Tag: Cryptocurrency Exchange

Report: CEO of Largest Romanian Crypto Exchange Arrested on US Warrant

Report: CEO of Largest Romanian Crypto Exchange Arrested on US Warrant

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
The CEO of Romania's largest crypto exchange Coinflux was reportedly arrested on a warrant from the United States for fraud, organized crime, and money laundering, local news outlet Mediafax reported Dec. 13. Coinflux has subsequently stopped all digital currency exchanges.Founded in 2015 in the Romanian city of Cluj, Coinflux is an online digital currency trading platform, with reportedly more than 200 million euro worth of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) in transactions.Vlad Nistor, the CEO and founder of Coinflux, was supposedly arrested on the territory of Romania upon the request of U.S. prosecutors. Nistor is accused of alleged fraudulent activity, organized crime and money laundering. The issue of extradition of Nistor to the U.S. will reportedly be h...
Major US Crypto Exchange Coinbase Adds Cash Withdrawals to PayPal

Major US Crypto Exchange Coinbase Adds Cash Withdrawals to PayPal

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
Major American cryptocurrency exchange Coinbase has introduced free of charge cash withdrawals to online payment system PayPal, according to an announcement published Dec. 14.From now on, Coinbase’s United States-based customers are able to withdraw their cash balances to Paypal. The service for other countries will reportedly be rolled out some time in 2019.Coinbase and PayPal previously integrated in 2016, when Coinbase added support for the payment platform in addition to major credit cards. At the time, Coinbase users were able to sell Bitcoin (BTC) and have their fiat funds deposited to a PayPal wallet. The integration was subsequently terminated due to technical difficulties.With this move, Coinbase has enhanced its range of services, which has been actively expanding over the past s
Top Crypto Exchange Binance Adds Circle’s USDC to Its Combined Stablecoin Market

Top Crypto Exchange Binance Adds Circle’s USDC to Its Combined Stablecoin Market

COINTELEGRAPH, CRYPTOCURRENCY
Crypto exchange Binance has added Circle’s USD-pegged stablecoin USD Coin as a quote asset for several new trading pairs in its combined Stablecoin Market (USDⓈ). The exchange has announced this in an official post published Dec. 14.USD Coin (USDC), first announced by Goldman Sachs-backed Circle this May, and released in September, is one of a host of new stablecoins notionally pegged 1:1 to a major fiat currency.This November, Binance, currently the world’s largest crypto exchange by daily trade volume, had rebranded its Tether (USDT) Market as the combined USDⓈ market to allow for the support of more trading pairs with different stablecoins offered as a base pair.Today’s latest development will add six new trading pairs with USDC as a quote asset: native exchange token Binance Coin (BNB/
Crypto-Friendly Banking App Revolut Obtains EU Banking License

Crypto-Friendly Banking App Revolut Obtains EU Banking License

COINTELEGRAPH, CRYPTOCURRENCY
Crypto-friendly fintech startup Revolut has obtained a banking license in Lithuania, technology news outlet TechCrunch reported Dec. 12.As the report states, the startup obtained a license through the Bank of Lithuania and “is leveraging passporting rules to operate in other European countries.” The mentioned “passport rules” are laws permitting the operation of banks that are part of the European free market on the territory of other member states.In the coming months, Revolut’s users in the United Kingdom, France, Germany, and Poland are expected to get a “true current account and a non-prepaid debit card.” Additionally, users’ deposits will also be covered up to €100,000 (about $113,500) under the European Deposit Insurance Scheme.About a year ago, the startup also started to support cr
Canadian Court Rules to Return Mistakenly Sent Ethereum to Rightful Owner

Canadian Court Rules to Return Mistakenly Sent Ethereum to Rightful Owner

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
A Canadian court has decided that a sum of mistakenly transferred cryptocurrency should be returned to its rightful owner, according to a report from the University of Oxford Faculty of Law published Dec. 12.A superior trial court of British Columbia found that Ethereum (ETH) tokens, which were mistakenly sent by the plaintiff, blockchain startup Copytrack, to the defendant, Brian Wall, must be returned to Copytrack.According to the report, the defendant mistakenly received 530 Ethereum coins from Copytrack instead of 530 Copytrack (CPY) tokens that he was supposed to get after participating in Copytrack’s Initial Coin Offering (ICO).At the time of the incorrect transaction to his private crypto wallet, the amount of acquired Ethereum amounted to 495,000 Canadian dollars ($370,482), while

