Tag Archives: Cryptocurrency

Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon

By | September 22, 2022

Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial Authorities Reach Consensus on How to Regulate Mining of Digital… Read More »

Argentinian Province Mendoza Starts Accepting Tax Payments in Crypto

By | August 29, 2022

Mendoza, an Argentinian province, has implemented a system that allows taxpayers to pay their taxes fully with cryptocurrencies. The system, which was launched this week, is part of a strategic push for the modernization and digitalization of payments carried by the tax authority of Mendoza and uses the services of a third party to process… Read More »

Sanctions, Disagreements Hamper Regulation of Crypto Mining in Russia, Experts Say

By | August 25, 2022

The changing geopolitical and economic environment, as well as persisting differences between responsible government institutions, are hindering the advance of legislation tailored to regulate cryptocurrency mining in Russia. According to a report quoting industry watchers, these factors are halting the advance of the necessary legislation. Two Draft Laws on Mining Await Approval by the Russian… Read More »

Israel Arrests 3 in Crypto Scheme to Launder Millions Stolen From France

By | August 17, 2022

Police in Israel have detained three suspects who allegedly laundered millions of euros stolen from the French treasury through cryptocurrency transactions. The money came from government grants for businesses affected by the Covid-19 pandemic. Israeli Law Enforcement Busts Money-Laundering Ring Using Coins to Clean Money for French Fraudsters Three people have been arrested in Israel… Read More »

Belarus Issues International Arrest Warrant for Owner of Country’s ‘Largest Crypto Exchanger’

By | August 11, 2022

Law enforcement officials in Minsk are seeking international assistance to locate and detain the man who ran what is said to be the biggest online exchanger for cryptocurrencies in Belarus. The crypto trader has been accused of tax evasion and an investigation against three of his accomplices has estimated the losses for the state at… Read More »

Police in Kazakhstan Arrest Gang Forcing IT Specialists to Run Crypto Farms

By | August 7, 2022

Law enforcement in Kazakhstan detained members of a crime group suspected of forcing IT experts into operating underground facilities for cryptocurrency mining with threats and blackmail. The racketeers allegedly made up to half a million U.S. dollars a month from their business. Kazakhstan Busts Illegal Crypto Mining Organization, Detains Dozens Authorities in Kazakhstan have arrested… Read More »

Security Service of Ukraine Shuts Down Crypto Mining Farm Near Front Line in Kharkiv

By | July 20, 2022

Ukraine’s main law enforcement agency has busted an illegal facility mining cryptocurrencies in the Kharkiv region. The operators of the crypto farm have been minting coins using large amounts of stolen electricity, threatening energy supply to critical infrastructure, the agency said. Illegal Mining Farm Discovered in War-Torn Kharkiv Region Officers from the Security Service of… Read More »

Why Migrants Are Turning to Crypto: The Key to Attaining the UN Goal to Reduce Remittance Costs to Less Than 3% by 2030

By | July 14, 2022

The cost incurred by African migrants or expatriates when sending funds via the so-called formal corridors remains way above the UN target of less than three percent, the latest data from the World Bank has shown. On the other hand, the cost is much lower than the target when cryptocurrencies are used. Global Average Higher… Read More »

Kenya Has Highest Proportion of Crypto Owning Citizens in Africa UNCTAD Data Shows

By | July 10, 2022

The latest data from the United Nations Conference on Trade and Development (UNCTAD) suggest that Kenya has the highest proportion of crypto-owning inhabitants than any other African country. To counter the growing use of cryptocurrencies, UNCTAD said it recommends the imposition of taxes that discourages crypto trading. ‘A Way to Protect Household Savings’ According to… Read More »

Swiss Regulator Urges Financial Watchdogs to Protect Crypto Investors

By | June 24, 2022

Crypto trading is increasingly similar to the U.S. stock market of the late 1920s, the head of the Swiss financial watchdog has remarked. The high-ranking official believes that regulatory agencies around the world should do more to ensure investor protection. Swiss Financial Watchdog Executive Calls for More Regulations for ‘Abusive’ Crypto Market Governments are still… Read More »