By CCN Markets: The bitcoin price rocketed past $ 10,000 for the first time since 2018, and crypto fans are celebrating. But they’re not the only ones noticing the budding cryptocurrency bull market. The U.S. Department of Justice is ramping up criminal prosecutions of bitcoin tax evaders. In this effort, the DOJ is joining a mass crackdown by the IRS to launch enforcement actions against crypto tax crimes. Bitcoiners In Crosshairs of Both the DOJ and IRS In other words, bitcoin investors are now in the cross hairs of not one — but two — mammoth government agencies that each want
By CCN.com: Yesterday, CCN published an article detailing Tesla’s increasingly confounding financial maneuvers. Reader Frederick Macarthur commented: Tesla stock and Elon Musk have one thing in common – they’re both manic depressive. It’s true. Tesla Stock Has Been Volatile in Recent Years Last year, Claudia Assis at MarketWatch even reported: Volatility surrounding Tesla Inc. is
The post Tesla Layoffs Spur Market Blowback: Have Social Justice Warriors Started Day Trading? appeared first on CCN
International cooperation is essential for eradicating ICO fraud, said Steven Peikin, co-director of the Securities and Exchange Commission’s enforcement division. Peikin made the remarks during a December 3 speech at Harvard Law School’s Program on International Financial Systems, where he discussed the astonishing growth of the ICO market. “The sponsors of ICOs are, in many instances, located
The post International Cooperation ‘Critical’ to Bringing Illegal ICOs to Justice: SEC appeared first on CCN
The US Department of Justice (DOJ) has reportedly opened a probe into whether Tether, the eponymous issuer of the USD-pegged cryptocurrency stablecoin tether (USDT), has engaged in illegal market manipulation to prop up the bitcoin price. Justice Department Investigates Tether for Crypto Manipulation Citing three people familiar with the matter, Bloomberg reports that federal prosecutors
The post US Justice Department Probes Tether for Bitcoin Price Manipulation: Report appeared first on CCN
Money attracts thieves and masterminds of what could be the largest Bitcoin Ponzi scheme in history are facing justice. Vivek Bhardwaj, a software developer and brother of Gain Bitcoin founder and CEO Amit Bhardwaj, was brought to Delhi, India on Sept. 20 to face questioning and likely criminal prosecution. One estimate puts the stolen amount at $ 300 million USD that affected more than 2,000 victims, although the exact figure is unknown because Indian police have been unable to gather electronic records after the suspects destroyed at least three databases.
The U.S. Justice Department is looking into whether the price of bitcoin and other virtual currencies are being manipulated, according to a report in Bloomberg that referenced four unnamed sources for the information.
Still in its early phases, the criminal probe will bring in other agencies, like the Commodity Futures Trading Commission (CFTC), a regulator that oversees bitcoin derivatives, sources said.
On spot markets, like GDAX, Poloniex and Bitfinex, where cryptocurrencies change hands immediately, the price of bitcoin can vacillate wildly in a matter of hours. Starting in early 2017, the price of bitcoin ballooned from $ 1,000 to a record high of around $ 20,000 in mid-December. Currently, the price now sits in around $ 7,500.
Have you ever felt that someone is controlling the crypto markets, increasing prices to lure you in and crash it all as soon as you buy? Well, US authorities have apparently heard your whining because they are now reportedly suspicious manipulation is indeed occurring.
Spoofing and Wash Trading
The US Department of Justice (DOJ) has reportedly launched a criminal investigation to determine if big money traders are manipulating the prices of Bitcoin, Ether and possibly other cryptocurrencies. The illicit trade tactics that the DOJ is looking into include spoofing and wash trading, and federal prosecutors are working in collaboration with the Commodity Futures Trading Commission (CFTC) on the investigation, this according to “four people familiar with the matter” cited by Bloomberg.
Kleros, the blockchain dispute resolution layer protocol, has officially been accepted into the Thomson Reuters Incubator program. Kleros aims to enable both individuals and businesses to feel safe while conducting transactions online. This is accomplished by using smart contracts to reduce counterparty risk in a wide range of industries including e-commerce, insurance and finance. Should a dispute arise between the transactional parties, the Kleros platform enables the dispute to be resolved through a fast, secure and transparent system.
By joining the Thomson Reuters Incubator Lab, Kleros will be gaining access to a wealth of knowledge and resources to support the achievement of its grand vision: democratizing access to justice.
Six BitConnect investors, who collectively lost over $ 700k on the platform, are taking the company and its affiliates to court in the US.
Earlier this month, BitConnect released this piece of so-called ‘System News’ on its website, outlining the fact that closing the Bitconnect lending and exchange platform. In line with the halt, the company reported that it would be moving forward with some key changes made to its platform, primarily rooted in the idea that BitConnect would serve as a wallet service and, at the same time, would news and educational services through its platform.