However, the defendants did not take into account the volatility of the crypto world. As the digital assets that purchased the initial tokens did not offer guarantees to pay out the promised interest rate, it caused an issue with company operation. Instead of making customers aware of this issue, Mr. Acree and Mr. Keough decided…
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Mining for Bitcoin is not illegal in Malaysia, which is partly why Malaysia is one of the most popular countries for Bitcoin miners. It currently comes into the top 10 mining locations, accounting for over 3% of the total Bitcoin mining in the world. However, bitcoin mining does attract criminals, with most opting to steal…
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The ban follows warnings and concerns that financial information from TikTok could be misleading. The FCA has also expressed its concerns over young individuals being at risk in investing, taking their information from social media. The growing pressure has driven Google and other internet companies to take measures against scam ads showing on their platforms…
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Barclays' decision is expected to cause other banks to decide on how they will handle Binance. Both Natwest and Santander have made comments related to crypto exchanges recently, with Natwest taking the decision to decrease the daily limit that customers could make to crypto exchanges. This news from Barclays, as well as the decision by…
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Since January, crypto asset firms have had to register with the FCA, a measure designed to prevent money laundering and terrorist financing. Regulators across the world have strengthen their oversight on cryotocurrency. They have expressed concerns with crypto assets such as Bitcoin because of its volatility and risk to consumers and potential for money laundering…
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Coinbase also discussed in its press release the already thriving scene surrounding blockchain and noted that Germany is, in fact, the second-ranking country after the US when measuring the amount of Bitcoin nodes being processed. The announcement revealed that Coinbase Germany GmbH is due to be launched in the next few weeks, intending to serve…
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This huge blow to the crypto exchange giant comes as a reaction to a warning placed by the Japanese regulator, the FSA, which on Friday stated that Binance had been offering its crypto exchange services to customers in the country without ever having officially registered with the Financial Services Agency. The latest warning is the…
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The biggest difference between cryptocurrencies which function via decentralised systems and digital currencies run via central banks would be the fact that those from central banks would have the ability to pay out money to individuals on a direct basis, as the coins would be issued, backed and operated by domestic national banks. This would…
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The FCA stated: Enthusiasm for cryptoassets is growing with over half of crypto users saying they have had a positive experience so far and are likely to buy more (rising from 41% to 53%). Fewer people also regret having bought cryptocurrencies, down from 15% to 11%. The research reveals that 1 in 10 of the…
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Anti-money laundering and counter terrorist financing legislation are designed to protect against the transfer and disguise of funds from criminal activity, or funding of terrorist groups. The FCA stated in the official announcement: While this is not the only element that the FCA will assess in relation to an applicant, the FCA will only register…
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