Private Digital Currency Founder Jailed for 20 Years
The founder of Liberty Reserve, a private digital currency system shuttered by the US government for its alleged use by organized crime, has been sentenced to 20 years in prison. Arthur Budovsky was arrested in the spring of 2013 and later extradited to the US for trial. He was ultimately charged with the operation an unlicensed money transmission business as well as conspiracy to both operate an unlicensed money services business and commit money laundering. Budovsky pled guilty to the money laundering conspiracy charge in January after spending years trying to fight the US government’s....
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Myanmar’s military-ruled government is proposing to enact laws that will see users of virtual private networks (VPN) and digital currencies being jailed for up to three years. In addition, offenders will be made to pay fines of up to $2,800.
Draft Bill Open for Comments
Myanmar’s military-ruled government is proposing to enact a law that outlaws the use of virtual private networks (VPN) and digital currencies in that country. Once enacted, violators of the new law not only face jail time but will be made to pay a fine.
According to a report published by....
Fourteen operators of the giant PlusToken scam have been sentenced in China to up to 11 years in prison.
An advertising agency from the United Arab Emirates (UAE) and a non-governmental organization have launched a campaign that seeks to raise funds for jailed Egyptian women via the sale of non-fungible tokens (NFTs). The funds raised are already being used to pay off their debts, allowing the imprisoned women to leave jail. Raised Funds to Set Prisoners Free The UAE-based advertising agency, Horizon FCB, has launched a non-fungible token (NFT) campaign that seeks to raise funds to free Egyptian women that were jailed for failing to pay off their debts. In this campaign, Horizon FCB has....
The digital currency exchange Okex disabled cryptocurrency withdrawals on Friday morning and explained that funds were “safe and not affected.” Following the withdrawal announcement, regional reports claim that Okex’s founder Mingxing “Star” Xu was taken away by the police. On Friday morning (ET) a local report from the publication Caixin detailed that the founder of Okex, Mingxing “Star” Xu, was taken away by the police. Hours before the Caixin published the report, Okex’s official Twitter account announced pausing withdrawals on the....
One of the newest players to the digital currency exchange sector, Atlas ATS, announced their brand-new "Nano Exchange," which offers firms a private market in the digital currency space that is secure and state-of-the-art. According to the announcement, these firms will be able to leverage Atlas's technology to provide their clients with a "comprehensive" exchange platform for both trading and storing digital currency. Nano Exchange is a customizable, turn-key solution for companies looking to operate a digital currency exchange for their own user base. Atlas ATS deploys and manages the....