SEC Charges Australian ‘Man Behind the Machine’ in $41M Crypto Fraud Scheme

SEC Charges Australian ‘Man Behind the Machine’ in $41M Crypto Fraud Scheme

The U.S. Securities and Exchange Commission (SEC) has charged an Australian citizen who called himself the “Man behind the Machine” in a fraudulent crypto scheme that raised almost $41 million. He and his companies made “materially false and misleading statements in connection with an unregistered offer and sale of digital asset SEC-Charges-Australian-‘Man-Behind-the-Machine-in-41M-Crypto-Fraud-Schemeurities.” ‘Man Behind the Machine’ Charged by SEC The SEC announced Thursday charges against Australian citizen Craig Sproule and two companies he founded for “defrauding Investors.” The two companies are Crowd Machine Inc. and Metavine Inc. The SEC alleged…

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Cryptocurrency Worth $435 Million Seized by 12 UK Police Forces in Five Years

Cryptocurrency Worth $435 Million Seized by 12 UK Police Forces in Five Years

U.K. Cryptocurrency-Worth-435-Million-Seized-by-12-UK-Police-Forces-in-Five-Years have revealed how much cryptocurrency they have seized in the past five years in response to Freedom of Information requests. The London Metropolitan Police seized more bitcoins than other Cryptocurrency-Worth-435-Million-Seized-by-12-UK-Police-Forces-in-Five-Years boroughs. UK Police Reveal Information About Seized Crypto Twelve of the U.K.’s 43 Cryptocurrency-Worth-435-Million-Seized-by-12-UK-Police-Forces-in-Five-Years forces have seized cryptocurrency worth approximately £322 million ($435 million) in criminal investigations in the last five years, New Scientist reported Thursday, citing Freedom of Information (FOI) requests it submitted. Bitcoin made up 99.9% of the cryptocurrencies seized in the U.K. However, Law enforcement…

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Devere Group CEO Predicts 3 Countries Will Adopt Bitcoin as Legal Tender This Year

Devere Group CEO Predicts 3 Countries Will Adopt Bitcoin as Legal Tender This Year

The CEO of financial advisory and asset management firm Devere Group has predicted that three countries will adopt bitcoin as legal tender this year. He is more bullish than El Salvador’s president who predicted that two countries will make bitcoin their national currency. 3 Countries Will Adopt Bitcoin as Legal Tender in 2022, Devere’s CEO Predicts The CEO of Devere Group, an independent financial advisory and asset management firm, predicted earlier this week that three more countries will adopt bitcoin as legal tender in 2022. His prediction is more bullish…

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El Salvador Drafts 20 Bills for Legal Structure of Bitcoin Bonds — Funds to Be Used to Build Bitcoin City, Buy BTC

El Salvador Drafts 20 Bills for Legal Structure of Bitcoin Bonds — Funds to Be Used to Build Bitcoin City, Buy BTC

El Salvador is preparing to introduce 20 bills to provide a legal framework for its upcoming bitcoin bonds. The funds raised will be used to build infrastructure for Bitcoin City and buy more bitcoin, the Salvadoran government explained. El Salvador Drafting Legal Framework for Bitcoin Bonds El Salvador’s finance minister, Alejandro Zelaya, said in an interview on local television Tuesday that his government will send about 20 bills to Congress concerning the country’s bitcoin bonds. The bills will cover financial markets and investment in securities to provide a legal foundation…

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India’s Monetary Policy Committee Member: Total Crypto Ban Is Difficult to Implement, Crypto Assets Should Be Regulated

India’s Monetary Policy Committee Member: Total Crypto Ban Is Difficult to Implement, Crypto Assets Should Be Regulated

A renowned economist who is a member of India’s Monetary Policy Committee says that a total cryptocurrency ban is difficult to implement and “would only increase illegal activities and participation in the darknet.” She believes that crypto assets should be regulated. Monetary Policy Committee Member Says a Complete Crypto Ban Is Difficult to Implement Ashima Goyal, a member of India’s Monetary Policy Committee, talked about cryptocurrency in an interview with PTI on Sunday. The Monetary Policy Committee (MPC) determines the policy interest rate required to achieve the inflation target. Goyal…

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Retail Giant H&M Debunks Rumor of Store Opening in Metaverse, Collaboration With Ceek

Major fashion company H&M has denied the rumor that it is opening a store in the metaverse. According to false reports, customers could walk through the store and purchase products in the Ceek metaverse. H&M Denies Metaverse Rumor and Collaboration With Ceek Several major publications reported Monday that retail clothing giant H&M has opened a 3D store in the metaverse, including the Economic Times and Mashable India. H&M (Hennes & Mauritz) is a major fashion and design company with 53 online markets and stores in 75 markets worldwide. One of…

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Bored Ape, Mutant Ape Yacht Club NFT Sales Skyrocket — Floor Prices Spike More Than 40%

Bored Ape, Mutant Ape Yacht Club NFT Sales Skyrocket — Floor Prices Spike More Than 40%

After Eminem revealed that he purchased a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) for $452K, both BAYC and Mutant Ape Yacht Club (MAYC) NFT sales have skyrocketed. Metrics indicate that on Sunday, January 2, 2022, MAYC’s seven-day trade volume of $93.02 million is up 93.41% and BAYC’s weekly volume of $78.26 million is up 150.97%. BAYC and MAYC Weekly Volumes Jump 93% to 150% Higher Bored Ape Yacht Club and Mutant Ape Yacht Club, are two particular NFT projects that have seen significant trade volume during the last…

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Sberbank Launches First Blockchain ETF in Russia

Russian banking giant Sberbank has presented the country’s first exchange-traded fund (ETF) giving investors access to the blockchain space. The new instrument holds securities of companies dealing with cryptocurrencies and the technologies that underpin them. Sberbank Introduces ETF Tracking Blockchain Economy Index The largest banking and financial services provider in Russia and the post-Soviet space, Sberbank, has announced the launch of a blockchain ETF. The new product, called ‘Sber – Blockchain Economy,’ aims to provide Russian investors with an opportunity to profit from the crypto sector without the need to…

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Malaysia Seizes 1,720 Bitcoin Mining Machines in Electricity Theft Crackdown

Police in Malaysia have shut down a bitcoin mining operation and seized 1,720 bitcoin mining machines in a major electricity theft crackdown following public complaints. “Police inspected 75 premises around the district and 30 of them were found to be carrying out illegal bitcoin mining activities and stealing electricity.” Malaysian Authorities Shut Down Bitcoin Mining Operation Malaysian police have cracked down on a major electricity theft case involving bitcoin mining, local media reported. Perak police chief Datuk Mior Faridalathrash Wahid said at a press conference Thursday at the Manjung district…

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Indian Regulator SEBI Wants Mutual Funds to Stay Away From Crypto Investments Until Legislation Is Finalized

The Securities and Exchange Board of India (SEBI) has reportedly asked mutual fund companies not to get involved or invest in any type of crypto asset-based investments until the Indian government has come up with cryptocurrency legislation. SEBI Asks Mutual Fund Companies to Wait for Crypto Legislation The chairman of the Securities and Exchange Board of India (SEBI), Ajay Tyagi, reportedly said Tuesday that the market regulator does not want mutual fund companies to get involved or invest in any type of crypto asset-based new fund offers (NFOs) until the…

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