Germany’s Second Largest Stock Exchange, SolarisBank Partner to Launch Crypto Exchange

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY
SolarisBank and Stuttgart Exchange Group are jointly developing infrastructure for a cryptocurrency exchange, Cointelegraph Germany reports Dec. 12.The Stuttgart Exchange, founded in 1860, is the second largest stock exchange in Germany and the ninth largest in Europe. SolarisBank, on the other hand, is a German fintech company established in 2015 that holds a banking license and offers a “Banking as a Platform” service.This news goes along with the plans announced by the exchange in May to release a zero-fee cryptocurrency trading application.The two companies’ crypto exchange, “which is scheduled to launch in the first half of 2019,” will have SolarisBank acting as the exchange’s banking platform.Roland Folz, the CEO of SolarisBank, declared that “a reliable and efficient trading platfor

Crypto Exchange Coincheck’s Owner Monex to Launch Crypto Trading in US starting Q1 2019

COINTELEGRAPH, CRYPTOCURRENCY
Online broker Monex Group, known for buying hacked Japanese crypto exchange Coincheck in April, has announced it will launch cryptocurrency trading in the United States, Cointelegraph Japan reports Wednesday, Dec. 12.Monex held a conference in Tokyo, where John Bartleman — president of Monex’s U.S. subsidiary TradeStation Group, Inc. — took part. He announced that crypto trading will be available for U.S. customers starting Q1 2019.Moreover, Bartleman revealed that TradeStation is interested in crypto investments in general. The company has already joined the series B funding round of new U.S. crypto exchange ErisX, whose crypto services will soon launch pending the country’s financial regulators’ approval.Speaking exclusively to Cointelegraph Japan, Bartleman claimed the platform is going

Denmark Targets 2,700 Bitcoin Traders for Tax Payments After Tip-Off From Finland

COINTELEGRAPH, CRYPTOCURRENCY
Denmark’s tax agency (Skattestyrelsen) has confirmed it is “identifying” 2,700 individuals it says owe taxes on Bitcoin (BTC) gains, according to a Dec. 12 press release.According to Skattestyrelsen, the Danish citizens bought and sold Bitcoin via an unnamed Finnish cryptocurrency exchange between 2015 and 2017, but did not declare any profits or losses on tax documents.Now, the agency will go after each individual with an eye to determining their payment obligations.“Right now we are identifying the individual citizens and keeping the new information up to those we already have,” tax director Karin Bergen commented, continuing:“If something does not match, we will contact them and ask for more information. However, how many people it is and what it may mean, it is still too early to say.”
Reports: Crypto Exchange Kraken to Plan Private Offering After ‘$4 Billion’ Valuation

Reports: Crypto Exchange Kraken to Plan Private Offering After ‘$4 Billion’ Valuation

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY
United States cryptocurrency exchange Kraken is considering a private offering to high net worth investors, Finance Magnates reported Dec. 12, quoting emails sent by the company.Kraken, which is currently the subject of a lawsuit over its support of the competing forks of altcoin Bitcoin Cash (BCH), has reportedly valued its shares at $4 billion.According to Finance Magnates, executives are now offering select major clients to whom the email was sent a chance to acquire further equity, subject to a minimum investment of $100,000.“The transaction process will be done by a 3rd party service, who will run accredited investor checks, facilitate the execution of transaction documents, and the funding of your investment,” the email reportedly states.Those involved have until Dec. 16 to signal th
Crypto Platform Cubits Begins Insolvency Procedure After Alleged Hack, Locks Users’ Funds

Crypto Platform Cubits Begins Insolvency Procedure After Alleged Hack, Locks Users’ Funds

COINTELEGRAPH, CRYPTOCURRENCY
United Kingdom-based cryptocurrency payment platform Cubits has filed for administration following a sudden outage that locked customer funds, a company press release revealed Dec. 11.The act of filing for administration means that an insolvent company has appointed an external administrator in order to act of behalf of its creditors.Cubits, the trading name of legal entity Dooga Ltd., claimed it had lost funds worth €29 million ($32.8 million) to “fraudsters” in February 2018 that it was unable to reclaim.Now, Dooga has brought in administrators “to work with those who are owed money by the Company and to collect monies that are owed.”“Our goal is to achieve the best outcome for creditors generally at the earliest possible date,” one of the two newly appointed administrators Steve Parker