Report: Illegal Trades Account for Less Than 3% of Total Bitcoin Transactions
According to a new report, illegal transactions, scams and gambling together make up less than 3% of the volume on the Bitcoin blockchain while exchanges and trading desks account for around 80% of volume. Exchanges Dominate Bitcoin Volumes A new study called “Blockchain Analysis of the Bitcoin Market” has found that illegal transactions, scams, and gambling combined account for just 3% of all onchain bitcoin trade volume. On the other hand, the study asserts that exchange and trading desk-related volume — which is mostly speculative — constitutes about 80% of....
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Bitfinex has been fined by the U.S. Commodity Futures Trading Commision for offering illegal off-exchange financed retail commodity transactions in Bitcoin Bitfinex, one of the world’s largest Bitcoin and cryptocurrency exchanges, has been fined by the U.S. Commodity Futures Trading Commision (CFTC) for offering illegal off-exchange financed retail commodity transactions in Bitcoin and also failing to register as a Futures Commission Merchant (FCM). The company is required by the Order to pay a US$75,000 civil monetary penalty in total, for other alleged illegal operations such as....
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Mt. Gox has just issued a public statement denying any reported linkage to the Silk Road. The media report Gox refers to is presumably this piece on The Genesis Block. TGB reports that the Gox account seizures enacted by US regulators in 2013 were related to the Silk Road investigation. At the time, it was widely reported (perhaps as a smokescreen) that accounts were seized due to violation of money transmission regulations. Mt. Gox's press release reads as follows: TOKYO - JAPAN - January 14, 2014. Dear CustomersRecently published media accounts are inferring a link between MtGox and the....