Indian Police Arrest Operators of $2.6 Million Bitcoin Ponzi

Indian authorities have arrested two individuals accused of operating a bitcoin ponzi scheme that swindled some 300 bitcoins, approx. $2.6 million in current prices, from 5000 victims. The duo, alleged to be running a multi-level marketing (MLM) scheme that incentivized investors to lure in others into the scheme, promised high returns on bitcoin investments through

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Iran Central Bank Bans Domestic Banks from Cryptocurrency Dealings

Citing money laundering concerns, the Central Bank of Iran (CBI) has banned the country’s banks from offering services to crypto firms or dealing in cryptocurrencies. The CBI’s supreme committee, also in charge of curbing money laundering and fighting capital flight in Iran, has issued a circular prohibiting banks and financial institutions from transactions that enable

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Taiwan Aims to Enforce Cryptocurrency Regulations by November

Taiwan’s Minister of Justice, Qiu Taisan, has called for cryptocurrency regulations to be in place by November in the interest of preventing money laundering. Qui Taisan said the country’s Ministry of Interior, the Central Bank, the Bureau of Investigation and other entities will be involved in determining how to regulate bitcoin. Qui Taisan was interviewed

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SEC Charges Third ‘Mastermind’ In Centra Tech ICO Fraud

The U.S. Securities and Exchange Commission (SEC) has announced charges against a third partner in an investigation of Centra Tech Inc.’s $32 million ICO which was promoted by legendary boxer Floyd Mayweather. The SEC earlier this month filed charges against the Centra Tech alleging that its ICO — which raised $32 million— was a fraudulent

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Cryptocurrency Market Will Get ‘Much Bigger’: Former JPMorgan Banker

Daniel Masters, who previously led JPMorgan’s global energy trading desk, says cryptocurrencies are fueling a financial revolution. Masters is now chairman of digital investment bank Coinshares and chief investment officer at Global Advisors, and he explained in an interview with Bloomberg how distributed ledger technology is doing for the democratization of peer-to-peer transactions what the

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What’s Next for Cryptocurrency? Distribution of Power

On this third and final piece about different cryptocurrency purposes and the role education plays in regulation, I aim to discuss why the concentration of power among cryptocurrency holders will dictate how bitcoin gets adopted. My expectation is that whatever I write makes you think on how could power be better distributed. Hopefully,  I’ve saved

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Genesis London Conference: Study Shows Ethereum is More Decentralized Than Bitcoin

At the Genesis London blockchain conference held in February by Binary District, Cornell professor, cryptocurrency expert, and computer scientist Emin Gün Sirer said in an interview that a study done by prestigious university Cornell has shown the Ethereum blockchain network is currently more decentralized than bitcoin. Ever since the debut of Ethereum in 2015, false

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Russia’s Supreme Court Calls For Review Of Bitcoin Website Ban

The Supreme Court of Russia has ordered the St. Petersburg City Court to review an appeal against blocking bitcoininfo.ru, a cryptocurrency website, according to RAPSI, the court’s press service. In 2016, the Vyborgsky District Court of St. Petersburg granted a prosecutorial request to block the website, according to the court. The court held that information about

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‘Uncertain’ Crypto Mining Demand Sees Taiwan Chipmaking Giant Lower Revenue Estimates

Uncertainty in the cryptocurrency mining market has led to the world’s leading chipmaker, Taiwan Semiconductor, to lower its revenue forecast for the year. Adding insult to injury, weakness in demand for Apple’s iPhone, for which Taiwan Semi is the supplier, is also weighing on this year’s expected sales. Meanwhile, bitcoin mining was the champion of 2017, helping to

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Indian Court Admits Crypto Exchange Petition, Issues Notice to Central Bank Against Banking Ban

Digital asset trading platform CoinRecoil’s writ has been admitted by the High Court of Delhi with the announcement of a hearing on May 24. Reserve Bank of India (RBI), The Union of India through Secretary, Ministry of Finance and GST Council have received a notice from the court as well. CoinRecoil is Kali Digital Ecosystems upcoming project –

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