lab. The four-year research and development program will seek to harden the Bitcoin network and guide the industry’s commitment to funding open source software. This will include contributing to Bitcoin Core development as well as  long-term research, such as investigations into the stability of fee-based […]

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Coinbase pays $6.5 million to settle charges by CFTC of fraudulent “wash trades” in Bitcoin and Litecoin

The US Commodity Futures Trading Commission (CFTC) said on Friday digital asset exchange Coinbase Inc paid $6.5 million to settle charges it reported misleading transaction data that potentially inflated the apparent trading volume on its professional GDAX platform. The fine was issued for  “wash trades” in litecoin and bitcoin by a former Coinbase employee on […]

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DOJ’s Cryptocurrency Enforcement Network to attack criminal activities as reports of fraud and theft mount

A new U.S. Justice Department report is taking aim at the “emerging threats and enforcement challenges” associated with digital currencies, establishing a “Cryptocurrency Enforcement Framework” to address the massive uptick of fraud, criminal activity and theft in the Cryptocurrency trading including BitCoin and cybercurrency platforms. The Department of Justice says that while cryptocurrency could fundamentally […]

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SEC orders Telegram Group to give back $1.2 Billion to investors for unregistered digital tokens and pay $18.5 million penalty

The Securities and Exchange Commission (SEC) has ordered the Telegram Group Inc. (Telegram) and its wholly-owned subsidiary, TON Issuer Inc to repay $1.2 Billion to investors for violating federal securities laws in their unregistered offering of digital tokens called “Grams.” Telegram must return more than $1.2 billion to investors and to pay an $18.5 million […]

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Cryptocurrency exchange Coinbase seeking to license its blackchain analytics to the IRS and DEA to identify crypto users worldwide

Cryptocurrency exchange Coinbase is seeking to license its blockchain analytics software to two U.S. government agencies, the Drug Enforcement Administration and the Internal Revenue Service . Those agencies are considering purchasing a use license from Coinbase for a cloud-based software called Coinbase Analytics. According to the prospective DEA contract, Coinbase’s software will provide “identity attribution” for crypto addresses […]

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Financial graph monitoring cryptocurrency stocks.

What Is Cryptocurrency?

Cryptocurrency is a popular digital medium of exchange. Cryptocurrency is not controlled by a central authority, such as the Federal Reserve. This theoretically makes cryptocurrencies immune to government control and interference, which is an attractive feature to cryptocurrency investors. In addition, cryptocurrencies can be transferred directly between two parties via the use of public and […]

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As COVID-19 tanks stock market, cryptocurrency interest accounts drawing investors some high as 15% ; but better read the small print

As the stock market has sustained a direct hit by the CORONA-19 Virus, investors are seeking alternatives like precious metals and cryptocurrencies like BITCOIN and now cryptointerest accounts some of which are offering up to 12% interest on stable coins. One company, Crypto.com offers investors earning up to 6.5% on Bitcoin, 12% on stablecoins and […]

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