Crypto Hedge Funds Defraud $100 Million From Investors, Founder Faces 20 Years in Prison

Crypto Hedge Funds Defraud $100 Million From Investors, Founder Faces 20 Years in PrisonThe founder of two cryptocurrency hedge funds has been charged in U.S. federal court for securities fraud. He has pleaded guilty and is facing up to 20 years in prison. His two funds cumulatively had over $100 million in investments. The U.S. Department of Justice (DOJ) announced Thursday that Stefan He Qin, a 24-year-old Australian […]

Crypto Exchange Owner Sentenced to 10 Years in Prison for Multimillion-Dollar Scheme to Defraud Americans

Crypto Exchange Owner Sentenced to 10 Years in Prison for Multimillion-Dollar Scheme to Defraud AmericansThe U.S. has sentenced a cryptocurrency exchange owner to 10 years in prison. He “knowingly and intentionally engaged in business practices designed to both assist fraudsters in laundering the proceeds of their fraud and to shield himself from criminal liability,” the Department of Justice alleges. Crypto Exchange Owner Sentenced to 10 Years in Prison The […]

Russia Proposes New Rules and Penalties for Cryptocurrency Owners

Russia Proposes New Rules and Penalties for Cryptocurrency OwnersThe Russian Ministry of Finance has developed new amendments to the country’s cryptocurrency regulation. The proposal outlines a new set of rules for crypto owners, exchanges, and miners, as well as penalties for undeclared crypto transactions. Russia’s New Crypto Regulation Russia’s Ministry of Finance has proposed new amendments to the country’s law on digital financial […]

The post Russia Proposes New Rules and Penalties for Cryptocurrency Owners appeared first on Bitcoin News.

Alexander Vinnik Accused of Laundering Billions Through BTC-e Extradited to France

Russian Alexander Vinnik Accused of Laundering Billions Through BTC-e Extradited to FranceAlexander Vinnik, the Russian-born IT specialist who spent over two years in detention in Greece, where he was arrested on a U.S. warrant, is now in Paris. The alleged BTC-e operator, suspected of laundering at least $4 billion through the now defunct crypto exchange, has been handed over to France after the Greek judiciary turned […]

The post Alexander Vinnik Accused of Laundering Billions Through BTC-e Extradited to France appeared first on Bitcoin News.

Former Mt Gox CEO Reflects on Incarceration in Japan While Facing More Prison Time

Former Mt Gox CEO Reflects on Incarceration in Japan, While Facing More Prison TimeThe infamous Mark Karpeles, former CEO of the now defunct bitcoin exchange Mt Gox, appeared in an exposé interview on Monday and publicly discussed how he tolerated Japanese jail. Karpeles explained how he’s been accused of financial misconduct in a land that has a 99 percent conviction rate and he wouldn’t wish his experience on anyone. […]

The post Former Mt Gox CEO Reflects on Incarceration in Japan While Facing More Prison Time appeared first on Bitcoin News.

Executives of Korean Exchange Sentenced to Jail for Faking Volumes

Executives of Korean Exchange Sentenced to Jail for Faking VolumesTwo executives of a South Korean cryptocurrency exchange have reportedly been sentenced to jail for inflating trading volumes on their exchange. The pair allegedly used a bot to fake large orders in both cryptocurrencies and Korean won. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Prison Sentences Two executives of South […]

The post Executives of Korean Exchange Sentenced to Jail for Faking Volumes appeared first on Bitcoin News.

Former Mt. Gox CEO Could Face 10 Years in Jail Over Embezzlement

Former Mt. Gox CEO Faces 10 Years in Jail Over Embezzlement in JapanJapanese prosecutors are seeking a 10-year jail term for Mark Karpeles, the former CEO of Mt. Gox. The embattled Frenchman, who has been previously accused of diverting company money for prostitutes, business acquisitions and luxury items, is facing charges of transferring $3 million of client funds to his own account for investment in a software […]

The post Former Mt. Gox CEO Could Face 10 Years in Jail Over Embezzlement appeared first on Bitcoin News.

The Daily: US Defense Department Probes Blockchain, Singapore Approves 1X

The Daily: US Defense Department Probes Blockchain, Singapore Approves 1XIn today’s edition of The Daily, we cover cryptocurrency-related news from different parts of the world. Documents have revealed that an arm of the U.S. Department of Defense (DoD) plans to investigate the technology behind Bitcoin, while a teenager in Israel has been convicted of making bomb threats in exchange for BTC. In India, a […]

The post The Daily: US Defense Department Probes Blockchain, Singapore Approves 1X appeared first on Bitcoin News.