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US Charges Dutch National With Running Crypto-Funded Child Porn Site

U.S. prosecutors indicated a Dutch national Thursday for allegedly spearheading a rape and child pornography website that’s made over $1.6 million worth of bitcoin selling videos since 2012.Known as “Michael R.M.,” and “Mr. Dark,” the man allegedly ran a site called “DarkScandals” that operated on the darknet, which requires special software to access, and on the public clearnet. He allegedly sold over 2,000 videos and had ties to 303 virtual currency accounts, according...

UK Financial Regulator: Watch Out for Coronavirus Crypto Scams

The United Kingdom’s Financial Conduct Authority (FCA) is asking investors to watch out for coronavirus-related crypto scams.In a March 11 warning to the public, FCA, the U.K’s top financial regulator, said scammers may attempt to take advantage of the fast-spiraling global pandemic, which has infected some 460 U.K. residents and killed eight.“Watch out for scams related to coronavirus (COVID-19),” the FCA wrote. “These scams take many forms and could be about insurance policies,...

Crypto Scams Pose More Risk Than Payments Fraud, Report Suggests

Cryptocurrency scams in 2019 had more risk for U.S. residents than fraud involving romance or payments.That's the conclusion of a recent report by the Better Business Bureau (BBB), a nonprofit organization focused on marketplace trust. The report found an average dollar loss in crypto-focused fraud of $3,000 for victims aged between 25 and 44. The relatively high figure was the result of nefarious actors taking advantage of those who lacked foundational knowledge of...

New Celo Alliance Has Same Aims as Libra – And Some of the Same Partners

The Silicon Valley crypto startup cLabs, focused on mobile payments and the Celo blockchain project, is following another precedent from Facebook’s Libra playbook by launching an industry association through a separate Celo Foundation.Dozens of blockchain companies and investors – including Libra Association members Coinbase, Andreessen Horowitz, Bison Trails and Anchorage – are committing to promote Celo tokens in some fashion by joining this “Alliance for Prosperity.”“The Alliance will use blockchain technology to reimagine...

YouTube Temporarily Bans Two Popular Crypto Channels Claiming Policy Breach

YouTube has deleted videos and temporarily banned the accounts of two more cryptocurrency enthusiasts citing a breach in company policy.Earlier this week, cryptocurrency educator "Ivan on Tech" and crypto news reporter "The Moon" took to Twitter to express their anger over being censored for what they believed were overreactions by the video sharing platform.YouTube had delivered a strike notice to both accounts, which essentially restricts the ability for content creators to upload videos,...

Bithumb Taps Chainalysis for FATF-Grade Crypto Investigation Tool

Cryptocurrency exchange Bithumb is clamping down on suspicious transactions less than a week after South Korea, its home country, moved to enact tough new laws for the virtual asset space.Bithumb announced Tuesday it had deployed Chainalysis’ “Reactor” investigations tool to get ahead of illicit activity. Reactor, used in many cryptocurrency law enforcement actions, will help the exchange’s compliance officers police their network, according to a press release.The announcement follows the South Korean National...

This Is What a Productive Congressional Blockchain Hearing Looks Like

For once, U.S. lawmakers had an informative conversation about blockchain technology without posturing. It was a sharp contrast from past Capitol Hill proceedings, when lawmakers took their entire allotted time to compare Libra to terrorist attacks or ask pointed questions about how Silicon Valley is biased toward one partisan slant or another. Rather, the small-business hearing saw only detailed questions about the legal or practical implications of blockchain and distributed ledger technology.The specific question...

Circle Rolls Out Stablecoin Business Accounts, Preps SeedInvest for Sale

Circle’s full-tilt pivot into stablecoins is nearly complete. The payments startup intends to sell SeedInvest, the crowdfunding platform it bought a year ago, and focus its remaining assets on developing stablecoin products, said Jeremy Allaire, one of Circle’s co-founders and its remaining CEO (fellow co-founder and one-time co-CEO Sean Neville stepped down last year).As part of this process, on Tuesday the company will roll out new APIs and Circle Business Accounts, which corporate clients...

Crypto Lender Babel Hits $380M in Outstanding Loans

Chinese cryptocurrency lending startup Babel Finance said it has reached a record of $380 million in outstanding loans as of February.Flex Yang, co-founder of Babel Finance, said on Thursday the firm's outstanding loans have grown from $52 million-worth of USDT as of Q1 2019 to $289 million as of the end of last year, reflecting the increasing market demand in the crypto lending business amid bitcoin's price surge since April last year. The...

CoinDesk’s Policy on Coronavirus and Blockchain Week NYC

As we all look ahead to Consensus 2020 and Blockchain Week NYC, we wanted to share the following updates with you regarding the recent spread of the COVID-19 virus. As of today, CoinDesk is moving forward as planned with Consensus 2020 and Blockchain Week NYC, but we will be monitoring the situation on a daily basis between now and May 8. We have over 60 speakers confirmed in our great lineup, including Kevin Werbach from...
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