Blockchain & Money

Multi-Million Bitcoin ATM Plot Exposes Holes in EU’s Money Laundering Net

Multi-Million Bitcoin ATM Plot Exposes Holes in EU’s Money Laundering Net

Spain’s Guardia Civil (Civil Guard) police unit has indicated that current rules in Europe are inadequate with regards to discouraging the use of Bitcoin ATMs to launder money. According to Bloomberg, this deficiency results from the fact that the owners of the Bitcoin ATMs are not required by the strict AML regulations to vet users…

Binance to Burn Over $2.5 Billion of Its BNB Stash. Guess Who Benefits?

Binance to Burn Over $2.5 Billion of Its BNB Stash. Guess Who Benefits?

Binance yesterday completed its eighth quarterly “burn” of BNB. With this move, the exchange follows its commitment to reduce the total token supply periodically. However, along with the obligatory token burn, Binance CEO Changpeng “CZ” Zhao announced that his company would relinquish its entire BNB allocation as part of its efforts to promote the growth…

FTC Nukes Facebook with Record $5B Fine, and Zuck Will Laugh It Off

FTC Nukes Facebook with Record $5B Fine, and Zuck Will Laugh It Off

The Federal Trade Commission has whacked Facebook with a record $5 billion fine stemming from the 2018 scandal in which a political consulting firm improperly accessed Facebook user data. The fine comes as a result of settlement talks between the two entities. The consulting firm, Cambridge Analytica, scraped data from 87 million Facebook profiles without…

Crypto Gambling App That Lets You Bet on Anything Calls It Quits

Crypto Gambling App That Lets You Bet on Anything Calls It Quits

Veil, a decentralized application that mostly interacts with Augur to help crypto users create and participate in prediction markets, is going away. Prediction Markets Just One Mass Appeal for Crypto The product itself that is. The company behind it will continue developing new products, and one thing that Veil leaves behind is the ability to…