New York Makes First Money Laundering Conviction Involving Cryptocurrency

In what the Manhattan District Attorney calls the first crypto money laundering conviction in New York, two defendants have pleaded guilty to running a drug trafficking business that laundered millions of dollars in Western Union and crypto payments. According to an official announcement shared by the District Attorney’s office on April 24, 2019, Mark Sanchez and Callaway Crain have pleaded guilty to charges of money laundering through the sale of controlled substances on their website and on the dark web. “These defendants raked in crypto and cash worth millions on…

John McAfee Says He Will Reveal Who Satoshi Nakamoto Is

According to a Bloomberg report, notorious crypto enthusiast and antivirus software maker, John McAfee, claims to have spoken with Bitcoin creator Satoshi Nakamoto. Further, he says he will reveal this person’s identity. John McAfee Claims to Know Satoshi Nakamoto When this reveal will be, however, remains unclear, despite McAfee initially telling Bloomberg he would expose Nakamoto “within a week.” McAfee said yesterday that the controversy his announcement would bring could damage his efforts to fight extradition to the US. Saying in a Twitter post: “Releasing the identity of Satoshi at this…

Coinbase Closing Markets Office in Chicago

According to a report from Fortune on April 23, 2019, the U.S.-based cryptocurrency exchange Coinbase will shut down its Chicago office. Coinbase will scale back plans for a high-frequency trade matching engine in development there, software that automatically matches trade bids to complete trades at a higher rate. The exchange will also lay off about 30 engineers and transfer others to its San Francisco office. An unnamed Coinbase spokesperson told Fortune that the closure was due to a change in the company’s focus and that the exchange will instead work…

Report: North Korea May Exploit Southeast Asia’s Crypto Exchanges

North Korea could pose a threat to countries across Southeast Asia as it looks to exploit cryptocurrency exchanges due to gaps in regulatory frameworks, according to a new report. The research from the Royal United Services Institute (RUSI) finds that as North Korea continues to circumvent international sanctions, it’s turning its attention to cryptocurrencies such as bitcoin. Due to the proximity of Southeast Asia to North Korea, this makes it vulnerable to the nation’s cryptocurrency activity. “Since Southeast Asia also features a nascent but burgeoning cryptocurrency industry, local law enforcement…

CoinBene Claims Maintenance, a Month of Questions Point Toward a Hack

Remember CoinBene, the cryptocurrency exchange platform that denied being hacked at the end of March 2019, and instead saying it was undergoing maintenance? Well, it turns out the platform is still under maintenance, or so the company says. Meanwhile, Cointelegraph has received exclusive details from stakeholders reportedly affected by the situation. These reports, for the most part, were only discussed on social media platforms like Twitter and Telegram but have yet to make an appearance on the cryptocurrency news circuit — until now. The CoinBene saga — timeline of events…

Credit Suisse Exec Says Bank Culture Holds Back Adoption of Blockchain

Head of digital market assets at Credit Suisse, Emmanuel Aidoo, said that the desire among financiers to maintain the status quo is holding back the adoption of blockchain technology, Business Insider reported on April 23. In an interview with Business Insider, Aidoo said that banks’ unwillingness to adopt blockchain lies in culture within banks, and has nothing to do with the technology’s immaturity or a lack of potential use cases within financial organizations. Aidoo said: “What is preventing the banking industry from rushing into it? I think it’s mostly culture.…

Societe Generale Subsidiary Issues 100 Million Euro Bond on Ethereum Blockchain

French specialized credit institution Societe Generale SFH issued a 100 million euro ($112 million) bond as a security token on the Ethereum (ETH) blockchain. The company announced the development on its website on April 23. Societe Generale SFH —  which is a subsidiary of one of Europe’s largest financial services groups, Societe Generale Group —  has rolled out its first pilot project developed in collaboration with Societe Generale FORGE. The latter is an internal startup launched through the Group’s intrapreneurial program, the Internal Startup Call. The transaction’s goal was to…

Cashaa Now Accepts Debit, Credit Cards for Crypto Purchases

Online banking platform Cashaa is set to allow users to purchase bitcoin, ether and Cashaa’s own token, CAS, using major credit and debit cards. This new service is a follow-up to the Business Banking Services Cashaa launched earlier in April 2019, which allows both individuals and private firms to open accounts with Cashaa and accept cryptocurrency payments. According to a company statement shared with Bitcoin Magazine, the service will be available to users all over the world, excluding the U.S. Launched in 2016, Cashaa’s stated mission is to use the…

Out of Testnet and Into Alpha: Lightning Labs’ Desktop Application Is Live

Lightning Labs just released an alpha version of its Lightning Network wallet. The desktop application is now compatible with Bitcoin’s mainnet and it leverages Neutrino (the protocol, not the analytics company acquired by Coinbase) to give users a lightweight option to “control their own funds,” as opposed to running a full node or trusting a third party to play custodian. “This release required a diverse skill set of protocol engineering, product development and design thinking,” Tankred Hase, a Lightning Labs application developer, told Bitcoin Magazine. “I’m lucky enough to work…

Following Expansions, Japanese Regulator Investigates Local Crypto Exchanges

Japan’s Financial Services Agency (FSA) is looking into two major cryptocurrency exchange platforms as part of an investigation. According to a report published by Reuters Japan on April 23, 2019, the investigation by the financial watchdog is connected to the legal compliance and customer protection standards of trading platforms Fisco Digital Asset Group (FDAG) and Huobi Japan, the Japanese subsidiary of Huobi Global. FDAG recently acquired the crypto exchange Zaif, which was hacked last year, from Tech Bureau for $44.7 million. Huobi Global, meanwhile, expanded into Japan through the acquisition…