Minnesota Pushes Crypto ATM Ban In Crackdown On Digital Asset Fraud
Minnesota lawmakers are weighing a proposal that would prohibit Bitcoin (BTC) and other cryptocurrency kiosks across the state, as concerns mount over the role the machines play in financial scams. According to a CBS report, members of the Minnesota House Commerce Finance and Policy Committee took up the issue Thursday after DFL Rep. Erin Koegel, […]
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Warnings against the usage of Bitcoin are nothing new in the for Bitcoin enthusiasts, and the recent statement by the Minnesota Commerce Commissioner is not mentioning anything the world hasn’t heard before. The recent “manhunt” to identify Satoshi Nakamoto – the creator of Bitcoin and blockchain technology – showcased the popular digital currency’s mystery aspect. That doesn’t mean Bitcoin buyers should be worried about anything just yet, though. There is no denying Bitcoin is gaining popularity in recent months, which is catching the attention of government officials all over the world.....
Ethereum is the most recent asset caught in the path of the bulldozing machine that is China’s crackdown on crypto and crypto-related activities. When the country had begun to crackdown on mining earlier in the year, much focus had been placed on bitcoin given that it was the most popular cryptocurrency in the market. And […]
The U.K.’s. HM Revenue & Customs (HMRC) has made its first non-fungible token (NFT) seizure. British authorities also seized some crypto and arrested three people in a fraud case involving 250 allegedly fake companies. “Our first seizure of a non-fungible token serves as a warning to anyone who thinks they can use crypto assets to hide money from HMRC.”
NFTs and Crypto Assets Seized by UK Tax Authority
Britain’s HM Revenue & Customs (HMRC) said Monday that it has seized three non-fungible tokens (NFTs) and cryptocurrency worth about 5,000 pounds....
Scammers stole Apple’s thunder on September 9, 2024, regarding the iPhone 16 launch, by attempting to trick would-be buyers with deepfake videos of its CEO, Tim Cook. Related Reading: Crypto Crackdown: SEC Fines Hit $4.68 Billion In Aggressive Regulatory Push Indeed, this shows the spiraling threat of AI-driven fraud as cybercriminals start to make use […]
Minnesota's commerce commissioner has warned consumers in his state to be wary of bitcoin despite no reported bitcoin-related problems, according to Minneapolis The Star Tribune. The warning marks the third U. S. state regulator in a month to issue such a warning. Mike Rothman, the Minnesota commissioner, acknowledged that legitimate businesses are using bitcoin and developing legitimate uses for it to buy and sell goods. He also says there are no reports in Minnesota of consumers being scammed with bitcoin. He nonetheless warns there is a dark side to bitcoin and since it's not backed by....