Focus falls on crypto's flaws as puzzlement over bitcoin's jump reigns

LONDON (Reuters) – Collective puzzlement has reigned among cryptocurrency analysts and traders since bitcoin’s dramatic jump on Tuesday, with the mysterious spike shedding harsh light on flaws in a market the mainstream considers too opaque, too volatile and too risky. Bitcoin soared nearly 20 percent in its best day since the height of its 2017 bubble, lifting smaller cryptocurrencies and […]

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U.S. calls 'OneCoin' huge pyramid scheme, charges leaders

NEW YORK (Reuters) – U.S. authorities on Friday announced criminal charges against the alleged leaders of an multibillion-dollar pyramid scheme involving the sale of a fraudulent cryptocurrency, OneCoin. Konstantin Ignatov, who runs OneCoin Ltd, and his older sister Ruja Ignatova, who co-founded OneCoin and is known as “Cryptoqueen,” were accused of swindling investors coveting big returns and low risk, in […]

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Cryptocurrency traders protest Indonesia's new futures rules

JAKARTA (Reuters) – Indonesian cryptocurrency traders are complaining that the government’s new rules on futures trading, which require high minimum capital for traders, will hinder development of the young but growing market. Use of cryptocurrencies as payment instrument is banned by Indonesia’s central bank, but trade in the blockchain-backed assets is allowed. Since October, Jakarta has allowed futures trading of […]

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Ontario securities regulator looking into digital platform Quadriga

TORONTO (Reuters) – Canada’s main securities regulator said on Friday that it was looking into Quadriga CX, the digital platform whose founder died in December, trapping millions of dollars in cryptocurrencies in its accounts. “Given the potential harm to Ontario investors, we are looking into this matter and have already been in contact with the monitor,” the Ontario Securities Commission […]

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Three Bulgarians arrested over cryptocurrency theft

SOFIA (Reuters) – Three Bulgarians were arrested and charged over the theft of cryptocurrencies worth about $5 million, the interior ministry and prosecutors’ office and said on Monday. Police seized cryptocurrencies worth about $3 million, as well as computers used by the suspects. They also found notebooks listing accounts of people, real and fictitious, used in the scam. The prosecutors […]

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