Three individuals are currently out on bond in Zambia after being arrested over charges related to a cryptocurrency investment scheme they had operated. The three suspects are directors of cryptocurrency investment firm Heritage Coin Resources Limited. They allegedly collected more than 28 million Zambian kwacha (approximately US$2.4 million) from prospective investors who were promised that […]
Archive for the ‘Cryptocurrency’ Category
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Mining Cryptocurrencies Is More Energy Intensive Than Actual Mining, Researchers Say
November 7th, 2018 
Vera The digital mining of cryptocurrencies required more energy per US dollar generated than the mining of physical metals between January 2016 and June 2018, according to a new study published in the British journal Nature Sustainability. The study also estimated that, during the 2.5-year period, the four cryptocurrency networks (bitcoin, Ethereum, Litecoin, and Monero) generated between […]
Crypto Bulls launches first UAE-registered crypto exchange
November 7th, 2018 Vera Crypto firm Crypto Bulls has teamed up with Al Zarooni Group and Gulf Coin Gold to launch the Crypto Bulls exchange, an exchange which will focus on the Dubai market. The new crypto exchange has the backing of the government in UAE, which harbors ambitions of transforming Dubai into a haven for blockchain and cryptocurrency businesses—following […]
Blockchain Announces $125 Million ‘Airdrop’ of Stellar Cryptocurrency
November 7th, 2018 Vera The crypto wallet provider Blockchain plans to distribute cryptocurrency to millions of its users in what appears to be the largest such giveaway of its kind. The giveaway—known in crypto parlance as an “airdrop”—will see recipients each get about $25 worth of the cryptocurrency commonly known as Stellar as part of an overall distribution worth $125 […]
Student Cryptocurrency Trader Turns Huge Profits in to a $400k Tax Bill
November 6th, 2018 Vera A Californian student, who turned a $5,000 investment in to a portfolio worth close to $1 million, claims to have begun his trading in May 2017, whereby he signed up at popular cryptocurrency broker Coinbase. By the end of December 2017, at a time when the cryptocurrency industry experienced a significant injection of capital that […]
Crypto Investors Sue US Rapper T.I. over FLiK Coin Project
November 5th, 2018 Vera A group of US investors have filed a lawsuit against rapper T.I. and his business partner Ryan Felton, accusing both men of conducting an alleged cryptocurrency Ponzi scheme with their FLiK coin. The 25 plaintiffs are seeking $5 million in reparation after pouring $1.2 million in the digital asset project that T.I. and Felton launched […]
Taiwan Amends AML/CFT Laws, Includes Regulatory Requirements for Cryptocurrency Operations
November 5th, 2018 Vera Taiwan’s legislature has amended the country’s anti-money laundering and terrorism financing prevention laws to include regulatory requirements for cryptocurrency transactions. The amendments grant the country’s top financial regulator, the Financial Supervisory Commission (FSC) the power to clamp down on anonymous cryptocurrency transactions. Beyond regulating digital currency transactions, FSC can also monitor crypto exchange operators. Based […]
Brazilian Tax Regulator Publishes Draft on Cryptocurrency Taxation
November 5th, 2018 Vera The Department of Federal Revenue of Brazil (RFB), which administers tax collection in the country, has announced that Brazil-based crypto exchanges are now obliged to send them detailed reports on all crypto-related operations on monthly basis. For instance, the companies have to reveal the amounts of transactions and the identity of the customers. Moreover, both legal entities […]
‘Halal Coins Only’: First Islamic Crypto Exchange to be Launched in 2019
November 1st, 2018 Vera The ADAB Solutions project, based in the United Arab Emirates, is planning to launch FICE — the First Islamic Crypto Exchange which will be operating according to the principles of Shariah law. The company is expecting to reach $146 million daily trading and $4.4 billion monthly turnover by 2020. According to ADAB Solutions, the difference between […]
Russia’s Financial Watchdog to Oversee the Cryptocurrency Industry
November 1st, 2018 Vera Russia’s Federal Financial Monitoring Service (Rosfinmonitoring, as the regulator is known in Russia) plans to register, license and monitor cryptocurrency exchanges, crowdfunding platforms and providers of wallet services for digital assets, Russian media outlets have reported. The financial watchdog will regulate the exchange of cryptocurrencies and fiat money, as well as transactions between digital assets. […]
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