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Luxembourg Regulator Red-Flags Activities of BitPay Clone Website

Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), has red-flagged the activities of a fraudulent clone website that is impersonating cryptocurrency payment services provider BitPay.On Sept. 18, the CSSF issued a warning about a company going by the name Bitbay Europe S.A. The website alludes to being

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15 Industrial Countries to Develop Global Crypto System to Stop Illegal Activities

According to the leading Asia news outlet Nikkei Asian Review, several major industrial countries have joined forces to create a new infrastructure that collects and share personal information of users who are associated with crypto transactions. The aim is to prevent the illicit activities of money laundering and financing terrorism

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Central Bank’s Draft Law Requires Licenses for Crypto-Related Activities

A new banking law drafted for the Central Bank of Egypt (CBE) would make it mandatory to obtain licenses in advance of creating, advertising or operating platforms for issuing or trading cryptocurrencies. The news was reported by online newspaper The Egypt Independent on May 28.Citing an official source’s remarks

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Startup to Clamp Down on Illicit Activities and Welcome Consumers

For the everyday consumer, cryptocurrencies and blockchain are still shrouded in mystery. User interfaces that are difficult to understand represent a major barrier to entry, with slow transaction speeds frustrating open-minded people who are trying to use the technology for the first time.An upcoming blockchain network says change is desperately needed

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Financial Action Task Force Urges UK to Improve AML Activities in Cryptocurrency Sector

The Financial Action Task Force (FATF), an intergovernmental financial security body, has demanded the United Kingdom step up its cryptocurrency monitoring. According to a new report released Dec. 7, the country needs increased measures to prevent money laundering and combat terrorist financing (CFT).As part of its dedicated “mutual evaluation” on

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Cryptocurrencies Are ‘Perfect,’ But Often Used for Illicit Activities

Cryptocurrencies are "perfect", but are often used for bad purposes, executive chairman of multinational Spanish banking group Banco Bilbao Vizcaya Argentaria (BBVA) Francisco Gonzalez Rodriguez stated in an interview with CNBC Friday, September 14.Gonzalez has claimed that the world is going through "an incredible digital revolution" which will eventually lead

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US Regulator Fines and Halts Activities of Fraudulent Tomahawkcoin Issuer

The U.S. Securities and Exchange Commission (SEC) announced in an order Wednesday, August 14, that it has barred and fined the creator of Tomahawkcoin over a fraudulent Initial Coin Offering (ICO). Tomahawkcoin, which David T. Laurance ran as a token through his corresponding company Tomahawk Exploration LLC, failed to raise

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