Beset with allegations that it is flouting regulations by allowing US bitcoin traders to access its platform, cryptocurrency exchange giant Bitfinex promised that it's trying super hard to stop that from happening. Bitfinex Admits US Resident Traded on Its Bitcoin Exchange In an official announcement published on Friday, Bitfinex confirmed a report from The Block that a New York resident had...
By CCN: The New York Supreme Court has ruled that the scope of the Attorney General’s investigation into Bitfinex and Tether Limited is too broad and needs a time limit. Bitfinex: Supreme Court Ruling a "Victory" The embattled exchange called the ruling a “victory” and insinuates that the case will end up going nowhere. Bitfinex has already admitted that as much as $850 million evaporated from...
By CCN: Sore-loser Democrats have been trying to delegitimize President Donald Trump ever since his upset electoral victory in 2016. The latest salvo from the Democrats comes in the form of New York Attorney General-elect Letitia James. She announced broad-ranging investigations into not only President Donald Trump but also Trump’s family and “anyone in his orbit”. Letitia James Is Already a...
By CCN: Crypto-oriented phone scams are alive and well across the country. One sneaky tactic involves posing as law enforcement, a crime in and of itself, and then blackmailing victims into paying Bitcoin to avoid legal troubles. Following a case of precisely that in Berkeley, California, New York City police are actively pursuing a broader strategy to combat such scams, and it involves...
By CCN: Within a day of learning it had to cease operating in New York, Bitfinex issued a rebuttal desperately trying to explain it is financially solid. Its letter coincided with one from Tether. On Thursday, New York Attorney General Letitia James obtained a court order to shut down the pair from operating in the state over the loss of $850 million funds through some questionable happenings...
By CCN: Callaway Crain and Mark Sanchez recently pleaded guilty to money laundering in New York. Investigators allege the pair earned close to $3 million selling steroids and controlled substances, mostly in bitcoin. They were first arrested almost exactly a year ago. $2.8 Million Over Six Years for Homemade Steroids Crain and Sanchez operated on the clear and dark webs and left New York in 2015...
By CCN: Intercontinental Exchange’s high-profile Bitcoin project, Bakkt, has faced severe pushback from the CFTC due to a fundamental concern about how its cryptocurrency assets will be stored. In response, Bakkt is looking to obtain a BitLicense and manage custody of the coins themselves. Unfortunately for ICE and associates, BitLicenses can take years to receive. New York's BitLicense: A...