Canada Confiscates $40 Million Worth Of Crypto From Unlicensed Exchange Trade...

South Korean authorities have identified thousands of tax evaders as part of an intensifying crackdown on tax dodging among crypto investors. Following a prolonged investigation, the government has reportedly seized cryptocurrency worth millions of dollars. Tax Agents Target Wealthy Tax Evaders in Greater Seoul Area More than 53 billion Korean won ($47 million) in crypto assets have been confiscated from 12,000 people who allegedly tried to hide money from the government. The funds were in bitcoin (BTC), ethereum (ETH) and other cryptocurrencies, Reuters reported quoting the government of....

A California resident is expected to plead guilty to charges of operating an unlicensed exchange and laundering more than $13 million. 49-year-old peer-to-peer crypto trader, Hugo Sergio Mejia, has agreed to plead guilty to charges of money laundering and operating an unlicensed money transmitting business.The U.S. Attorney’s Office accuses Mejia of using a suite of limited liability corporations to conceal the true nature of his operations while exchanging cash for Bitcoins over a period spanning more than two years.The complaint accuses Mejia of transferring funds between Bitcoin and....

Coinbase is reaching the top. Following a heavy expansion into European territory, the popular Bitcoin firm — which has managed to accumulate over $100 million in four public venture rounds — is now granting its services to users in Canada, the land of maple. The company explained on its blog: “As part of our effort to make bitcoin easy to use throughout the world, customers in Canada can now: • Buy and sell bitcoin with a Canadian bank account (via EFT direct debit). • Deposit CAD to a Coinbase wallet to buy bitcoin or trade on Coinbase Exchange (via EFT direct debit or Interac Online). •....

Authorities in Iran are continuing their crackdown on unauthorized cryptocurrency mining as electricity demand remains high. The country’s power utility company has so far closed down more than 5,300 illegal mining facilities, seizing an enormous amount of coin-minting machines. Power Utility Confiscates More Than 216,000 Mining Units From Unlicensed Miners in Iran Preventing blackouts remains a priority in Iran where electricity consumption is still higher than usual. Cryptocurrency miners, the majority of which are operating without authorization, have been blamed for electricity....

A South Korean province has seized cryptocurrencies worth over $5 million from 1,661 investors who were more than $12 million in arrears on their fines in total. The seizure followed an investigation of nearly 30,000 companies and individuals as well as their cryptocurrency holdings at four exchanges. Korean Province Confiscates Cryptocurrencies for Unpaid Fines The South Korean province of Gyeonggi, the most populous province in the country, announced last week that it had seized 6.1 billion won ($5.14 million) in cryptocurrencies from 1,661 people who were 14.4 billion won in....