Canadian Crypto Traders In Trouble? Regulator Flags 40% For Possible Tax Fraud
Canada’s tax authority has told investigators that roughly 40% of people using crypto platforms are at risk of not paying the right amount of tax. Related Reading: Bitcoin Back In Argentina: Central Bank Removes 3-Year Restrictions Reports have disclosed the figure as part of a wider push by the Canada Revenue Agency to bring crypto […]
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Canada’s securities regulator has flagged tweets by Coinbase CEO Brian Armstrong and Kraken CEO Jesse Powell encouraging people to use non-custodial wallets to evade freeze orders by the Trudeau government. “We are aware of this information and have shared it with the RCMP and relevant federal authorities,” said the Canadian regulator. Tweets by CEOs of Coinbase and Kraken Flagged to Police Canadian regulator, the Ontario Securities Commission (OSC), has alerted the Royal Canadian Mounted Police (RCMP) and other federal authorities to tweets concerning Canada’s....
Sebastien Vachon-Desjardins — a former Canadian government IT professional — was charged with conspiracy to commit computer and wire fraud, and other offenses in a federal court in Florida, the US Department of Justice said Friday. The Royal Canadian Mounted Police (RCMP) raided Vachon-Desjardins’s home and seized 719 bitcoins worth more than $28 million, or […]
The Texas State Securities Board (TSSB) has announced a series of enforcement actions against 15 online investment entities that illegally market cryptocurrency, binary options, and forex investments in Texas. Fake Social Media Accounts The regulator alleges that operators of the companies are using their social media skills as well as the internet to mask the fraudulent nature of their operations. The emergency enforcement order, therefore, stops the flagged companies from continuing to operate from the state of Texas until they get a license from the regulator. Meanwhile, in his comments....
The Ontario Securities Commission (OSC) claims that Binance has rescinded its commitment to comply with previously agreed requirements. The crypto exchange told the regulator that there would be no new transactions involving Ontario residents after Dec. 31. However, Binance recently informed its Ontario users that they no longer have to close their accounts by year-end.
OSC Says Binance’s Action Is ‘Unacceptable’
Cryptocurrency exchange Binance got into trouble with the Ontario Securities Commission (OSC) Thursday. Binance notified its users in June that....
The U.S. Commodity Futures Trading Commission (CFTC) has charged Mirror Trading International (MTI) and its operator with a $1.7 billion fraud involving bitcoin. This action is the regulator’s largest fraud scheme case involving the cryptocurrency.
CFTC Takes Action Against MTI
The CFTC announced Thursday that it has charged a “South African pool operator and CEO with $1.7 billion fraud involving bitcoin.” The regulator added:
This action is CFTC’s largest fraud scheme case involving bitcoin.
The derivatives watchdog has filed a civil....