IMF WARNS EL SALVADOR AGAINST BITCOIN RISKS

El Salvador should not adopt bitcoin as its official currency given the risks associated with this cryptocurrency, the International Monetary Fund said on Monday.This IMF publication comes the day after Salvadoran President Nayib Bukele announced his desire to build “Bitcoin City”, a new city powered by the energy of a volcano and financed by cryptocurrency … Read more

How does forex trading work?

For as long as there have been different currencies, people have tried to use the value of fluctuations to their own advantage. In earlier times, however, this was usually associated with a lot of effort. It was digitization that made it possible for anyone to trade in different currencies under the buzzword “Forex Trading” within … Read more

Cryptocurrency: UAE authorities approve cryptocurrency trading in the Dubai Free Zone.

UAE financial regulators have reached an agreement to officially authorize and support cryptocurrency trading in a free economic zone in Dubai. The Dubai World Trade Center Authority (DWTCA) announced on September 22 that it has signed an agreement with the United Arab Emirates’ Securities and Commodities Authority (SCA) to support the regulation and trading of … Read more

Huge online trading fraud: Investors damaged by 100 million euros

Several hundred interrogations and 50 account openings in Germany and abroad were carried out. Thousands of Austrians ripped off. The Central Public Prosecutor’s Office for the Prosecution of Commercial Criminal Matters and Corruption (WKSTA) conducts numerous investigations against international groups of perpetrators, which a large number of private investors in total in connection with so-called … Read more

Bitcoin, the invisible laundering of mafias and international terrorism

They will also be virtual but the damage to the economy and the fight against money laundering, organized crime and international terrorism are real.In 2014, the Financial Action Task Force Group(Gafi-Fatf), the independent intergovernmental body that develops and promotes policies aimed at protecting the global financial system against money laundering, terrorist financing and the proliferation … Read more

Anonymous cryptocurrencies are to be banned

According to the will of the EU Commission, crypto wallets without registration are to be banned. This is to prevent money laundering.,The EU Commission has presented a package of measures to prevent money laundering and terrorist financing, which includes regulations for crypto currencies such as Bitcoin, Ethereum or Ripple. The transfers should be completely traceable, … Read more

New investigations into organized crime

The police in the country launched 24 new investigations into organized crime. This is reported by the State Criminal Police Office and refers to the evaluation of so-called enchrochat data. Drug offenses in particular are the focus of the proceedings. Twelve suspects have now been arrested. In addition, around three kilograms of cocaine, around six … Read more

Money laundering: new regulation creates transparency

The regulatory package now presented by the EU Commission to combat money laundering can contribute to clear regulations and guidelines for the whole of Europe. The German Trade Association (HDE) therefore rates the suggestions as positive in principle. The reallocation of the legal basis as an EU regulation that applies directly across Europe and the … Read more