Category Archives: cointelegraph.com

Report: Financial Criminal Allegedly Revealed as Figure Behind ‘Blockchain Terminal’ ICO

The man behind the “Blockchain Terminal” (BCT) Initial Coin Offering (ICO) has been ousted as a financial criminal who concealed his former identity from employees and investors alike. An investigation into the circumstances were published Dec. 11 on news outlet The Block Crypto The BCT project and its affiliated firm, CG Blockchain, are alleged to have raised as… Read More »

Denmark Targets 2,700 Bitcoin Traders for Tax Payments After Tip-Off From Finland

Denmark’s tax agency (Skattestyrelsen) has confirmed it is “identifying” 2,700 individuals it says owe taxes on Bitcoin (BTC) gains, according to a Dec. 12 press release. According to Skattestyrelsen, the Danish citizens bought and sold Bitcoin via an unnamed Finnish cryptocurrency exchange between 2015 and 2017, but did not declare any profits or losses on tax documents. Now,… Read More »

Nigerian Banking Regulator Warns Bitcoin’s Disintermediation Is a ‘Critical Concern’

The director and chief executive of the Nigeria Deposit Insurance Corporation (NDIC) has expressed concerns about cryptocurrencies and disintermediation, English-language Nigerian news outlet The Sun reported Dec. 12. Disintermediation is when consumers begin investing directly in markets, rather than through intermediates like banks. The NDIC was established in 1988 to ensure safety in the just-liberalized banking sector. This… Read More »

Reports: Crypto Exchange Kraken to Plan Private Offering After ‘$4 Billion’ Valuation

United States cryptocurrency exchange Kraken is considering a private offering to high net worth investors, Finance Magnates reported Dec. 12, quoting emails sent by the company. Kraken, which is currently the subject of a lawsuit over its support of the competing forks of altcoin Bitcoin Cash (BCH), has reportedly valued its shares at $4 billion. According to Finance… Read More »

UAE Central Bank, Saudi Arabia to Develop Joint Cryptocurrency for Interbank Transactions

The United Arab Emirates’ (UAE) central bank is collaborating with the Saudi Arabian Monetary Authority (SAMA) to issue a cryptocurrency accepted in cross-border transactions between the two countries. English-language Dubai-based media outlet GulfNews reported on this collaboration on Dec. 12. Mubarak Rashed Al Mansouri, the governor of the UAE’s central bank, said during a meeting on the global… Read More »

New Zealand: Financial Authority Blacklists Another Three Crypto Platforms Marked as ‘Suspected Scams’

New Zealand’s Financial Markets Authority (FMA) has added three more crypto platforms to its blacklist that warns about scams, a release by the FMA reveals Wednesday, Dec. 12. OneLife Network Limited and its associated entity OneCoin Limited were added to the list because they “bear the characteristics of a scam” and promise unrealistic returns. Moreover, the FMA has… Read More »

Crypto Platform Cubits Begins Insolvency Procedure After Alleged Hack, Locks Users’ Funds

United Kingdom-based cryptocurrency payment platform Cubits has filed for administration following a sudden outage that locked customer funds, a company press release revealed Dec. 11. The act of filing for administration means that an insolvent company has appointed an external administrator in order to act of behalf of its creditors. Cubits, the trading name of legal entity Dooga… Read More »

SEC Chairman Expresses ‘Optimism’ About DLT Investment Opportunities in Senate Testimony

United States Securities and Exchange Commission (SEC) chairman Jay Clayton has said this week that he is “optimistic” that developments in distributed ledger technology (DLT) can “help facilitate capital formation.” Speaking as part of a testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs — published on the SEC website Dec. 11 — Clayton added… Read More »

Ex-Mt. Gox CEO Karpeles Denies Embezzlement as Prosecutors Call For Ten Year Jail Term

The former CEO of defunct Japanese Bitcoin exchange Mt. Gox, Mark Karpeles, could spend ten years in jail over alleged embezzlement, Japanese daily news outlet Nikkei reported Dec. 12. Karpeles, who presided over the major hack of Mt. Gox in 2014 that resulted in the loss of 850,000 BTC ($2.87 billion), has repeated denied any wrongdoing. In a… Read More »

Binance Tackles Cryptocurrency ‘Misinformation’ With Multilingual Educational Article Bank

Cryptocurrency exchange Binance has launched a collection of educational content comprising almost 500 articles in order to fight “incorrect” and “misleading” information, a press release confirmed Dec. 12. Binance, which regularly tops the list of the world’s largest exchanges by volume traded, will initially support 15 languages via the project. The launch and development is a product of… Read More »