Arizona lawmakers push bill to curb Bitcoin ATM fraud
A new Arizona bill aims to protect residents from Bitcoin ATM scams following a series of incidents, including one where a woman lost $17,000 to fraudsters. House Bill 2387, introduced by state representative David Marshall, proposes strict regulations on cryptocurrency ATM operations. The legislation comes after Tamara, a Social Security recipient from Peoria, fell victim […]
Thodex founder’s sentence overturned, but fraud conviction stands
The Istanbul Regional Court of Justice has overturned part of the conviction against Faruk Fatih Özer, the founder of the now-defunct cryptocurrency exchange Thodex. The court dismissed charges related to starting an organization to commit a crime but upheld his fraud and money laundering convictions, according to local reporting. Özer, who was sentenced to over […]
Malaysia’s anti-corruption agency leverages blockchain and AI to fight fraud
Malaysia will leverage Blockchain and Artificial Intelligence to tackle corruption and fraud in the digital age. Speaking at the 3rd International Conference on Technology, Humanities, and Management held in Maldives, Tan Sri Azam, chief commissioner of the Malaysian Anti-Corruption Commission, highlighted that technological advancements have introduced new challenges in combating crime, local media reported on […]
CZ’s YZi labs backs Sign as France probes Binance for fraud
He ran the biggest crypto empire, stepped down, served time, and now he’s all about AI and biotech. But as CZ looks ahead, regulators in France are looking back. From Binance to YZi Labs Changpeng Zhao, more commonly known as “CZ,” once the most influential figure in crypto, is back — but this time, in […]
Binance investigated in France for tax fraud, other charges
Crypto giant Binance is under investigation in France for the second time, following an initial probe in 2023. French prosecutors have formally opened a judicial investigation into alleged crimes, including drug trafficking, money laundering, and tax evasion at Binance. The probe may also involve additional undisclosed charges, according to a Reuters report published on Tuesday, […]
IRS secures first crypto tax fraud conviction, setting legal precedent
For the first time, the IRS has successfully prosecuted a case of tax fraud solely involving crypto. The U.S. Internal Revenue Service has won a major victory, setting a legal precedent in the fight against crypto-related tax fraud. In December 2024, Frank Richard Ahlgren III was sentenced to two years in prison and fined $1.1 […]
How Bitcoin investors can avoid tax fraud
Bitcoin investors must navigate a complex tax landscape, including understanding taxable vs. non-taxable transactions, key regulations by jurisdiction and ways to stay compliant. Source link
North Dakota bill seeks to cap crypto ATM transactions to tackle fraud
North Dakota’s lawmakers have introduced a bill aimed to combat crypto ATM transactions after 103 state residents reported $6.5 million in losses to crypto scams in 2023. Source link
SEC charges Nova Labs over crypto securities fraud and false partnership claims
The Securities and Exchange Commission has filed charges against Nova Labs for allegedly conducting unregistered securities offerings and making false statements about business partnerships to mislead investors. According to the SEC’s complaint, Nova Labs has been selling unregistered investment contracts since April 2019 through two main products: “Hotspots” — electronic devices that mine three different […]
Lancashire police recover £28m in Bitcoin fraud involving Australian crypto exchange
Police have seized £28 million (US$34 million) in assets from an international Bitcoin fraud gang that exploited a glitch in an Australian cryptocurrency trading website. As per the report by the Lancashire Telegraph, the investigation centered around James Parker from Blackpool, who identified the vulnerability in 2017. Over three months, Parker and his associates stole […]
