Belarus wants to ban P2P cryptocurrency transactions
The Ministry of Foreign Affairs of the Republic of Belarus cited a high crypto crime rate for banning all citizens from exchanging Bitcoin with each other.
Čítaj viacpodľa Cointelegraph By Helen Partz | júl 3, 2023 | 0 |
The Ministry of Foreign Affairs of the Republic of Belarus cited a high crypto crime rate for banning all citizens from exchanging Bitcoin with each other.
Čítaj viacpodľa Cointelegraph By Prashant Jha | jún 28, 2023 | 0 |
The collaboration intends to bring changes to public administration and the business sector.
Čítaj viacpodľa Cointelegraph By Turner Wright | jún 27, 2023 | 0 |
The launch announcement followed expansion moves by Bitfinex into El Salvador and Chile through licensing and partnerships, respectively.
Čítaj viacpodľa Cointelegraph By Derek Andersen | jún 1, 2023 | 0 |
Deposits on mobile payment apps may not be insured by the FDIC, and customers may not know whether their money is insured or not.
Čítaj viacpodľa Cointelegraph By Turner Wright | máj 8, 2023 | 0 |
Amid the suspended service, Ray Youssef said he had made his “final act” as CEO after helping unfreeze 88% of certain users’ accounts.
Čítaj viacpodľa Cointelegraph By Turner Wright | apr 17, 2023 | 0 |
“I gave up my title as CEO to unfreeze these accounts and am also in danger of being in contempt of court,” said Ray Youssef.
Čítaj viacpodľa Cointelegraph By Prashant Jha | apr 17, 2023 | 0 |
Two major P2P platforms announced their closure in the first quarter of 2023. Many blame it on growing regulatory scrutiny, but experts call for better alternatives.
Čítaj viacpodľa Cointelegraph By Amaka Nwaokocha | apr 5, 2023 | 0 |
Paxful’s shutdown has left its global community heartbroken, but it has significantly impacted the Nigerian community, where it pioneered P2P crypto use.
Čítaj viacpodľa Cointelegraph By Amaka Nwaokocha | mar 29, 2023 | 0 |
Crypto P2P users in Nigeria worry over using various platforms to launder funds as the country’s central bank cracks down on bank accounts that receive a share of Flutterwave’s rumored stolen funds.
Čítaj viacpodľa Lubos Kovar | mar 18, 2023 | 0 |
Tento príspevok bol pôvodne publikovaný na stránke...
Čítaj viacpodľa Cointelegraph By Turner Wright | sep 5, 2022 | 0 |
Mark Alexander Hopkins, also known by the moniker ‘Doctor Bitcoin’ or their handle Rizzn, has claimed that “transacting Bitcoin p2p is a federal crime” after announcing the sentence in their case to social media followers.In a Sunday Twitter thread, Hopkins said that they were facing between 6 to 15 months at a federal correctional institution in Texas following a guilty plea for allegedly operating a crypto business without the necessary licensing. According to Rizzn, the U.S. Financial Crimes Enforcement Network, or FinCEN, used a 2019 interpretation of a law — 18 U.S.C. 1960 — originally enacted in 1992 to charge them with illegally operating a “money transmitting business.” “This means that any time anyone with a crypto trades p2p (i.e., not with an exchange), they’re legally liable under this statute as it’s currently interpreted,” said Rizzn. “In practice, this is a catch-all law. I was originally suspected of being a kingpin in this particular scam, and when it was clear I was not, they were able to easily build a case that I had not registered federally before selling my bitcoins.”So hey, I’m going offline for an indeterminate amount of time. I’m headed down to Beaumont FCI, where Uncle Sam will be footing the bill for my room and board for the next 6 to 15 months for the crime of selling #Bitcoin a few years ago. pic.twitter.com/2VwI2KEZ4N— FreeRizzn.eth (,) (@rizzn) September 4, 2022The Bitcoiner, who said they joined the space in 2011, claimed that they were “one of hundreds of thousands of OTC traders” in 2019 amid a bad actor involved in an illegal lottery scheme using the trading group to launder funds with Bitcoin (BTC) purchases. Rizzn claimed facilitating fiat-to-crypto exchanges on behalf of the party — who they hinted did not know was being investigated for a crime — resulted in being targeted by U.S. authorities:“I cooperated fully with the 15 armed FBI agents who raided my home in Oct of 2019. I wasn’t able to find a crypto-fluent attorney after I was