Legal

Investigation Bureau Questions Former Staffers on Crypto Mining

Investigation Bureau Questions Former Staffers on Crypto Mining

The consortium of former staffers is being inspected by the attorney general of the U.S. state of Louisiana suspected to have used official resources for cryptocurrency mining. The employees who were questioned denied engaging in crypto mining. The investigation bureau has discovered a ‘hardware device’ that might have been put to use for bitcoin mining.

Man Caught In Amsterdam Laundering Bitcoin For Drug

Man Caught In Amsterdam Laundering Bitcoin For Drug

Up to five years in prison will be faced by a man living in Amsterdam for using the money for drugs by helping people exchanging fiat money. €11.5 million believed to be coming from his illegal drugs dealing and other prohibited trades on dark web.

Crypto Challenges During Divorce Discussed By Lawyers

Crypto Challenges During Divorce Discussed By Lawyers

More lawyers are taking the initiative to learn the nature of cryptocurrency in solving divorce cases related to cryptocurrency owning. Increasing challenges arise from crypto ownership agreed by several lawyers with the reality of it can be hidden from their partner.

Square refers GAAP’s silence on Cryptos

Square refers GAAP’s silence on Cryptos

Square Inc. in its annual filing with the U.S. Securities and Exchange Commission stated that the Generally Accepted Accounting Principles (GAAP) does not detail about cryptocurrencies. The company cited that the arduousness in accounting gains and losses from cryptocurrency transactions. Square mentioned that their accounts are subject to scrutiny and any alterations would impact the stock price.

Tax exemptions for Cryptos in Germany

Tax exemptions for Cryptos in Germany

The Ministry of Finance has announced that payments made by cryptocurrencies would not be taxed in Germany. Contrastingly, the Internal Revenue Service in the U.S. revealed cryptos are subject to capital gain tax. The German document published quotes digital currencies as ‘legal tender.’ The document also enlisted various other circumstances under which cryptos would be subject to tax.

Receiver reports on AriseBank

Receiver reports on AriseBank

Co-founders of AriseBank failed to comply with property disclosure requirements. The receiver appointed for the case, Mark Rasmussen, doubts that the co-founders have not wholly disclosed information since he has acknowledged 27.96 bitcoins, 271.33 litecoins, and such others. Third parties have been summoned. Presently, the assets are held by the receiver. A report on liquidation plan is expected in April.

Additional investors Signs Suit Against Coincheck

Additional investors Signs Suit Against Coincheck

Another 132 investors of Coincheck cryptocurrency exchange has signed the legal suit filed with the Tokyo District Court. The suit has been filed to receive a refund of 228 million yen that is worth $2.1 million. Previously, seven investors filed a suit to obtain $183,000 that was lost to NEM token hack. The exchange promised to reimburse through its existing capital.

Employees Mining Cryptocurrency Fired In Louisiana

Jeff Landry probe in IT Department

A criminal investigation was probed in the IT department in Louisiana by its own General of Attorney, Jeff Landry. The former employers in the department believed to use state resources to mine cryptocurrencies which against the rules of the department.

Crypto Developer Beaten and Robbed In Russia

Forklog reported yesterday the cryptocurrency developer, Yury Mayorov has been kidnapped, beaten and robbed by four unknown men. The number of robberies and kidnapping person involved in cryptocurrency increases across Russia and Ukraine.

FATF Soon To Revise Global Crypto Standards Agreed By 35 Countries

FATF Soon To Revise Global Crypto Standards Agreed By 35 Countries

Standards relating to cryptocurrencies will be revised soon, by Financial Action Task Force (FATF), that is also responsible for setting global money laundering policies (AML). The ordered was given by all thirty-five countries and the European Commission.