Spain

Spanish Police Arrest Head of Billion-Dollar Crypto Arbitrage Platform on Fraud Allegations

Spanish National Police have arrested the operator of cryptocurrency arbitrage firm Arbistar 2.0 in a crackdown on the platform that researchers and investors allege to be a massive bitcoin Ponzi scheme. The arrest should serve as a reminder to crypto investors of the value bitcoin’s traceable blockchain provides to investigators. While scammers can easily dupe …

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European Bitcoin Exchange Hacked for $1.4 Million, Claims It Cannot Afford to Repay Users

2gether, a Spanish cryptocurrency trading platform, has been hacked for about $1.4 million and company executives claim that they do not have the money to repay customers. Chief executive officer Ramon Ferraz Estrada said over the course of several tweets on Monday that the breach of July 31 affected crypto investment accounts and exposed user …

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Spain’s Crypto Firms to Face New Registration Requirements Under EU-Driven Bill

Lawmakers in Spain are working on amending the nation’s anti-money laundering and terrorist financing laws to be in compliance with European Union law, six months after the EU’s deadline.   A proposed amendment  published over a week ago will require virtual currency service providers to register with the Bank of Spain. If enacted, the law will …

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Europol Busts $17M Illegal Media Streaming Business Dealing in Cryptos

In a recent investigation, European police busted a major illegal online streaming business that had reportedly been running for the past five years. Bloomberg reported that the police conducted 15 house searches, arresting 11 people and successfully taking down 50 servers across nine countries. The European law enforcement agency Europol claimed to have found cryptocurrencies, …

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US Regulators Target Bitcoin ATMs: 88% of the Funds Exit the Country via Machines

Bitcoin automated teller machines (BATMs) will become the next target for regulators, as world governments tighten screws on money laundering. According to Ciphertrace CTO John Jeffries, crypto-cash machines will attract “greater…regulatory focus” in a bid to rein-in alleged cross-border illicit financial transfers. Jeffries urged “the need for more uniform regulatory enforcement and compliance” as governments …

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