TagBulgaria

Embattled CEO of $3.8B Crypto Ponzi Scheme OneCoin Pleads Not Guilty

pyramid scheme

By CCN: Konstantin Ignatov, the CEO of the multi-billion-dollar "crypto" Ponzi scheme OneCoin, has pleaded not guilty to wire fraud. According to court documents, Ignatov entered the plea during a May 28 preliminary hearing via conference call. As CCN reported, Ignatov — a Bulgarian national — and his sister Ruja Ignatova was charged with wire fraud, securities fraud, and money laundering related...

Bulgaria Investigates Crypto Exchanges For Taxes, Asks 10% on Profits

The government of Bulgaria has started to investigate crypto exchanges to demand taxes from the profits investors generated from trading digital assets. The National Revenue Agency (NRA) has categorized cryptocurrencies as financial assets, which incur a 10 percent tax on profit that individuals have to disclose annually. Two Major Issues of Bulgaria’s Crackdown on Crypto Tax Similar to Japan...

Bulgarian Authorities Seize $3M in Crypto From Cybercriminals

Silk Road

Authorities in Bulgari have busted a cybercriminal gang specialising in internet fraud, seizing over $3 million worth of cryptocurrency in the process. Local news platform 24chasa reports that three individuals were arrested and charged with obtaining more than 5 million lev ($3 million) through various illegal internet schemes. This is the latest breakthrough after a series of actions targeted...

Busted: Bulgarian Officials Caught Selling Passports for Bitcoin

Bulgaria passport

Authorities in Bulgaria have clamped down on the shady sale of international passports to foreigners from some parts of Eastern Europe in exchange for bitcoin. Erring citizens of Bulgaria, Ukraine, Moldova, and Macedonia have been allegedly involved in the perpetration of such illegal activities. Officials Arrested The citizenship issuance which was authorized by Bulgarian officials has landed...

Bulgaria Reveals International Operation Against ‘Large-Scale Pyramid’ OneCoin

The Specialized Prosecutor’s Office of Bulgaria has revealed its involvement in a sweeping international operation looking at ‘neutralizing’ OneCoin, a purported digital currency scheme widely seen as a fraud. In details published on Friday, Bulgarian authorities have pointed to an ongoing international investigation with assistance from German counterparts and representatives from Europol and...

Bitcoin Lender BitLendingClub to Shut Down, Blames Regulatory Pressure

Offline Bitcoin exchange

BitLendingClub has decided to close its service designed to help small businesses in emerging markets due to regulatory pressures, the company informed customers in a blog on its website. The blog noted the company worked hard to build a platform to provide the greatly needed service. The blog did not expand on what regulatory pressures it was facing. Limited Functionality To Begin The company...

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