Wells Fargo, one of the largest U.S. financial services companies, has agreed to pay $3 billion to resolve the U.S. government’s investigations into fraudulent sales practices spanning over 15 years. The Wells Fargo fraud case involved the company forging customer signatures, moving money from millions of customer accounts to unauthorized accounts, and misusing customers’ sensitive […]
The post Wells Fargo Fined $3 Billion for 15 Years of Illegal Practices Affecting Millions of Customers appeared first on Bitcoin News.
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As the Indian government deliberates on the country’s crypto policy, there has been some confusion in media reports regarding crypto regulation in India. A group of local crypto enthusiasts and community members have gathered in an effort to ensure that the crypto situation in India is accurately portrayed. Also read: Indian Lawmaker Says ‘Cryptocurrency Is […]
Crypto is not illegal in China, but it is illegal for banks and financial institutions to deal in crypto. It’s also illegal to send or receive over $50,000 in fiat money without government permission. Restrictive banking regulations, international trade wars, and a surveillance state in the midst of political unrest mean that transferring money can […]
A draft cryptocurrency bill for India has been leaked in full, but details of the bill have raised some questions. News.Bitcoin.com talked to a number of experts in the field who shared their analyses of the bill’s content and its implications on the Indian crypto industry. Also read: G20 Leaders Issue Declaration on Crypto Assets […]
The Indian government has reportedly confirmed that the report containing a regulatory framework for cryptocurrencies by an inter-ministerial committee is being finalized. This confirmation is in response to a Right to Information filing by a local news outlet. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Report in ‘Finalization Stage’ The […]
A man with the Surname of Yang has been accused of stealing 100 million Taiwanese dollars (nearly $3.25 million) worth of electricity to mine cryptocurrencies. Yang is suspected of stealing power from 17 different stores in Northern Taiwan to fuel his mining operations. Also Read: The Daily: UFC 232 to Have Official Crypto Partner, 5% of […]
One week after Indian cryptocurrency exchange Unocoin announced the launch of its ATM, local police have reportedly seized the machine and arrested two founders of the company, including the CEO. Police say the machine was set up without approval. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Several Items Seized Indian police have seized […]
In recent regulatory news, Chinese authorities have issued a warning seeking to encourage citizens to be skeptical regarding the promotional claims of illegal fundraising schemes operating with cryptocurrencies, Singapore Exchange and the Monetary Authority of Singapore have partnered with Anquan, Deloitte, and Nasdaq to settle tokenized securities using distributed ledger technology, and Hungary’s finance ministry […]
Following the statement by Saudi Arabia declaring cryptocurrency illegal, the largest crypto exchange in the Middle East and North Africa is working with regulators across the region to develop crypto regulations. Bitoasis confirmed its platform is unaffected by the Saudi Arabian crypto stance. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Bitoasis Working With […]
In recent mining news, AMD has reported declining sales of mining hardware during the second quarter of 2018, Hut 8 has claimed to now comprise the largest bitcoin mining company in Canada by operating power following the construction of its second facility, and Chinese authorities have shut down what they have described as “illegal” mining […]