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Tag Archives: Reuters

U.S. calls ‘OneCoin’ huge pyramid scheme, charges leaders

By Jonathan Stempel NEW YORK (Reuters) – U.S. authorities on Friday announced criminal charges against the alleged leaders of an multibillion-dollar pyramid scheme involving the sale of a fraudulent cryptocurrency, OneCoin. Konstantin Ignatov, who runs OneCoin Ltd, and his older sister Ruja Ignatova, who co-founded OneCoin and is known as …

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Australia watchdog suspends two cryptocurrency exchanges for drug offences

SYDNEY (Reuters) – Australia's anti-money laundering watchdog said on Friday it had suspended license of two cryptocurrency exchanges after a police investigation found the businesses were being exploited for drug trafficking. It was the first such suspension by the Australian Transaction Reports and Analysis Centre, or AUSTRAC, since new legislation …

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UK watchdog warns against ‘get rich quick’ cryptoasset purchases

By Huw Jones LONDON (Reuters) – Consumers think they can “get rich quick” by putting cash into unregulated cryptoassets like Bitcoin and Ether they may not fully understand, Britain's markets watchdog said on Thursday. The Financial Conduct Authority published reasearch on consumer attitudes to cryptoassets, and people it interviewed talked …

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No.2 cryptocurrency Ethereum faces software ‘fork’; lower supply seen

By Tom Wilson LONDON (Reuters) – Ethereum, the world's second biggest cryptocurrency, was set on Thursday for major software upgrades that traders and analysts predicted would significantly reduce its supply. Ethereum is upgrading its network to cut the costs and complexity of interactions and communications on its blockchain. It will …

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Malta leads on cryptoassets regulation while EU ponders

By Francesco Guarascio BRUSSELS (Reuters) – As the European Commission ponders whether the European Union needs rules for cryptoassets and trading in virtual currencies, EU states are moving ahead with their own regulations, with the smallest of them, Malta, leading the pack. The risks of investing in the industry were …

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Julius Baer gets into crypto banking with SEBA partnership

By Brenna Hughes Neghaiwi ZURICH (Reuters) – Julius Baer plans to offer access to digital assets through a partnership with Swiss start-up SEBA Crypto in the latest move into cryptocurrencies by a Swiss private bank. The partnership, which follows a similar move by smaller rival Falcon Private Bank, will enable …

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Germany consults industry about blockchain potential

BERLIN (Reuters) – Germany has opened a consultation process on how to tap into the potential of blockchain technology ahead of presenting a strategy by the summer, government sources said on Monday. Berlin is a hub for startup companies of which around 170 in one way or another look at …

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Cryptocurrency traders protest Indonesia’s new futures rules

By Tabita Diela JAKARTA (Reuters) – Indonesian cryptocurrency traders are complaining that the government's new rules on futures trading, which require high minimum capital for traders, will hinder development of the young but growing market. Use of cryptocurrencies as payment instrument is banned by Indonesia's central bank, but trade in …

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Credit Suisse tests blockchain for processing fund trades

LONDON (Reuters) – Credit Suisse's asset management arm has successfully tested blockchain to process investment fund trades, the latest financial institution to show an interest in technology that could speed up transactions and keep them secure. Credit Suisse (SIX:CSGN) Asset Management used a blockchain-based platform to process an unspecified number …

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Swiss exchange SIX to launch blockchain bourse in second half

ZURICH (Reuters) – Swiss exchange SIX plans to launch its new SDX trading platform using blockchain technology to speed up trading in the second half of this year, Chairman Romeo Lacher said on Wednesday. The new SIX Digital Exchange (SDX) will initially run parallel to the existing SIX platform, which …

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Judge pauses lawsuits against cryptocurrency company Quadriga

By Tyler Choi TORONTO (Reuters) – A cryptocurrency platform that lost access to millions of dollars when its founder died with sole knowledge of company passwords has been granted a temporary reprieve from creditor lawsuits. Halifax judge Michael Wood on Tuesday ordered a 30-day stay that precludes filing of claims …

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Millions in cryptocurrencies frozen after Canadian founder’s death

By Tyler Choi TORONTO (Reuters) – About C$180 million ($137.21 million) in cryptocurrencies have been frozen in the user accounts of Canadian digital platform Quadriga after the founder, the only person with the password to gain access, died suddenly in December. Gerald Cotten died aged 30 from complications with Crohn's disease …

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U.S. crypto exchange Kraken buys index provider Crypto Facilities

By Anna Irrera NEW YORK (Reuters) – U.S. virtual currency exchange Kraken said on Monday that it had acquired Crypto Facilities, a cryptocurrency index provider that calculates the reference price for CME Group Inc’s (O:CME) bitcoin futures. Kraken said the “nine-figure deal” was its largest acquisition to date. It gave …

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Cryptocurrency thefts, scams hit $1.7 billion in 2018: report

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Cryptocurrencies stolen from exchanges and scammed from investors surged more than 400 percent in 2018 to around $1.7 billion, according to a report from U.S.-based cyber security firm CipherTrace released on Tuesday. Of the $1.7 billion, the report, which looks at criminal activity …

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Cryptocurrency firm Robinhood wins New York trading license

By Aparajita Saxena (Reuters) – New York on Thursday gave approval to commission-free startup Robinhood to trade in seven cryptocurrencies, including bitcoin, ether, bitcoin cash and litecoin, on its online platform. The Menlo Park, Calif.-based company had announced its plans to launch commission-free cryptocurrency trading services almost a year ago, …

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Aetna, other health insurers team up with IBM on blockchain project

(Reuters) – A group of health insurers including CVS Health (NYSE:CVS) Corp's Aetna (NYSE:AET), have teamed up with IBM (NYSE:IBM) Corp to create a blockchain network aimed at cutting costs in the healthcare industry. The companies intend to use blockchain technology, which allows the sharing of databases across a network …

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