raided in 2020 […] I was told that if I plead to the 18 USC 1960 charge, any actions against my family would be dropped.”According to Rizzn, they were “fully registered as a Bitcoin seller with FinCEN” but the Justice Department still targeted them based on their involvement in the illicit transactions. Acting U.S. Attorney Prerak Shah said at the time that Hopkins “ignored federal law and allowed fraudsters to use Bitcoin to operate under the radar of law enforcement” and did not take steps to verify the source of the funds involved in the transactions — between $550,000 and $1.5 million at the time. Rizzn has disputed many of the Justice Department’s claims, saying that they performed the proper Know Your Customer and Anti-Money Laundering practices.“Here’s the thing that makes this important to pay attention to and resolve: I’m a nobody,” said Rizzn. “I’m not Ross. I wasn’t on the dark web. I’m not Edward. I didn’t work for the NSA. I’m not Julian. I didn’t break national secrets. I’m just a regular Bitcoiner caught in the crosshairs.”Prior to entering prison, the Bitcoiner called for regulatory clarity between the state and federal levels in the U.S. seemingly in an effort to ensure other crypto users do not face the same enforcement action. “In much the same way that the feds and states differ on cannabis usage, the Feds and the states are at odds about p2p crypto usage,” said Rizzn. “Delaware, Texas and Wyoming are actively promoting p2p crypto usage in such a way that they’re manufacturing hundreds of thousands of felons (like me!) every day. There needs to be a) clarity on how to be as compliant as possible and b) ideally a rollback of the overreaching guidance in the first place.”Related: Central Bank of Russia tightens P2P transactions monitoring, including those in cryptoFinCEN leveled similar charges against a California resident in April 2019, alleging they wilfully violated money transmission laws while working as a P2P exchanger of crypto and fiat. However, the accused in that case faced only a $35,000 fine and being barred from similar financial activities — not prison time.
Čítaj viacpodľa Cointelegraph By Arijit Sarkar | júl 25, 2022 | 0 |
Staying true to the “bear market is for building” motto, crypto exchange Bitfinex along with Tether (USDT) and Hypercore announced the launch of a fully encrypted platform, Holepunch, for building peer-to-peer applications. As part of the initiative, the trio launched Keet, an encrypted application capable of facilitating real-time audio and video calls, text chat and file sharing.Partners aim to bestow control over data while breaking technology monopolies with Holepunch, according to the announcement. Tether and Bitfinex funded the development of the Holepunch platform. Paolo Ardoino, the chief technology officer of Tether and Bitfinex, will lead the new initiative as the chief strategy officer.Speaking on behalf of Tether and Bitfinex, Ardoino highlighted the need to address the growing privacy concerns, stating:“It [Tether and Bitfinex] believes that freedom of choice, communication and finances are the lifeblood of the future, and anything that will enhance those freedoms is worth amplifying.”Holepunch currently operates as a closed source protocol in its alpha or pre-release phase, which will be moved to open source code by the end of 2022. In doing so, Holepunch will not use blockchain technology at its core and will instead move to an in-house payments API powered by the Lightning Network. Developers building solutions on the Holepunch protocol will be able to use USDT as default for micropayments. However, the company is yet to disclose support for other cryptocurrencies and stablecoins. Related: Web3 platforms launch the Open Metaverse AllianceBlockchain-based metaverse and Web3 platforms joined hands to form Open Metaverse Alliance for Web3 (OMA3), an alliance built on four core principles — transparency, inclusiveness, decentralization and democratization.As Cointelegraph reported, the alliance will focus its efforts on specific metaverse-related topics, which include setting standards for nonfungible tokens (NFTs), protocols, transferable identity, portals between virtual worlds, mapping and indexing.
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