May 23, 2019 at 12:37
News
San Marino to Regulate Blockchain to Promote its High-Tech Profile
The council works on amendments and approvals of decrees related to innovative technologies in the Republic of San Marino. This small enclave nation enclosed by Italy wants to be among the first states to regulate and approve blockchain and its far-flung applications. The decree also aims to revive the country's economy and promote its high-tech profile.
Apr 17, 2019 at 10:12
News
Italy Lost €10 Billion in Cryptocurrency via Cybercrime
Cybercrime, such as online fraud, industrial undercover activities, and the use of cryptocurrency for money laundering, etc. in Italy, is the rapidly increasing malevolent business with the highest margins of diffusion in the future, according to the Global Risk Report 2019 by the World Economic Forum. The country incurred a loss of around €10 billion in 2018.
Apr 13, 2019 at 11:09
News
Taxation Side of Bitcoin & Cryptoсurrency in Italy
The cryptocurrency regulatory framework in Italy still has many uncertainties, particularly around tax obligations, in addition to anti-money laundering (AML) and financial transparency onuses and obligations. The Italian tax authorities have offered some indications, but tactlessly they are very far away from convincing.
Apr 05, 2019 at 08:48
News
Mafias in Italy Use Bitcoin & Cryptos for Money Laundering
The rate of illegal activities including money laundering through Bitcoin (BTC), is alarming in Italy and throughout Europe at large. Crypto startup Eidoo, founded by Italians, which allows users to store, convert and spend digital currencies, selected an apartment in 2017 in a building structure that was sequestered for ndrangheta in Chiasso, Switzerland, just 0.4 kilometers from the Italian border.
Mar 24, 2019 at 14:54
News
San Marino Issues Blockchain and Crypto AML Decree
In an effort to prevent illegal activities that go with blockchain and crypto, Republic of San Marino has come up with a decree aiming at creating strong anti-money laundering regulation (AML) in relation to the distributed ledger technology (DLT), so as to standardize the technology, and further evaluate all potential scenarios in Italy.
Mar 17, 2019 at 14:28
News
Europe Fights Illegal Activities Associated with Crypto
Crypto currencies such as Bitcoin, Ether, Ripple and others, facilitate money laundering activities by 4% in Europe. In June 2018, the European Union (EU) created the 5th Anti-Money Laundering Directive (AML5) to tackle these illegal activities related to virtual currencies including funding terrorism.
Blockchain will Stop Fraud: Falciani Creates his Own Crypto
Frenchman whistleblower Hervé Falciani, the ex-mole of tax evaders, officially presented his blockchain-based project aiming to fight fraud and money laundering. The former UBS senior system engineer, who published the 'top secret' list of tax evaders that had financial accounts at the branches of the Swiss bank in the 2008 Valencia Polytechnic University bang, went in exile in the city of Madrid, Spain. Falciani became famous as the HSBC former employee.
Mar 01, 2019 at 09:29
News
Crypto Italy: OECD Takes Measures Against Laundering Money
OECD developed a set of anti-money laundering methods that covers manipulations with digital currencies as well as fiat currencies. Such measures include adequate verification of customers for transactions exceeding $1,000, sanctions for legal violations, and registering the subjects that provide crypto related services.
Feb 05, 2019 at 10:28
News
Indian Government is in Fear of Cryptos Sweeping Out Rupee Fiat Currency
The risks associated with digital currencies such as Bitcoin (BTC) are very clear. The dark side of the cryptocurrency revolution includes terrorism financing, money laundering, drug dealing, sex, violence, gambling and more. But a prominent panel tasked with drafting rules for the crypto industry in India is now haunted by its impact on a less-tapped field.