Cryptocurrencies

Brazil wants to tight the penalties for financial crimes involving crypto

Brazil wants to tight the penalties for financial crimes involving crypto

Brazilian lawmakers have approved a set of new penalties for laundering money with cryptocurrency. As part of their efforts to create stricter regulations for cryptocurrency-related crimes. According to an official announcement on Wednesday, Brazil’s Special Committee of the Chamber of Deputies has approved a bill. That significantly tightens penalties for financial crimes involving cryptocurrencies like […]

cryptocurrency industry

Senator Elizabeth Warren refers to cryptocurrency industry as a “new shadow bank”

Senator Elizabeth Warren of Massachusetts, one of the most outspoken cryptocurrency critics in Congress, has dubbed the cryptocurrency industry the “new shadow bank.” Warren told the New York Times on Sunday that the cryptocurrency industry provides “many of the same services” as shadow banks. But that it still lacks “consumer protections or financial stability that […]

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On Tuesday, lawmakers will vote on an unaltered crypto tax bill

The provisions aim to raise $28 billion for infrastructure funding through expanded digital asset taxation. And any crypto firm deemed to be a “broker” will be subject to broad third-party reporting requirements. On Monday, Jake Chervinsky, Compound Labs’ general counsel, tweeted. That the US Senate had voted 68 in favor to 29 against ending the […]

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Governor says, Nigeria’s central bank is not discouraging people from trading crypto

Nigeria’s central bank governor, Godwin Emefiele, has reportedly clarified the bank’s position on the use of cryptocurrencies in the country. Which had previously prohibited banks from servicing crypto exchanges. According to local news outlet TodayNG, CBN deputy governor Adamu Lamtek said on behalf of Emefiele. That the bank had not banned Nigerian residents from buying, […]

bitcoin

The Use of Bitcoin Increased During the Economic Recession in Egypt

As the COVID-19 pandemic pushed the Egyptian economy into recession. And unemployment deepened, the benefits of trading. And mining Bitcoin are seen by more and more Egyptians as an alternative source of income. Many Egyptians, particularly young people, are interested in crypto-currencies, according to Al-Monitor. The economist and financial advisor to several investment institutions in […]

cryptocurrencies

Suspended ePayments platform restarts without crypto

The online money transfer platform ePayments is restarting services after a seven-month suspension. And cryptocurrencies support is notably absent this time around. The ePayments is a global money transfer service with more than 1 million accounts and 75,000 debit cards issued. The company made profits of $US23.2 million in 2019 according to its regulator filings. […]

Here’s How the US-China Tension Could Benefit Bitcoin

Tensions between the US and China have risen in recent weeks. The US economy has declined in response, although some observers say it has also helped drive the bitcoin (BTC) cost lower to just under USD 12,000. While the further deterioration of US-China relations could benefit Bitcoin, figures from the crypto-industry told Cryptonews.com that sanctions […]

North Korea’s Crypto-Extortion Efforts Have Expanded Considerably in 2020

North Korea’s Crypto-Extortion Efforts Have Expanded Considerably in 2020

A group of hackers linked to the North Korean regime kept their efforts at crypto-extortion alive in 2020. According to a report published by Chainalysis, a group of North Korean hackers operating under the name “Lazarus” targeted several crypto-exchanges last year. One of the attacks involved creating a fake trading bot that had been offered […]