Bitfinex, one of the largest and most popular exchanges among the crypto investors, has asked customers for personal information, to share it with the authorities in the British Virgin Islands, all in accordance with the local law and due to a fact that Bitfinex is actually based in this specific location. In a notice...
Continue reading…
Category: Cryptocurrency
Bermuda preps to become a global center of virtual currency including major virtual currency exchange
The island of Bermuda is preparing virtual currency legislation as part of its plan to attract financial technology entrepreneurs. The Virtual Currency Business Act (VCBA) defines "virtual currency business" as the provision of issuing, selling or redeeming virtual coins, tokens or any other form of virtual currency. The act would also cover payment service...
Continue reading…
S.E.C. freezes more than $27 million in trading proceeds in restricted shares of Longfin after cryptocurrency company acquisition
The Securities and Exchange Commission has obtained a court order freezing more than $27 million in trading proceeds from allegedly illegal distributions and sales of restricted shares of Longfin Corp. stock involving the company, its CEO, and three other affiliated individuals. According to the SEC's complaint, Longfin's founding CEO and controlling shareholder, Venkata Meenavalli,...
Continue reading…
Cryptocurrency investments spike S.E.C. concerns — investigators closing in
Bitcoins are gaining popularity across the globe, but they are also attracting the attention of the U.S. Securities and Exchange Commission. The SEC has handed down subpoenas to cryptocurrency projects like TechCrunch. According to Bitcoinist, the $100 million cryptofund is now under investigation. The investigation hints at the overall trepidation of governments around...
Continue reading…
Bitcoin exchange operator charged with fraud and obstruction of justice by S.E.C.
Bitcoins exchange operator Jon E. Montroll has been charged by The Securities and Exchange Commission with fraud for running the operation as an "unregistered securities exchange." The operator of the cryptocurrency investment platform was charged with lying to U.S. regulators to hide the fact that hackers stole more than 6,000 of his customers' Bitcoins.In...
Continue reading…
S.E.C. suspends trading by three companies claiming involvement in cryptocurrency and blockchain technology
The Securities and Exchange Commission suspended trading in three companies because of statements they made about the acquisition of cryptocurrency and blockchain technology-related assets. The SEC's trading suspension orders state that recent press releases issued by Cherubim Interests Inc. (CHIT), PDX Partners Inc. (PDXP), and Victura Construction Group Inc. (VICT) claimed that CHIT, PDXP,...
Continue reading…
SEC charges founder of Bitcoin platform with fraud in Bitcoin and office space Investments
The Securities and Exchange Commission today filed fraud charges against the clandestine founder of a purported Bitcoin platform and a chain of co-working spaces located in former bars and restaurants, alleging that he bilked investors in both companies while hiding his connection given his checkered past with regulators in the U.K.
The SEC alleges...
Continue reading…
Operator of bitcoin exchange sanctioned by Securities and Exchange Commission
The operator of a stock exchange that allowed clients to use bitcoins to trade in certain securities was ordered by U.S. regulators to pay $68,000 to resolve claims that he did not register the exchanges. Ethan Burnside and his company, BTC Trading Corp, operated two online...
Continue reading…
U.S. Judge awards $40.7 million and Securities and Exchange Commission Bitcoin Ponzi scheme case
Bitcoin Savings and Trust and its owner has been ordered to pay $40.7 million in a Securities and Exchange Commission case which established that the company sold investments using the virtual currency using a Ponzi scheme. U.S. Magistrate Judge Amos Mazzant of Texas said that Trendon Shavers knowingly and intentionally operated his...
Continue reading…
Bitcoin tax evader haven spawning in Jersey an island near France
The island of Jersey off the coast of France is being developed as the first location financed by Bitcoin currency. Although the island has a British Crown dependency, it is not part of the UK or the EU and it is self governing.
Bitcoin, a kind of virtual currency, is now accepted as a form...
Continue reading…
