OneCoin Scam Paid $300K to Neil Bush, George H.W. Bush’s Son and George W. Bush’s Brother

OneCoin Scam Paid $300K to Neil Bush, George H.W. Bush’s Son and George W. Bush’s Brother

The vanished head of the OneCoin crypto Ponzi scheme, Ruja Ignatova (also known as the CryptoQueen), has paid $300K to Neil Bush, the son of the late 41st U.S. President George Bush and the brother of the 43rd President George W. Bush, for attending meetings organized by Ignatova’s fraudulent cryptocurrency company. OneCoin is again in the news for all the wrong reasons. It is undergoing a legal investigation in the United States for allegedly laundering…

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China’s Military Newspaper Suggests Soldiers to be Rewarded in Cryptocurrency

China’s Military Newspaper Suggests Soldiers to be Rewarded in Cryptocurrency

Thanks to President Xi Jinping’s recent game-changing comments about blockchain, the official newspaper of the People’s Liberation Army (PLA), PLA Daily, appears to be poised to see military personnel paid and encouraged in cryptocurrencies as opposed to the Yuan. According to a pro-crypto write-up published by the PLA’s paper, the technology should not be exclusive to civilians. There are a ton of use cases that the technology can offer the military sector. The article opines:…

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CEO of South Korean Crypto Exchange CoinUp Imprisoned for 16 Years for Fraud

CEO of South Korean Crypto Exchange CoinUp Imprisoned for 16 Years for Fraud

“Everyday for the thief, one day for the owner,” they say. Well, that proved true in the case of this South Korean crypto exchange, CoinUp, which the police found to be a fraudulent scheme. According to local South Korean news reports, the crypto exchange was involved in an elaborate scam worth over $380 million. The firm allegedly deceived its investors into committing to a worthless digital coin, in the hope of getting a bigger return….

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BRICS Coalition Plans to Develop a Cryptocurrency for Settlements Between Members

BRICS Coalition Plans to Develop a Cryptocurrency for Settlements Between Members

BRICS, a collaborative group with five members of major emerging nations – Brazil, Russia, India, China and South Africa – has proposed developing a digital currency for payment transactions between these countries. The CEO of Russian Direct Investment Fund (RIDF), Kirill Dmitriev, detailed the developing plan on Thursday at the BRICS forum. RIDF is a $10 billion wealth fund of the country created by the Russian government. The announcement was reported by RBC Group, a…

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Iran Proposes Rewards to Informers Against Illicit Crypto Mining

Iran Proposes Rewards to Informers Against Illicit Crypto Mining

Iran has introduced a new policy, proposing that anyone who shares information about illegal and unauthorized mining of cryptocurrency in the country will receive a bounty. This was surfaced following the country’s new introduced regulations regarding the calculation of price of electricity that is utilized by crypto miners. Iran’s Energy Ministry’s spokesperson announced that anyone who will go on record and expose people who have wielded electricity for the mining of digital currencies will receive…

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IRS: Reinvested Crypto Holdings Are Not Exempted from Taxation

IRS: Reinvested Crypto Holdings Are Not Exempted from Taxation

According to an official from the United States Internal Revenue Service (IRS), ‘like-kind’ tax exemption has not been applied for taxpayers with crypto transaction records. This holds true for transactions even before 2018. After changes were introduced to the 2017 taxation structure, taxpayers were prohibited from utilizing the tax exemption scheme to defer the payments. A like-kind exchange can be defined as a tax-deferred transaction that allows for the disposal of an asset and the…

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OneCoin’s Konstantin Ignatov Confesses to Fraud in the Crypto Ponzi Scheme

OneCoin’s Konstantin Ignatov Confesses to Fraud in the Crypto Ponzi Scheme

The brother Ruja Ignatova, Konstantin Ignatov, has confessed to his involvement in the crypto fraud of OneCoin. He pleaded guilty to multiple charges such as fraud and money laundering. Authorities have concluded that over $4 billion was fraudulently raised internationally in what appears to have been a cryptocurrency Ponzi scheme. The organization behind OneCoin that is based in Bulgaria denies all allegations and remains operational. Ignatov was arrested in March, from the Los Angeles International…

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John McAfee’s New Defying Cryptocurrency: Epstein Didn’t Kill Himself (WHACKD)

John McAfee’s New Defying Cryptocurrency: Epstein Didn’t Kill Himself (WHACKD)

The famous (and infamous) computer programmer, businessman and now a prominent cryptocurrency commentator, John McAfee, has re-entered the crypto world by launching a new cryptocurrency called “Epstein Didn’t Kill Himself” with the subtle ticker name WHACKD. The cryptocurrency project, WHACKD, is first of its kind and outshines John McAfee’s earliest eccentric projects. Revealed in a series of tweets, McAfee claims that nothing like WHACKD “has been seen before.” McAfee said that the recipient of one…

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New Law in Ukraine Obliges Citizens to Report Cryptocurrency Holdings

New Law in Ukraine Obliges Citizens to Report Cryptocurrency Holdings

The Ukrainian government has passed a new law that ensures that the citizens of the country reveal the amount of cryptocurrency they hold. The new law is part of Ukraine’s efforts to tackle the issue of corruption. One part of the new law forces citizens to disclose if them or any of their close relatives hold cryptocurrency. The aim of this legislation is for the Ukrainian government to legalize digital currencies so they can implement…

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Crypto Mining Manufacturer Canaan Sets IPO Share at $9-$11; Seeks to Raise $100M

Crypto Mining Manufacturer Canaan Sets IPO Share at $9-$11; Seeks to Raise $100M

Crypto mining manufacturer Canaan Creative announced that it would endeavor to raise $100 million through its initial public offering (IPO) on the Nasdaq. According a report published by Renaissance Capital, Canaan seeks to distribute 10 million equity shares at a price between $9 and $11. Canaan creative is a cryptocurrency mining manufacturer based in Hangzhou, China. Recently, it approached U.S. Securities and Exchange Commission (SEC) to update its IPO application. Officials at Canaan are hopeful…

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