An international investigation has dismantled a sophisticated money laundering ring operating between Spain and Cyprus, resulting in 23 arrests and the freezing of $28 million in cryptocurrencies. The group laundered over $100 million, utilizing commercial flights and public transport to transport cash. Authorities from Spain, Cyprus, and Germany collaborated with Europol to trace illicit cryptocurrency flows, leading to multiple raids across Europe.
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News from SVN
Generated 0 posts last week Bitstamp to Launch Regulated Crypto Derivatives Trading in Europe
Bitstamp, the longest-running cryptocurrency exchange, is set to launch regulated crypto derivatives trading in Europe, leveraging its MiFID license. This move follows increased regulatory clarity in the region and aims to shift market dominance from offshore platforms like Deribit. The exchange, recently acquired by Robinhood, is also well-positioned in the U.S. with multiple state licenses.
read moreGermany Passes Legislation for Full Implementation of EU Crypto Regulation MiCAR
Germany’s Bundestag has passed the Digitalization of Financial Markets Act, enabling the full implementation of the EU’s MiCAR cryptocurrency regulation before its December 30 deadline. This legislation designates BaFin as the regulator, allowing German firms to operate under MiCAR while establishing a one-year transition period for existing licenses. Meanwhile, varying transition periods across EU countries prompt urgency for crypto asset service providers to secure new authorizations to avoid operational disruptions.
read moreBitstamp Accused of Rug Pulling XRP Community Amid Liquidity Concerns
Dr. Artur Kirjakulov, CEO of XPMarket, accused Bitstamp of executing a “rug pull” by withdrawing over 90% of liquidity from USD/XRP and BTC/XRP AMM Pools without notice, raising concerns about the stability of Bitstamp’s IOUs and the assurance of 1:1 conversion rates. The XRP community is awaiting a formal response from Bitstamp amid growing skepticism regarding the exchange’s actions and their implications for decentralized finance on the XRP Ledger.
read moreBitstamp Enhances EU Position with MTF License and Strategic Partnerships
Bitstamp has secured a Multilateral Trading Facility (MTF) license from Slovenia’s Securities Market Agency, enhancing its EU regulatory standing and enabling the offering of complex financial products, including crypto derivatives like perpetual swaps. This move aligns with rising institutional interest in compliant financial products and positions Bitstamp competitively alongside other regulated EU trading facilities.Additionally, U.S.-based fintech Robinhood plans to acquire Bitstamp for $200 to bolster its presence in Europe and Asia, despite facing regulatory challenges from the SEC. Meanwhile, a partnership with payment provider Stripe aims to simplify crypto purchases for European customers, enhancing user experience and accessibility in the growing market.
read moreBitcoin Cash Price Surge Signals Potential for Further Gains
Bitcoin Cash (BCH) has surged over 15%, breaking above the $320 resistance and consolidating above $335. A bullish flag pattern suggests potential gains if it surpasses the $345 resistance, with targets set at $350 and possibly $362. However, failure to clear $345 could lead to a decline, with key support levels at $335 and $328.
read moreNiceHash Hosts First Bitcoin Conference in Maribor Slovenia
NiceHash is set to host the inaugural Bitcoin conference in Maribor, Slovenia, on November 8-9, celebrating a decade of its hashrate marketplace. The event aims to position Slovenia as a Bitcoin hub, featuring over 1,000 local businesses accepting BTC and a lineup of industry experts discussing European Bitcoin adoption and regulation. Attendees can expect an engaging expo, multiple stages, and networking opportunities, alongside a demonstration of NiceHash’s new BTC payment solution.
read moreBitstamp Initiates Repayment to Mt. Gox Creditors After Receiving Funds
Bitstamp has started repaying Mt. Gox creditors, with recipients expected to regain control of their assets within a week. Over $9.4 billion worth of Bitcoin is owed to approximately 127,000 Mt. Gox creditors, who have been waiting for over 10 years to recover their funds. Other exchanges, such as Kraken, are also working on repaying Mt. Gox creditors.
read moreInterest in Ethereum Surges as ETF Launch Nears, Bitcoin Also Gains Attention
Interest in Ethereum is rapidly increasing as the launch of spot ether exchange-traded funds (ETFs) approaches, with Google Trends data showing a significant rise in search queries for “ethereum.” Similarly, “bitcoin” searches have also seen a notable increase following a recent price surge. The global statistics reveal top regions for ethereum searches as St. Helena, Switzerland, Slovenia, Nigeria, and Singapore, while the top countries searching for bitcoin are Nigeria, El Salvador, Switzerland, the Netherlands, and Brazil.
read moreGlobal Crypto Trading Volume to Surpass $108 Trillion by 2024
Europe leads the global crypto trading market with a 37.32% share, projected to reach $40.5 trillion in 2024. Russia dominates European crypto trading, while North America experiences a decline in trading volume, potentially due to stricter regulations or market maturity. Asia, Africa, and South America are also expected to see significant increases in crypto trading volume.
read moreRobinhood to Acquire Bitstamp, Expanding Global Crypto Exchange Reach
Robinhood Markets has announced its acquisition of Bitstamp, a move aimed at expanding its global exchange capabilities and supporting expansion into Europe. The strategic acquisition, valued at $200 million, will enable Robinhood to tap into Bitstamp’s extensive global presence and enter the institutional business, while accelerating its global expansion and reaching new markets and customer segments. This marks Robinhood’s largest acquisition since its founding in 2013, positioning the company closer to its goal of becoming a “Super-App.”
read moreEthereum Code: Affordable Cryptocurrency Trading Platform with Global Reach
Ethereum Code is a free and user-friendly trading system that supports a wide range of cryptocurrencies and asset classes. With a minimum deposit of $250, users have full control over their funds and can withdraw at any time. The platform has received positive reviews, offering efficient customer support and advanced technologies for identifying trading opportunities and managing risks. Overall, Ethereum Code is considered a legitimate and secure trading platform, suitable for both novice and experienced traders.
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