Following up on the latest crypto news, the standoff between one of the crypto exchanges under investigation Kraken and the New York Attorney General is still ongoing.
As a short recap about the situation, allegedly three major cryptocurrencies broke New York state’s regulation and violated the virtual currency regulations. Kraken is one of the three. As an answer to the allegations, the exchange asks whether OAG employees manipulated bitcoin futures.
The San Francisco-based exchange, it’s the 16th largest crypto exchange by daily volume, responded to the report recently released on Twitter and the response made it to all major crypto news platforms. Kraken accused the OAG employees of manipulating the bitcoin price by releasing this kind of a report just a day before the expiry date of the CBOE’s exchange bitcoin futures contracts.
“Is it a coincidence that this was published the day before the expiration of the @CBOE futures contract? Who traded on insider information and what is being done to prevent manipulation by @NewYorkStateAG employees? Quis custodiet ipsos custodes?”
Kraken also continued in a series of tweets accusing the OAG that they want to shut down the exchange since it declined to fill out the agency’s questionnaire.
In their report, the OAG stated:
“They have so far refused to comply with our inquiry into the matter. The only conclusion we can make at this time is that they might be engaged in unlawful activity.’’
In their own manner, Kraken thanked the OAG for doing all the work in researching taxpayers’ expenses and providing them with confidential information about their competitors.
The Russian Parliament Pushed Back On Its Crypto Regulation Bill Reading
‘’In most countries, cryptocurrency is not a means of settlement. The Central Bank of the Russian Federation believes that cryptocurrencies cannot be a means of payment, settlement or store of value. These currencies are not secured by anything.’’Russia has minimal progress on the crypto regulation question. The central bank of the country has refused to get into cryptocurrencies or even recognize them as a mean of payment after the head of bank Elvira Nabiullina had a pretty contradictory stance on ICO fundraising calling it ‘’efficient.’’ According to the Russian media outlets, the delay of the crypto bill draft reading was initially proposed by the head of the Duma’s Financial Market Committee Anatoly Aksakov. He didn’t explain why he wanted to postpone the reading so it will be remembered that the committee recommended that the bill could be adopted after removing the previously mentioned terms above such as digital currency or cryptocurrency. The initial draft bill aimed to create a better framework for regulating digital assets which were described as cryptocurrencies and tokens but more importantly provided a legal basis for smart contracts and their validity. The draft bill was set to recognize the minimal difference between cryptocurrencies and tokens and to make a plan to recognize the digital assets as property in Russia. The bill is extremely broad and non-specified because it was not discussed about it nor there was a change to provide legalization and improved regulation on crypto assets. Under the bill, all of the rights regarding cryptocurrencies will be transferred to the equity securities context.
Leader Suspect In Billion Dollar Laundering Via Crypto Is Seeking Extradition To Russia
‘’FinCEN acted in coordination with law enforcement’s seizure of BTC-e and Vinnik’s arrest. The Internal Revenue Service-Criminal Investigation Division, Federal Bureau of Investigation, United States Secret Service, and Homeland Security Investigations conducted the criminal investigation.’’Since he was arrested, Vinnik pleaded innocence and said that his biggest mistake was working for the BTC exchange platform. He is also believed to be involved in the Mt.Gox stolen funds scheme. The FinCEN report shows that via the BTC-e platform, more than $120 million were laundered and were connected with the now defunct platform. Vinnik is asking to be extradited to Russia after the Commissioner for Human Rights, Tatyana Nikolayevna Moskalkova asked for help from the United Nations High Commissioner for Human Rights Michelle Bachelet with the goal to take him to Russia. Tatyana claimed that Vinnik lost nearly 30% of his weight and that he needs to be with his wife who is suffering from brain cancer. In the U.S Vinnik was indicted on 21 counts and in Russia, he is only accused of smaller fraud charges that can be paid for about 10.000 Euros. The Greek court in 2017 approved Vinnik’s extradition to Russia but later another court decided to give him extradition to the United States. Later, the Greek Supreme Court ruled that Vinnik should be extradited to France so a clear decision has not been delivered yet.
Crypto Law Consultation Period Officially Started By The Swiss Federal Council
Mexico: New Crypto Regulations Could Shake The Country’s Exchanges
"If there are no Mexican-based exchanges, Mexicans will inevitably use exchanges based in other jurisdictions. Some of these foreign exchanges may be sensibly regulated by more forward-looking governments, but others may be rogue operations that deliberately evade any regulatory jurisdiction,""The average person has no idea how a car works, and yet people are allowed to drive them," the statement said. Bexico's proposals are subject to a 60-day consultation period during which a lot of things may change. Right now, industry officials and public members should outline their opinions on the case.
Join us on Facebook
- The Russian Parliament Pushed Back On Its Crypto Regulation Bill Reading
- After The First Successful Bitcoin Donation, Hamas Demands More
- Bollywood Actors Involved In ‘’Cashcoin’’ $14 Million Crypto Scam
- Not So Popular: Justin Sun Apparently Has Fake Twitter Followers
- New Reports Show Bitcoin Mining Is 23 Times Less Expensive Than Gold Mining
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Blockchain News4 days ago
Postal Carrier Giant UPS Rolls Out A Blockchain Platform For Merchant Supply Chains
Uncategorized4 days ago
Facebook Is Looking For Senior Lawyer With Blockchain (Payments) Experience
Blockchain News3 days ago
Latin E-Commerce Giant Mercado Livre Bans Cryptocurrency Ads On Their Website
Blockchain News2 days ago
VISA Is Getting In Crypto And Looking For A Blockchain Developer Hero
Altcoin News3 days ago
USDT-TRON Stablecoin Is Going To Be Listed On OKEx
Analysis3 days ago
Bitcoin Goes Below And Above $4,000 Again: What’s Causing This Fluctuation?
Blockchain News3 days ago
Further Delay For Bakkt’s Plans Because Of Regulator Approval
Analysis3 days ago
Bitcoin (BTC) Is Likely To Surge To $400k, According To Prominent Analyst