User Profiling Can Help Regulators Identify Illegal Crypto Activity, Says FATF
The international watchdog has recommended comparing users' age and wealth with their crypto transactions to identify possible criminal activity. Source
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Illegal
Illegal Crypto Mining is Booming in the Republic of Abkhazia
The Republic of Abkhazia is witnessing a surge in crypto mining activities despite crypto-related activities being illegal since 2018. Customs have reported that mining hardware worth over $589,000 has crossed the border over the past six months.According to Nuzhnaya Gazeta, importing crypto mining rigs remains legally permissible. Importers are required
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California Resident Pleads Guilty to Laundering Millions Using Illegal Bitcoin ATMs
Kais Mohammad, a.k.a. “Superman29,” has agreed to plead guilty to federal charges he ran an unlicensed Bitcoin ATM network that laundered up to $25 million, including funds that originated in criminal activity. According to a recent press release by the Department of Justice, the Orange County, California, resident is pleading guilty
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Venezuela Seizes 315 Bitcoin Mining Rigs: Miners Discuss Illegal Confiscation, Police Extortion
The Venezuelan military has seized 315 Bitmain Antminer S9 bitcoin mining rigs it claims are not properly registered to operate in the country. Although cryptocurrency mining is legal in Venezuela, miners say they have been unfairly treated, citing illegal seizures of mining equipment and police extortion.Venezuela Seizes Bitcoin Mining
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Europol Busts $17M Illegal Media Streaming Business Dealing in Cryptos
In a recent investigation, European police busted a major illegal online streaming business that had reportedly been running for the past five years.Bloomberg reported that the police conducted 15 house searches, arresting 11 people and successfully taking down 50 servers across nine countries.The European law enforcement agency Europol claimed to
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Illegal Crypto-Bookmakers Pose Risk to Integrity of Hong Kong Horse Racing
The rise in unregulated cryptocurrency betting markets poses a threat to the integrity of horse racing in Asia. So warned Hong Kong Jockey Club’s executive director of racing integrity and betting analysis, Tom Chignell, at the Asian Racing Conference in Cape Town.As reported in the South China Morning Post,
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‘The Internet Was Illegal’ and Other Early Stories With Zooko Wilcox
The best Sundays are for long reads and deep conversations. Earlier this week, the Let's Talk Bitcoin! show enlisted CoinDesk reporter Leigh Cuen and early cypherpunk Zooko Wilcox for a conversation on the history, challenges and long term development path of early, formative technologies. which we often hear modern blockchain
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Chinese Regulators Probe Fitness App Qubu for Illegal Crypto Fundraising
The latest on the crypto scam list is a pyramid scheme organized by a Chinese fitness app called Qubu. The app promises its users some amount of its native tokens ‘Candy’ for completing daily exercises. All the user has to do is to walk 4,000 steps a day for 45
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Former Kraken Employee Sues Exchange for ‘Unethical and Illegal Business Tactics’
A former employee of United States-based cryptocurrency exchange Kraken initiated legal proceedings against the company in connection with breach of contract and sanctions violation, among other issues.Per a court document filed on Nov. 26, Nathan Peter Runyon — a marine wartime veteran and ex-employee of Kraken, where he served
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Ex-Kraken Employee Alleges ‘Unethical and Illegal Tactics’ in Discrimination Lawsuit
Kraken, the U.S.-based cryptocurrency exchange, is being sued by an ex-employee who alleges the company unfairly fired him for raising serious issues with its business practices.The case – filed Nov. 26 in California– has been brought by Nathan Runyon, a military veteran with disabilities, and, while he seeks damages related
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