Multiple US States Have Revoked Binance US Crypto Licenses

June 18, 2024 Bitcoin.com

Binance

Multiple U.S. states have revoked or declined to renew Binance US money transmitter licenses due to compliance issues and legal troubles involving former CEO Changpeng Zhao (CZ). “North Dakota joins Alaska, Florida, Maine, North Carolina, and Oregon who have taken similar actions to revoke or deny the renewal of BAM Trading Services’ Money Transmission License,” […]

Zimbabwe Devalues Gold-Backed Currency by 44%

Indian Authority Cracks Down on Highrich Online’s Crypto Operations

June 16, 2024 Bitcoin.com

bitcoin.com

India’s Enforcement Directorate (ED) has conducted searches that uncovered a Ponzi scheme involving cryptocurrency operations and HR Crypto Coin, leading to significant asset seizures and freezing. The coins were part of the scheme, luring people to invest with promises of a 15% annual interest rate and offering 30% direct referral income for introducing new customers. […]

Zimbabwe Devalues Gold-Backed Currency by 44%

Nigeria Drops Tax Evasion Charges Against Binance Executives

June 14, 2024 Bitcoin.com

Biden Administration

Nigerian authorities dropped tax evasion charges against two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, after the cryptocurrency exchange appointed a local representative to represent it in ongoing court cases. Following the decision, Binance stated that it awaits the court’s complete discharge of the executives from the cases. Binance Appoints Local Representative On June 14, […]

Zimbabwe Devalues Gold-Backed Currency by 44%

Landmark Ruling: Crypto Dealings Not Illegal in India, Says High Court

June 14, 2024 Bitcoin.com

Bitcoin

The Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law. This decision arose from a case involving individuals accused of fraud through a Ponzi scheme. Justice Sasikanta Mishra clarified that cryptocurrency is not considered money under the Prize Chits and Money Circulation Schemes (Banning) Act or a deposit under […]

Zimbabwe Devalues Gold-Backed Currency by 44%

DOJ and FBI Unveil Charges Against 3 UK Nationals in NFT Rug Pull Scam

June 10, 2024 Bitcoin.com

Bitcoin

The U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) have unveiled charges against three UK nationals for a fraudulent non-fungible token (NFT) scheme involving “Evolved Apes,” promising a game development. “They allegedly took investor funds, never developed the game, and pocketed the proceeds.” US Charges 3 UK Nationals in NFT Rug […]

Zimbabwe Devalues Gold-Backed Currency by 44%

Indian Authority Busts Cryptocurrency Fraud Ring Targeting Foreign National

June 9, 2024 Bitcoin.com

bitcoin.com

India’s Enforcement Directorate (ED) has cracked down on a cryptocurrency fraud ring targeting a foreign national. The accused persuaded the victim to transfer $400,000 to a cryptocurrency account set up using unauthorized remote access. The ED seized digital evidence, froze fixed deposits, and confiscated jewelry connected to the case. The investigation is still ongoing. ED […]

Zimbabwe Devalues Gold-Backed Currency by 44%

New York Cracks Down on Crypto Pyramid Schemes Targeting Immigrants

June 7, 2024 Bitcoin.com

Bitcoin

New York Attorney General Letitia James has sued Novatechfx, AWS Mining, and their founders for orchestrating crypto pyramid schemes that defrauded over 11,000 New Yorkers out of more than a billion dollars in cryptocurrency. These companies targeted vulnerable immigrant communities, particularly Haitians, with false promises of high returns. NYAG Letitia James Takes Action Against Crypto […]

Zimbabwe Devalues Gold-Backed Currency by 44%

Australian Court Exempts Block Earner from Paying Penalty; Criticizes Regulator’s Misleading Press Release

June 5, 2024 Bitcoin.com

bitcoin.com

A Federal court in Australia has relieved the crypto firm Block Earner from paying a penalty for breaching the financial services law when it offered the Earner product. According to the ruling, Block Earner “acted honestly and not carelessly,” hence it should not be made to pay a pecuniary penalty. The Federal Court judge criticized […]

Zimbabwe Devalues Gold-Backed Currency by 44%

US Media Executive Charged in $67 Million Fiat-to-Crypto Money Laundering Scheme

June 4, 2024 Bitcoin.com

US Media Executive Charged in Million Fiat-to-Crypto Money Laundering Scheme

Bank Fraud

The U.S. DOJ has charged the CFO of a media company with one count of money laundering and two counts of bank fraud for participating in a scheme that laundered criminal proceeds using cryptocurrency. Authorities allege that Weidong Guan and his accomplices used bank accounts opened with stolen personal identification information to transfer the funds […]

Zimbabwe Devalues Gold-Backed Currency by 44%

Block Earner spared penalty in regulator’s crypto yield suit

June 4, 2024 Coin Telegraph

ASIC

The Australian federal court relieved Block Earner from paying a penalty in the local financial regulator’s legal action over unlicensed crypto yield-bearing products.

Australia’s federal court has relieved fintech firm Block Earner from paying a fine despite the court finding it offered a crypto yield-bearing product without a financial services license.

Justice Ian Jackman ruled on June 4 that Block Earner “acted honestly,” and at the time its yield-bearing “Earner” product launched, it did consider getting licensed, but its research and legal advice concluded it didn’t need one.

Block Earner founder and CEO Charlie Karaboga told Cointelegraph that getting a legal opinion before it launched the product “showed that we acted honestly and did everything that we could do as a startup.”

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