“Take the money and run, and blame someone else” – a digital currency exchange founder’s exit strategy

The brother A criminal complaint filed in the Southern District of New York by the FBI against Konstantin Ignatov, an executive who operated a digital currency exchange and launched an initial coin offering (“ICO“) called OneCoin, sheds some light on the sometimes murky world of digital currency exchange founders. The money The ICO and its […]

SEC obtains emergency order against Telegram’s ICO, which raised $1.7 billion from investors

Ex parte injunction The Securities and Exchange Commission (“SEC“) announced today that it filed an emergency application ex parte in US Federal District Court in Manhattan, and after a hearing, obtained a temporary order over the initial coin offering (“ICO“) launched by Telegram Group, Inc. (“Telegram“), the messaging application, which raised $1.7 billion from investors around […]

American ICO lawyer with ties to Canadian Blockchain entities, arrested by FBI for alleged extortion

The FBI arrested Steven Nerayoff, a US lawyer known for his work on advising ICOs, including the Canadian ICO Ethereum, yesterday and he was charged  with extortion by the DoJ in the Eastern District of New York. According to a complaint unsealed yesterday, Nerayoff is alleged to have threatened to destroy a company launching an […]

Several agencies take down Bitcoin mixing & anonymizing service

Working with Europol, several law enforcement agencies shut down a Bitcoin mixing and anonymizing service called Bestmixer, which was one of the largest mixing services for digital currencies. Mixing and anonymizing services or anonymizing exchanges process digital currencies on behalf of customers in order to make it difficult to trace the digital currencies. The purpose […]

FATF to finalize interpretation of virtual assets, digital currency exchanges and ICOs to require they be FIU-registered and supervised for AML compliance

In furtherance of the US approach to responsible innovation, the Financial Action Task Force (“FATF“)’s private sector consultation in Vienna two weeks ago, will help drive changes to FATF Recommendation 15 to bring digital currencies, ICOs, and digital currency exchanges more fully into the AML requirements in June 2019. The Vienna change will take effect […]

Canadian Member of Parliament Introduces Bill to Allow for Crypto Capital Gains Donations to Charities

Canadian Parliamentarian Dan Albas, has introduced Bill C-452 in Parliament today which would allow holders of cryptocurrency to make charitable donations in crypto to Canadian charities and get a tax credit for their donations. The short but powerful amendment to the Income Tax Act, amends §38(a.1) to include crypto as an approved category for the purposes […]

21-year-old SIM swapper who allegedly stole $81 million in crypto, ordered to pay it back

Bitcoin investor, Michael Terpin, won a US$75.8 million civil judgment on Friday in California against 21-year-old Nicholas Truglia who SIM-swapped Terpin’s cellular phone and stole over US$23 million from Terpin’s digital currency wallets that held coins from three ICOs. In all, Truglia is alleged to have stolen over US$81 million in crypto currencies via SIM […]

Australian federal police uncover Bitcoin-related alleged international drug traffickers boasting about their luxury cars and mansions on social media

Two Bitcoin-related alleged drug traffickers living large and spending above their reported incomes In the last few months, the Australian Federal Police have arrested two well-known Bitcoin guys suspected of leading secret lives as international drug traffickers. Both alleged to the public that they had real jobs, one operating a digital currency exchange and the other an IT business, […]

Iran confirms supporting an ICO and several Blockchain projects

On Tuesday, Iranian officials spoke to the Iranian media and confirmed that a government organization – Iran Telecommunication Research Center – has 4 Blockchain projects in progress that have looked at using Blockchain for policy making, threat management and business use cases for Iran. Further, they announced that a project at Sharif University, funded by […]

US identifies Canada as major money laundering country, and notes concern over its low prosecution rate

Canada once again a “Major Money Laundering” country The 2019 “International Narcotics Control Strategy Report” (INCSR) published on Friday by the U.S. Department of State identifies Canada once again as a “major money laundering country” along with a host of risky countries for financial crime. A “major money laundering country” is one whose banks and financial […]