PYMNTS

OCTOBER 13, 2020

Department of Justice, which said in a report that rogue nations and other risks loom as exchanges are lightly (or not at all) regulated – making it difficult to, as the maxim goes, follow the money. billion of cryptocurrency reportedly was lost to theft or fraud – double that of the previous year. In the report from the U.S.

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Abrigo

JANUARY 31, 2023

Takeaway 2 Banks should be proactive in understanding fraud trends and FinCEN priorities to prepare for future rulemaking. The next expected rulemaking will revise FinCEN’s customer due diligence (CDD) rule to bring current regulations in line with the first two rules. billion to fraud in 2021, a 70% increase over the prior year.

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PYMNTS

DECEMBER 24, 2020

If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. Keeping An Eye On Fraud.

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PYMNTS

JUNE 24, 2019

The think pieces have come in waves, as have the reactions from analysts, cryptocurrency enthusiasts and regulators — and the world waits to see exactly what Facebook and its cadre of payments and commerce players design. There will be perceptual hurdles to clear, and regulators to convince.

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PYMNTS

SEPTEMBER 11, 2019

Cryptocurrencies — Facebook’s Libra included — face at least some new headwinds as they target a mainstream embrace. The official said she was planning to meet with the Swiss financial regulator, FINMA, this week, in discussions that according to Coindesk would focus on anti-money laundering (AML) efforts. On Wednesday (Sept.

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PYMNTS

JUNE 23, 2019

Overstock CEO Patrick Byrne said that he welcomes Facebook ’s entry into the cryptocurrency market. Byrne told CNN Business that the social media giant’s launch of its own digital currency validates the space — and Overstock would be open to partnering with Facebook on the project. I perpetrated a fraud.

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PYMNTS

NOVEMBER 15, 2019

German cryptocurrency company Karatbars has been ordered to stop doing business after being accused of running a pyramid scheme. But in May, authorities in Namibia called Karatbar a pyramid scheme, while last month, Florida’s financial regulator denied that the company had been issued a banking license.

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PYMNTS

JANUARY 30, 2018

29), the SEC’s complaint states that AriseBank “used social media, a celebrity endorsement and other wide dissemination tactics to raise what it claims to be $600 million of its $1 billion goal in just two months.” In addition, the agency was able to freeze the company’s assets and those of its two co-founders, CNBC reported.

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PYMNTS

JULY 23, 2019

The social media giant is now compelled to address a growing number of fabricated exchanges associated with its digital asset, The Washington Post reported on Tuesday (July 23). Facebook’s Libra has not even officially rolled out, yet there are already fake outlets springing up.

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PYMNTS

AUGUST 6, 2018

The social media company has been exploring ways to incorporate that type of data onto its site by potentially allowing members to check their balances or get fraud alerts. Starbucks said it will not begin accepting cryptocurrencies as a payment method for its products, despite reports that led to speculation about its policies.

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PYMNTS

JUNE 6, 2019

Dutch billionaire John de Mol, who created the reality TV program “Big Brother,” is suing Facebook for allowing fake ads which used his name and image to commit bitcoin-related fraud that swindled 1.7 De Mol’s lawyers accuse the social media giant of failing to prevent the ads, as well as not responding fast enough to complaints.

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PYMNTS

NOVEMBER 21, 2017

What’s more, it removed its social media footprint from the internet, which included shuttering its Twitter, Facebook, Reddit and Medium accounts. This isn’t the first cryptocurrency company to go under during the course of the last several weeks.

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Tomorrow's Transactions

OCTOBER 8, 2014

Innotribe’s bitcoin series included talks on regulation, disruption and the future of investment in the space. Although Jeffrey Robinson, an author and journalist, described the digital currency as a fraud, he said the underlying technology was “brilliant.” From How Banks Can Cash In On Bitcoin - Informilo ].

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PYMNTS

JANUARY 1, 2021

Indian FinTech Cashaa and the country's United Multistate Credit Cooperative Society teamed up to launch what they say is the world's first cryptocurrency bank branch through a joint-venture bank called Unicas, according to a release. The operation also will provide traditional banking services, according to the backers. If the U.S.

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Gonzobanker

DECEMBER 14, 2023

The Bank Regulator Working for Merchants Award! Seems like maybe this has been forgotten when it comes to these regulations. The Lifelong Learning Award – goes to NCUA board member Rodney Hood for enrolling in a Wharton graduate program on fintech to be a more informed and effective regulator.

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Vitalik Buterin

APRIL 20, 2018

Robin Hanson recently proposed greatly expanding liability insurance mandates as an alternative to many kinds of regulation, and while imposing new mandates on an entire society seems unrealistic, a new expanded immigration program seems like the perfect place to start considering them. And this is where the interesting conversation starts.

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PYMNTS

FEBRUARY 16, 2019

His commentary about bitcoin over the years has included the words “stupid” and “a fraud,” along with threats to fire any employee caught trading it. The most positive thing Dimon could ever bring himself to say about the cryptocurrency seemed to be that he doesn’t care enough about it to be the official spokesman against it.

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PYMNTS

JULY 15, 2019

It has been about a month since Facebook pulled back the curtain on its vision for Libra – a blockchain-backed cryptocurrency with the lofty aim of connecting the 1.7 And regulators in the U.S. But will regulators want to come to the table – or is it more likely they will want to shut it down?

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