Bitsonic CEO Sentenced to Seven Years in Prison for Customer Deposit Theft

by Александр Пирогов | Feb 7, 2024 | Blog News

The CEO of crypto exchange Bitsonic has been sentenced to seven years in prison, with the firm’s technology chief receiving a one-year jail term for embezzling 10 billion South Korean won ($7.5 million) worth of customer deposits. Jinwook Shin, arrested in...

Spanish Ministry of Finance Targets Crypto Assets for Tax Debt Settlement

by Александр Пирогов | Feb 7, 2024 | Blog News

The Spanish Ministry of Finance is moving to expand its oversight over crypto activities within the nation, empowering the Spanish Tax Agency to seize digital assets to settle tax debts. This initiative, led by María Jesús Montero, involves amending Article 162 of the...

US-UK Financial Regulatory Working Group Emphasizes Effective Regulation of Crypto Assets

by Александр Пирогов | Feb 7, 2024 | Blog News

The U.S. and U.K. Financial Regulatory Working Group (FRWG) convened in London for its ninth official meeting on January 31, underscoring the importance of robust regulation and oversight of cryptocurrency assets and markets. In a statement issued on February 5, the...

Federal Judge Orders Ripple to Provide Financial Documents to SEC

by Александр Пирогов | Feb 7, 2024 | Blog News

A federal judge has approved a motion allowing the United States Securities and Exchange Commission (SEC) to request specific financial documents from Ripple. Magistrate Judge Sarah Netburn, in a ruling on February 5, granted the SEC’s motion, requiring Ripple...

AI-Powered Service Facilitates Fraudulent KYC Bypass

by Александр Пирогов | Feb 6, 2024 | Blog News

A new service called OnlyFake is reportedly leveraging AI “neural networks” to create fake driver’s licenses and passports, successfully passing Know Your Customer (KYC) verifications on multiple crypto exchanges. Priced at $15 each, the service...

Jupiter Exchange Surpasses Uniswap V3 in DeFi Market

by Александр Пирогов | Feb 6, 2024 | Blog News

The achievement of Jupiter Exchange represents a significant milestone in the DeFi sector, signaling the growing influence of Solana-based platforms. Jupiter’s success is attributed to its innovative technology, user-friendly interface, and the low transaction...