March 31, 2021

cryptocurrency

What You Need To Know Before Starting A Cryptocurrency Business

By Tyler Gallagher, CEO and Founder of Regal Assets, an international alternative assets firm with offices in Beverly Hills, Toronto, London and Dubai.

Starting a business is never an easy feat, especially so when it’s a cryptocurrency venture. Cryptos still occupy a new space in the market that’s still impacted by financial and regulatory risk. Yet stories of fame, fortune and get-rich-quick IPOs tempt many an entrepreneur to the cryptocurrency sector — and too often for the wrong reasons. 

Cryptocurrency holds the potential to democratize finance and create a true peer-to-peer medium of exchange that’s free from government

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Tech entrepreneur John McAfee charged with fraud, money laundering in cryptocurrency schemes

The Southern District of New York has charged tech entrepreneur John McAfee and his cryptocurrency team with fraud and money laundering conspiracy crimes related to two schemes that netted them $13 million.

McAfee, 75, and his executive adviser, Jimmy Gale Watson Jr., 40, are accused of crimes including conspiracy to commit commodities and securities fraud, conspiracy to commit securities and touting fraud, conspiracy to commit wire fraud, substantive wire fraud and conspiracy to commit money laundering for their alleged

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270 addresses are responsible for 55% of all cryptocurrency money laundering


Image: Chainalysis

Criminals who keep their funds in cryptocurrency tend to launder funds through a small cluster of online services, blockchain investigations firm Chainalysis said in a report last week.

This includes services like high-risk (low-reputation) crypto-exchange portals, online gambling platforms, cryptocurrency mixing services, and financial services that support cryptocurrency operations headquartered in high-risk jurisdictions.

Criminal activity studied in this report included cryptocurrency addresses linked to online scams, ransomware attacks, terrorist funding, hacks, transactions linked to child abuse materials, and funds linked to payments made to dark web marketplaces offering illegal services like drugs, weapons, and stolen data.

But while

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Bitcoin hits record as US financial giants embrace cryptocurrency

The bitcoin price hit a record high on Thursday after two major US financial institutions announced new cryptocurrency projects, edging digital assets closer to mainstream use in ordinary purchases and as an investment.

Mastercard said on Wednesday that later this year it would begin moving cryptocurrencies directly across its card payments network. Previously, the company had only worked with crypto wallets and exchanges to move funds after they had been converted from digital coins into fiat currency.

And on Thursday, BNY Mellon, the custody bank, announced that by the end of the year it would provide custody services for digital

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