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Internal Revenue Service Sends New Round of Letters to Crypto Holders

[ad_1] Last week, the United States Internal Revenue Service sent another round of letters to crypto traders called CP2000. These notices were sent to traders of some crypto exchanges due to inconsistencies found in their tax reports.Using the information provided by third-party systems — such as crypto exchanges and payment systems — the IRS has been able to determine the amounts traders owe and included the amounts in dollars in
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Kraken OTC Head: Bitcoin Is Not Safe Haven Yet

[ad_1] Head of over-the-counter (OTC) sales at cryptocurrency exchange Kraken Nelson Minier compared today’s cryptocurrency trading industry to how Wall Street used to be, adding that it is still too soon to call Bitcoin a safe haven for investors.During the Nasdaq TradeTalks interview published on Aug. 22, Minier stated:“Wall Street ain't what it used to be. The first 15 years I was on Wall Street, it was fun. I was
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Waves DEX Now Supports Ethereum-Based ERC-20 Tokens

[ad_1] Blockchain platform Waves added support for Ethereum-based (ETH) ERC-20 standard compliant tokens to its decentralized exchange (DEX).On Aug. 22, the platform announced that Waves’ built-in DEX began supporting ERC-20 tokens. Recently, Waves team also launched a new gateway with Vostok and Ergo tokens support.High hopes for the featureWaves’ team also expressed hope that the new feature will have a positive impact and will attract new traders and assets to
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Huobi Processed 50% of All PlusToken Withdrawals This Month: Report

[ad_1] Chinese crypto exchange Huobi has seen the highest number of withdrawals from the alleged crypto Ponzi scheme PlusToken to date, new research says.Chinese exchanges prevailNew York-based blockchain infrastructure firm Elementus released a study on Aug. 23, claiming that the number of PlusToken withdrawals sent to Huobi exchange has accounted for nearly 50% so far.As Cointelegraph reported earlier in August, PlusToken apparently began a mass sell-off of Bitcoin (BTC) that
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Crypto News From the German-Speaking World: Week in Review

[ad_1] The German-speaking world was highly active as far as crypto was concerned this past week. Among other stories, the German Federal Financial Supervisory Authority (BaFin) issued several items of interest to the crypto community, a new fund for blockchain startups launched in Hamburg and an Austrian crypto ATM service filed for bankruptcy following an armed robbery.On Aug. 16, the BaFin published a leaflet for issuers of crypto tokens that
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Chainalysis Rolls Out Real-Time Threat Detector for 15 Major Cryptos

[ad_1] Blockchain analytics firm Chainalysis has launched transaction alerts for suspicious exchanges of a range of cryptocurrencies.In a post published on the firm’s blog on Aug. 22, Chainalysis announced the launch of alerts for suspicious cryptocurrency transactions in Chainalysis Know Your Transaction (KYT), the company’s real-time anti-money laundering compliance solution. The company also claims that this is the first compliance alerts solution available for 15 crypto assets.Compliance risk mitigationThe tool
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Bitcoin Price Fights to Hold $10K Support While Altcoins See Drops

[ad_1] Saturday, Aug. 24 — crypto markets continued to see red today as Bitcoin (BTC) has dipped below $10,000 price mark several times over the past 12 hours.Only two out of the top-20 coins by market cap are seeing gains over the past 24 hours at press time, including Cardano (ADA) and NEO (NEO), which are up 1.3% and 2.6%, respectively.Market visualization | Source: Coin360BTC fights to hold $10K supportBitcoin
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US FTC Settles With Alleged Crypto Pyramid Scheme for $500,000

[ad_1] The United States Federal Trade Commission (FTC) has settled charges it filed in 2018 against an alleged crypto pyramid scheme involving four individuals.Terms of settlementAccording to an official statement on Aug. 22, the regulator permanently banned the defendants from multi-level marketing and misrepresenting investment opportunities and charged a total of over $500,000 as part of the settlement.In March 2018, the FTC first obtained a court order against Thomas Dluca,
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Ethereum Is in a Bear Market, But One Analyst Explains Why He’s Long

[ad_1] Nowadays, it seems everyone is bearish on Ethereum and its Ether token (ETH) except for Placeholder VC partner Chris Burniske, who, earlier this week, made the case for why he believes ETH/USD is a great long-term investment. According to Burniske, the oft-cited narrative that the implosion of the ICO market led to Ether losing its use case is not entirely accurate. Rather, he posits that Ether is going through its
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US Man Pleads Guilty to Running $25 Million Bitcoin Laundering Scheme

[ad_1] A Los Angeles man pleaded guilty to running a $25 million Bitcoin (BTC) money laundering scheme and sale of methamphetamine.Possible life sentenceNews outlet U.S. News reported on Aug. 23 that 25-year-old Kunal Kalra has pleaded guilty to charges including money laundering and distributing methamphetamines. Per the report, he could be sentenced to life in prison.The authorities allegedly claim that from 2015 through 2017 Kalra exchanged BTC and dollars, ran