7,000 BTC Lost in Hangzhou Scam

This article was originally published by 8btc and written by Vincent He. Nearly 100 victims from various parts of China have reported to the Hangzhou police bureau, claiming that they were deceived by two young men, named Zhou Yi and Li Xiang, who allegedly stole nearly 7,000 bitcoin through exchanging or borrowing. According to the…

Dutch Authorities Shut Down Bestmixer

The Dutch Financial Intelligence and Investigation Service (FIOD) has shut down cryptomixing site Bestmixer.io. According to local media, Dutch authorities moved to shut down the site on May 22, 2019, as part of a joint operation with police agencies from several European nations, including France, Latvia and Luxembourg. Following concerns originally raised by the online…

Bitcoin Businesses Push Back Against Proposed Canadian Crypto Regulatory Framework

On May 16, 2019, San Francisco-based crypto exchange Kraken posted on Twitter a summary of its response to the Canadian Securities Administrators (CSA) “Proposed Framework for Crypto-Asset Trading Platforms”: “Kraken strongly recommends against Canada imposing a security law framework on cryptocurrency exchanges in public response to the Proposed Framework for Crypto-Asset Trading Platforms published by…

IRS Commissioner Makes Crypto Tax Clarity a Priority

The U.S. Internal Revenue Service (IRS) is planning to overhaul its methods for determining the federal taxes due on cryptocurrency payments to improve clarity for taxpayers. The decision stems from the recent attempt by Minnesota Representative Tom Emmer to pass legislation reforming the way that hard forks and the resultant “forkcoins” are viewed by tax…

Dutch Man Arrested for $111 Million Fake Mining Scheme

On March 21, 2019, Dutch news outlet NL Times reported that “Berry van M.,” a 33-year-old Dutch businessman and the operator of now-defunct trading platform Koinz Trading, has been arrested on charges of deceiving investors with a bogus bitcoin mining scheme. The report claims that van M. was the director of companies that sold “computers…