The Central Bank of Brazil will implement new regulations in the cryptocurrency market to prevent crimes such as money laundering and other illicit activities in the digital sphere.

According to the announcement made on Monday, November 10, the new BCB regulations will take effect in February 2026 and will focus on controlling international transfers of virtual assets, subjecting them to the existing legislation for the foreign exchange market.

“In addition, there will be a limit equivalent to US$100,000 for transactions carried out with companies that are not duly registered as operators in the national foreign exchange market,” according to the regulatory body.

Furthermore, it is anticipated that companies operating in these virtual markets in the South American country “must have a minimum capital of between 10 and 37 million reais (US$1.8 million), depending on the area in which they operate, and have proper legal representation in the country.”

It is important to note that the Central Bank of Brazil has set a nine-month deadline, starting from the date the regulations come into effect, “for companies already operating in the national virtual currency market to adapt to these requirements.”

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Source: swissinfo

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La entrada Brazil’s Central Bank to implement new regulations for the cryptocurrency market apareció primero en Bitfinance.

Debit and credit card payments are a daily routine in global commerce. Technology facilitates the process and provides convenience to customers.

However, it is important to remain vigilant when using points of sale to avoid falling victim to illicit activities such as double charges, charges that do not correspond to the price of the item or good purchased, among others.

The invoice or receipt issued by POS terminals in stores, restaurants, and supermarkets should serve as proof of correct payment. Hence, it is important to request this receipt when making a payment, as it is the consumer’s right and is established by law, since this receipt reflects all the transaction details.

Paying close attention to the device screen at the time of payment to verify that the amount is correct is the main recommendation in digital commerce. This way, the person paying an amount can ensure they won’t be overcharged.

Many banks maintain a policy of sending an SMS to customers when using their card over specific amounts, which allows for detailed monitoring of spending.

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La entrada Security when making digital payments apareció primero en Bitfinance.

A study by the Crypto ISAC platform has revealed the preference of criminals for cash for their misdeeds over cryptocurrencies.

Cash leaves no digital footprint, making it almost impossible to detect illicit transactions. Hence, it is the preferred tool of criminals.

In contrast, in the case of cryptocurrencies, blockchain technology “offers greater transparency and traceability.”

Crypto ISAC details in the report that although “it is impossible to track the exact amount of illicit activity in the traditional financial space, the estimated amount of money laundered globally in one year is 2-5 % of the world’s GDP, that is, between 800,000 and 2 trillion dollars.”

For its part, the blockchain company Chainalysis detailed that last year, only “0.34 % of the transaction volume on the chain was linked to illicit activities.”

In any case, cryptocurrencies have been linked to illegal transaction for a long time because of the collapse of exchanges that, in any case, only represent a small part of the total cryptocurrency volume.

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Source: cripto247

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La entrada Criminals prefer cash to cryptocurrencies for scams apareció primero en Bitfinance.

The social network X, owned by Elon Musk, has been banned in different countries on the grounds that it violates the internal regulations of those nations, in addition to the dissemination of hate messages, false information or simply not appointing legal representation in each territory.

The most recent case, after Venezuela, has been the closure of X in Brazil by court order. However, other countries, such as Turkey, China and Uzbekistan had given the same order at another time.

The list of countries where social network X was blocked, so far, includes:

• China: The Asian country blocked the social network then called Twitter in June 2009, just two days before the 20th anniversary of the crackdown on pro-democracy demonstrations in Tiananmen Square. Citizens use Weibo and WeChat.
• Iran: During the demonstrations for the presidential elections of June 2009, Twitter was banned and remains to this day.
• Turkmenistan: The Central Asian country began blocking Twitter in early 2010, as did other foreign services and websites. Internet browsing is monitored by the authorities and is provided exclusively by the state-owned company TurkmenTelecom.
• North Korea: Although the country opened its account on the social network in 2010, it proceeded to block it in April 2016, as did Facebook, YouTube, and gambling and pornography websites. Only some government agencies have access to the Internet, and it is under the control of the government system.
• Burma: Twitter has been blocked in this country since February 2021, following protests against the military coup that overthrew the civilian government of Aung San Suu Kyi.
• Russia: Vladimir Putin’s government blocked Twitter by applying slowdowns from 2021. Moscow argued that the social network disseminated illegal content. It formally removed access in March 2022, as soon as the invasion of Ukraine began. Many Russian citizens continue to use X through VPN services.
• Pakistan: Since February 2024, access to X has been banned for security reasons, according to the government.
• Venezuela: The ban on social network X was ordered by the government of Nicolás Maduro as of August 9, after the presidential elections of July 28, when the National Electoral Council declared him the winner for a third term.
• Brazil: Federal Supreme Court Justice Alexandre de Moraes ordered the definitive suspension of X in the country on Friday, August 30, after some accounts whose suspension had been ordered by Brazilian courts were reactivated. The fine for those who enter the platform using VPN would be 50,000 reais (approximately $8,900) per day.

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Source: rfi

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La entrada Social network X faces blocking in different countries around the world apareció primero en Bitfinance.

Cryptocurrency crimes will be punished in Italy through regulations that establish fines between 5,000 euros and 5 million euros (USD $5,400 and USD $5.4 million).

People who commit crimes “such as insider trading, illegal disclosure of inside information or market manipulation related to digital currencies” will have to pay the high sums established by the authorities.

Italy seeks to implement stricter measures in the crypto market to control the risks linked to digital assets. All within the framework of the new laws of the European Union, the Crypto Asset Markets Law, MiCA.

The draft of new sanctions in Italy establishes that the country’s central bank and the market control body, Consob, will be in charge of implementation.

The new regulations add to independent measures by the Italian government to regulate the crypto industry.

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Source: diariobitcoin

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La entrada Italy to impose fines of USD 5 million for cryptocurrency crimes apareció primero en Bitfinance.

The Chilean Minister of Women and Gender Equality, Antonia Orellana, led this Saturday the event where the women violence law was promulgated.

The legal instrument was promulgated after seven years of processing before the Chilean Congress. The minister highlighted the importance of victims’ access to justice, as well as the implementation of prevention, protection, care, and reparation mechanisms.

Orellana pointed out that the new law incorporates “boys and girls as full-fledged victims, not only as witnesses of the violence suffered by their mothers and primary caregivers, but also recognizing them with all the scientific evidence available as full-fledged people to whom it also affects this situation.”

The Chilean government is thus advancing more effective mechanisms aimed at breaking the cycle of violence transmitted from generation to generation.

The law strengthens areas such as precautionary measures and “establishes judicial supervision mechanisms to guarantee their adequate compliance, in addition to expanding them to crimes of gender violence and attacks that occur outside filial, emotional or cohabitation relationships.”

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Source: swissinfo

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La entrada Chile enacted comprehensive to address violence against women apareció primero en Bitfinance.

During the march this Saturday, April 13, called by the United Socialist Party of Venezuela (PSUV), the president of the nation, Nicolás Maduro, proposed reforming the Constitution to include life imprisonment for crimes such as corruption and treason. Likewise, he proposed political disqualification for life.

The current president and candidate for re-election in the elections on July 28 took the opportunity to make the statement during the call to remember 22 years since Hugo Chávez returned to power after a coup d’état registered on April 11, 2002.

He pointed out that “to reform the Constitution it takes the people, and that in that sense he called on the people to debate the issue. At the moment, it has not made a formal call to hold a referendum.”

With respect to the maximum penalty contemplated by Venezuelan laws, there is a sentence of 30 years in prison, as stated in article 44 of the Constitution, which states that “the custodial sentences will not exceed thirty years.”

With respect to political disqualifications from holding public office, “one of the ways to establish this sanction is through the Comptroller General of the Republic, which can issue these sanctions temporarily in the event of a final ruling.”

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Source: CNN

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La entrada Maduro proposes life imprisonment against corrupt people apareció primero en Bitfinance.

