Search Results for: operations

China’s Crypto Crackdown: Fundamentals Still Show Bull Market Continuation, Bobby Lee Says ‘Don’t Panic’

by

The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it had made in…

US Court Sentences Cryptocurrency Hedge Fund Founder to 7.5 Years in Prison

by

The founder of two cryptocurrency hedge funds in New York, Stefan Qin, has been sentenced to 7.5 years in prison and three years of supervised release. He is also ordered to forfeit about $55 million. The Department of Justice (DOJ) said…

Korean Government Says 28 Crypto Exchanges Have Met Regulatory Requirements to Continue Operations

by

The deadline for cryptocurrency exchanges to meet the requirements to continue operations under new crypto regulations in South Korea is rapidly approaching. A total of 28 cryptocurrency exchanges have reportedly been cleared by the regulators to remain open. However, only four…

China’s Hebei Province Begins Crackdown on Crypto Mining and Trading, Reports Reveal

by

Authorities in the Chinese province of Hebei have reportedly launched a campaign against cryptocurrency mining and trading. According to a quoted announcement by the region’s cyberspace administration, a number of government agencies are working together to prevent the use of the…

NY Attorney General Shuts Down Crypto Trading Platform Coinseed That Cheated Investors out of Millions

by

New York Attorney General Letitia James has secured a court order to shut down cryptocurrency exchange Coinseed. The order also “permanently appoints the court receiver to obtain, safeguard, and return all assets invested and traded through” the exchange. New York Attorney…

Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Committee Chair Says

by

Cryptocurrency mining should be registered as entrepreneurial activity and taxed as such, according to Anatoly Aksakov, chairman of Russia’s parliamentary Financial Market Committee. The lawmaker also thinks Russian digital currency regulations need refinement. Amendments Likely to Affect Mining, Taxation, Definition of…

Iran Shuts Down More Illegal Crypto Farms, Bringing Total to Over 5,300

by

Authorities in Iran are continuing their crackdown on unauthorized cryptocurrency mining as electricity demand remains high. The country’s power utility company has so far closed down more than 5,300 illegal mining facilities, seizing an enormous amount of coin-minting machines. Power Utility…