33 money laundering crypto crims targeted worldwide in 3 separate cases

Law enforcement representing 16 different countries cooperated to arrest 20 members of a global crypto-powered money laundering cartel in just one of the cases. Law enforcement officials from around the world hav taken action against a major transnational money laundering operation involving cryptocurrency. On Oct. 15, Europol announced a successful operation across 16 countries that resulted in the arrest of 20 individuals suspected of working for the QQAAZZ criminal network. The organization is accused of laundering tens of millions of euros for top cybercriminals since 2016. The funds are allegedly…

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Tether volume hits $600B as it attempts to take on Bitcoin as crypto’s benchmark

Tether accounts for a huge percentage of transactions and is taking on Bitcoin and Ethereum in a variety of ways The latest data from analytics providers suggest that cumulative Tether transaction volume has just surpassed $600 billion as it begins to dominate crypto exchange trading. On-chain analytics provider Glassnode has revealed that Tether transaction volume increased by around 20% over the past 30 days to reach that new cumulative milestone. Cumulative $USDT Transaction Volume just went above 600,000,000,000 USDT. Current value: 600,000,880,895 USDT View metric:https://t.co/az0Gbp07tR pic.twitter.com/LMzh9hqFGG — glassnode alerts (@glassnodealerts)…

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Korean blockchain lobby calls for crypto tax plan to be put on ice

The Korea Blockchain Association wants the government to postpone the implementation of its new tax framework until 2023. The Korea Blockchain Association has called for the government’s new 20% crypto trading tax plan to be delayed for another two years. According to an Oct. 14 report from News1 Korea, the Korea Blockchain Association, or KBA, is requesting regulators postpone the South Korean government’s implementation of its long awaited new tax strategy until Jan. 1, 2023. The KBA doesn’t explicitly state it is against the 20% tax rate but said that…

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Agriculture giants team up on blockchain platform to track grains in Brazil

Two massive companies have teamed to create a blockchain platform to manage the agriculture sector and its first test was in Brazil The world’s largest grains and oilseeds companies, American giants Bunge and Cargill, have joined together to create the joint venture Covantis, which will use blockchain technology in the agricultural sector in Brazil. The unprecedented project foresees the exchange of information between all members of Covantis, which also includes the participation of other agribusiness giants such as the French Louis Dreyfus Company (LDC), the Chinese state-owned company Cofco International…

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Crypto Capital’s NFL defendant open to guilty plea, but not for $371M

A former NFL team owner has been asked to pay $371M as part of a plea deal over bank fraud, illegal money transfers, and wire fraud. He’s not interested. The legal team for Reginald Fowler said the former minority owner of the Minnesota Vikings is open to a guilty plea regarding his involvement in Crypto Capital’s alleged shadow banking practices, provided forfeiture is not part of the deal. The company is a key player in the ongoing court case over Bitfinex’s failure to disclose the loss of $850 million in…

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Bitcoin Mining Rigs Struggle for Profits, Despite BTC’s Hashrate Reaching an All-Time High

Bitcoin’s hashrate climbed to an all-time high (ATH) this week touching 166 exahash per second (EH/s) on October 14. Meanwhile, despite the recent price rise and hashrate ATH on Wednesday, only a small group of next-generation mining rigs are profiting at current bitcoin exchange rates. The price of bitcoin (BTC) is hovering just above the $11K region and during the last few days, the network’s hashrate has touched a new ATH. At the time of writing, BTC’s hashrate is fluctuating between 130 to 140 exahash per second (EH/s), and on…

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Banks should be ready with CBDCs if Libra is blocked: BoC exec

Timothy Lane says the central bank is developing a CBDC at “a good pace.” According to an Oct. 15 report from The Canadian Press, Timothy Lane, deputy governor of the Bank of Canada, or BoC, said central banks should have their own digital currency ready should regulators block Facebook’s Libra token. He also noted that such an asset is important as a possible solution for the economic realities of COVID-19. Lane spoke at an online panel discussion hosted by the Central Bank Payments Conference, stating that the Bank of Canada…

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Cointelegraph Consulting: Ethereum’s on-chain activity surges and bullish sentiment spikes

Is Ethereum’s recent bullish online sentiment good or bad? Short-term holders are now in the black, is a ‘sell zone’ approaching? The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicates that discussions around Ethereum have switched from highly bearish to predominantly bullish. Historically, this hasn’t meant good news for the token’s price. Ethereum’s on-chain activity, measured by unique daily addresses, has rebounded from its nose dive at the end of summer. The latest surge has taken Ethereum to a 3-week high of 420,610 addresses per day —…

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‘Shorts will be dead’ — Why Dan Tapiero expects a massive Bitcoin shortage

Dan Tapiero believes Bitcoin could face a supply shortage if institutional demand for BTC continues to increase. In recent months, there has been a considerable spike in institutional demand for Bitcoin (BTC) following several high profile investments. Over time, asset manager and 10T Holdings co-founder Dan Tapiero believes this could lead to a problematic shortage in BTC. Alongside investments from Square, MicroStrategy and Stone Ridge, Bitcoin inflows to Grayscale Bitcoin Trust have surged. Based on the rapid growth of institutional investments, Tapiero warns that short-sellers could see trouble in the…

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Bitstamp says its users are now covered against a broad web of crime

Crypto needs insurance too. Digital asset exchange Bitstamp has beefed up its insurance measures to combat the inherent uncertainties associated with the crypto space. “The policy covers an array of crime-related cases, such as employee theft, loss while the assets are stored at any premises, loss in transit, loss caused by computer fraud or funds transfer fraud, and loss related to legal fees and expenses,” an Oct. 15 statement from Bitstamp detailed with regard to the firm’s updated insurance measures.  Cryptocurrency offers added freedom when compared to traditional finance, allowing users to…

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