# Regulations News

The OneCoin project was founded in Sofia, the capital of Bulgaria, in 2014 and since then has been operating a multilevel cryptocurrency-based Ponzi scheme that generated $3.7 billion in sales revenue and more than $2.5 billion in profits according to U.S. authorities. OneFraud On March 6, 2019, the U.S. Federal...

Michael Patryn, the co-founder of the controversial QuadrigaCX, has already been convicted and spent 18 months in a U.S. Federal prison for identity theft linked to credit card and bank fraud. He "underwent a remarkable transformation," and changed his identity before entering the world of cryptocurrency.   Changed his Name...

Stefanos Papanastasiou, a 39-year-old cryptocurrency trader who claimed to have developed an algorithm that could result in immense profit through crypto trading, is currently facing a lawsuit filed by Savvas "Sam" Alexiadis, a property developer. Other investors are also set to file charges due to their loss of over $20...

According to a March 18, 2019, working paper published by former Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad, the large gap in crypto-regulations in the U.S. has led to continual frauds and weak investor protection in the budding cryptocurrency ecosystem. Lack of Regulations a Menace for the Industry Regulations...

Silvergate Bank has for the first time named a few of her clients in an SEC filing. The bank had remained supportive of crypto-related businesses at a time when other financial institutions turned their backs. Deposits Declined 8 Percent The crypto-supportive bank revealed in its March 18, 2019 filing to...