FATF Terror Financing Report: Far-Right Groups Turning To Crypto

https://decrypt.co/74950/fatf-terror-financing-report-far-right-groups-turning-to-crypto

“As the #cryptocurrency ecosystem grows, it’s inevitable that #illicit finance will expand alongside it. The growth in cryptocurrency interest creates the potential for #money #laundering and #tax evasion.”

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FATF Report - Ethnically or Racially Motivated Terrorism Financing, June 2021:
https://www.fatf-gafi.org/media/fatf/documents/reports/Ethnically-or-racially-motivated-terrorism-financing.pdf

#Bitcoin  #AML #CFT #MoneyLaundering #Tax #TaxEvasion
#FATF #Decrypt #DecryptMedia

Banks block payments to crypto exchanges

https://www.telegraph.co.uk/business/2021/05/29/banks-block-payments-crypto-exchanges

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Archive (No subscription required / No paywall):
https://archive.is/dtFDz

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UK Bank Starling Bans Crypto Exchange Deposits Due To ‘Suspected Financial Crime’:
https://decrypt.co/72325/uk-bank-bans-crypto-exchange-deposits-due-to-suspected-financial-crime

“This is a temporary measure that we’ve taken to protect customers."

"Customers can continue to withdraw funds from crypto exchanges into Starling accounts."

#Bitcoin  #Starling #Bank #Monzo #UK #Exchange #Exchanges #DecryptMedia

Chinese Bitcoin Firm to Invest $25M in Texas Mining Center

https://decrypt.co/71482/chinese-bitcoin-firm-to-invest-25m-in-texas-mining-center

"The move to open a #mining center in #Texas is part of #BIT Limited’s objective to lower its #carbon footprint."

"[...] will #invest $25 million and jointly construct and operate the Texas mining center with [#BitDeer subsidiary] Dory Creek LLC.'

#Bitcoin  #BitcoinMining #BTC #Miner #BitcoinMiner #ASIC #Hashrate #Renewable #Energy #Electricity #China #DoryCreek #DoryCreekLLC #BITMining #DecryptMedia

DOJ Ransomware Panel to Propose 'Aggressive' Bitcoin Regulations: Report

https://decrypt.co/69410/doj-ransomware-panel-propose-aggressive-bitcoin-regulation-report

"The #Ransomware and Digital #Extortion Task Force is composed of staff from several Department of #Justice wings, including the #FBI, the Civil Division, the Criminal Division, the National Security Division, and the Executive Office for #US Attorneys."

The group’s recommendations will reportedly target #anonymous #cryptocurrency #transactions."

#Bitcoin  #Regulation #DoJ #DecryptMedia

Ireland Now Requires Crypto Firms to Comply With AML and KYC Rules

https://decrypt.co/69223/ireland-now-requires-crypto-firms-to-comply-with-aml-and-kyc-rules

"The EU’s Fifth Anti-Money Laundering Directive (#5AMLD) was transposed into Irish law—meaning that #crypto firms operating in the country now need to register with the central #bank."

#Bitcoin  #BTC #Ireland 🇮🇪 #EU #Europe #Exchange #BitcoinExchange #Exchanges #KYC #AML #AMLKYC #CTF #CentralBank #Regulation #Compliance #Financialinstitution #VirtualAssetServicesPovider #VASP #DecryptMedia

Canaan CEO Is Bullish on Bitcoin Mining Ahead of Earnings

https://decrypt.co/65932/canaan-ceo-is-bullish-on-bitcoin-mining-ahead-of-earnings

“Our approach is one of a multi-fab strategy, where we collaborate and work with a number of leading chip manufacturers to reduce supply-chain risks,"

"Canaan has begun operating its own mining business, as well as continuing to sell machines."

#Bitcoin  #Miner #BitcoinMiner #Mining #BitcoinMining #SHA256 #ASIC #Hashrate #MiningRig #Canaan #Avalon #AvalonMiner #A1246 #MiningFarm #Decrypt #DecryptMedia

Bitcoin Mining Revenues Hit Record $1.5 Billion in March

https://decrypt.co/63755/bitcoin-mining-revenues-hit-record-1-5-billion-in-march

"The final figure is roughly in line with projections from mid-March, when blockchain data firm Glassnode reported that miners were taking home $52.3 million per day."

"Of course, #revenue is not the same thing as #profit. But #mining #profitability has consistently risen since October 2020."

#Bitcoin  BitcoinMining #Miner #BitcoinMiner #NetworkFees #TXFee #FeeMarket #Security #ASIC #Rig #DecryptMedia

Tether Is Trying to Be More Transparent. But Questions Linger

https://decrypt.co/63577/tether-attestation-takeaways

"#Tether must 'publish the categories of assets backing tether (e.g. #cash, #loans, #securities, etc.) specifying the percentages of each such category'. [...] Yesterday’s #attestation doesn’t contain anything like this."

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Independent Accountant's Report
https://tether.to/wp-content/uploads/2021/03/tether-assurance-feb-2021.pdf

#Bitcoin  #USDT #MooreCayman #NY #NYAG #Settlement #Liquidity #Asset #Stablecoin #Reserves #DigitalAssets #DecryptMedia

You Might Not Have to Tell the IRS About Your Bitcoin

https://decrypt.co/60103/irs-bitcoin-crypto-question-update

“They're explicitly saying that if you're just purchasing crypto using US dollars, we don't have to know about you,”

“'It wasn't super obvious to anybody,' CoinTracker's head of tax strategy said. 'And a lot of people were confused, because the IRS was not very clear.'”

#Bitcoin  #IRS #InternalRevenueService #US #USA #Tax #Compliance #Taxes #Stablecoin #VirtualCurrency #Crypto #CoinTracker #DecryptMedia

Bitfarms Targets 5% of Bitcoin's Hash Rate With 48,000 New Miners

https://decrypt.co/59938/bitfarms-targets-5-of-bitcoins-hash-rate-with-48000-new-miners

"The firm’s operational hashing capacity will grow by a factor of eight from current levels by December 2022."

"The miners will be delivered by MicroBT [...] over the next two years on a monthly basis and installed at Bitfarms’ hydro powered facilities located in the province of Quebec."

#Bitcoin  #Mining #Bitfarms #Hydro #Hydroelectric #Power #Electricity #MicroBT #ASIC #Hashrate #DecryptMedia