The financing of terrorist activities in addition to blackmail and requests for ransom payment in cryptocurrencies are some of the crimes that the Spanish police have recently faced, in an international operation.

According to the Spanish National Police, “in collaboration with the authorities of other countries, he dismantled an established network that supported ISIS and that carried out cryptocurrency transactions to finance its terrorist activities across three continents.”

The international operation culminated in the arrest of five people, “two people in the province of Valencia and another three in Alicante, Cáceres and Guipúzcoa.” It was learned that four of the detainees are already in prison.

The follow-up to this case lasted two and a half years, it was carried out in two phases and the security forces of Morocco, Algeria, the United States, Mauritania and Switzerland participated.

The Isis support group mobilized large sums of money in international shipments, in addition to cryptocurrencies. The joint police action “led to the seizure of digital currency funds worth almost 200,000 euros.”

During a different operation, the Spanish National Police arrested four people in the case of extortion of a family to collect 4,000,000 euros in cryptocurrencies for a non-existent debt. The demands were made under threat of harm to the victims.

In this case, an investigation remained open since the end of October “when a man reported to specialized agents from the Kidnapping and Extortion group that he was the victim of extortion, the police said.”

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Source: diariobitcoin

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La entrada Spain dismantled a criminal network that operated with cryptocurrencies apareció primero en Bitfinance.

Through a statement from the European Commission this Wednesday, the organization confirmed that it will intensify the fight against crimes that are committed by hate messages disseminated over the Internet.

The immediacy of the content that users publish on social networks has caused unfortunate confrontations between populations, particularly due to differences in religion, race or sexual orientation.

“Europe is experiencing an alarming increase in hate speech and hate crimes, and evidence shows that the Jewish and Muslim communities have been particularly affected,” the EC statement said.

According to the organization, the budget allocated for the protection of places of worship will be increased, which includes an increase of 5 million euros (5.4 million dollars) that will allow action against the threats of growing anti-Semitism.

Online hate speech, as well as illegal threats, is another area where the rules will be intensified. To do this, they have “a code of conduct signed with Internet platforms, which will be finalized in the next three months, in addition to the stricter regulation for large online platforms that was introduced earlier this year in the Law of Digital Services.”

This document dates back to 2016, when the platforms Facebook, X (former Twitter), YouTube, as well as Microsoft committed to fighting against the promotion of hate on the Internet. Then TikTok, LinkedIn and Instagram joined.

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Source: finanzasdigital

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La entrada European Commission will intensify the fight against crimes due to hate messages on the Internet apareció primero en Bitfinance.

The New York jury handling the case of Sam Bankman-Fried, founder of the FTX cryptocurrency platform, found him guilty of the seven crimes of fraud and money laundering with which he was charged.

The trial against Bankman-Fried, 31, lasted almost a month. The New York jury of twelve members reached a guilty verdict for defrauding thousands of victims who lost their money at the hands of the platform.

The hearings in the process took three days. The founder of FTX had already pleaded not guilty to the charges against him. He even denied that he knew of the mismanagement of FTX and its sister company, Alameda Research.

However, he could not convince the jury that he never had bad intentions against the clients.

“Deputy prosecutor Danielle Sassoon subjected Bankman-Fried to harsh questioning, pointing out contradictions between her private and public statements and obtaining her confession, for example, that FTX gave a large line of privileged credit to Alameda, which used the funds of customers to play, as he stated in closing arguments.”

It is important to remember that Sam Bankman-Fried was charged with allegedly diverting almost $9 billion from FTX clients for other purposes. The die is cast and a sentence of almost one hundred years in prison awaits him, despite the fact that the sentence is pending.

The US Department of Justice considers the conviction a victory that marks a milestone in the crypto market. It is a victory that sends a clear message to the industry that fraud and harm to investors and customers will not be tolerated.

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Source: Pagina12

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La entrada FTX founder found guilty of fraud apareció primero en Bitfinance.