Wex Crypto Exchange Accused of Fraud by the British Police
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Wex crypto exchange has been accused of fraud by the British police.
On the arrest of a former head of Wex crypto exchange | Cryptocurrency.
Bitcoin’s long-sought “Blockchain Revolution” finally got a taste of life in the real world yesterday, as local police seized over 8,000 Bitcoins from a person who was caught trying to sell them on the Bitcoin peer-to-peer market. The amount is now considered to be the largest cryptocurrency seizure in U. The news spread rapidly across the internet, with users sharing photos of police arresting people and asking other users of similar coin seizure stories.
Local police in Brooklyn, New York, took the former head of the local WEX crypto exchange to a police lock-up.
The amount seized was the largest cryptocurrency seizure in U. history, according to local media. It represented approximately 5,000 bitcoins.
The arrest occurred in Brooklyn, not far from where famed bitcoin entrepreneur and creator of the decentralized peer-to-peer (dPoW) peer-to-peer currency, and co-founder of WEX, Arthur Hayes, lives. The latter has been in prison since his arrest in June 2017. Hayes is currently on probation, and if convicted, could face up to five years in prison on each charge.
A person from the media contacted Hayes, who was not there to comment at the time of the transaction but answered back immediately. The person was told of the arrest, and Hayes said, “Yes, I am aware of the arrest.
Two other individuals were also arrested in the police raid, but not the former head, who was released without charge.
“It’s outrageous to me that we have to take these people away from us,” said local lawyer John Rizzo, who represents Hayes. “They don’t take money off you and they don’t tell you how much they want, they don’t pay you. They don’t even want to pay you.
Vasiliev, former chief of Wex, has been arrested.
Vasiliev, former chief of Wex, has been arrested. Vasiliev was arrested on 2 November 2019, with the Russian Ministry of Internal Affairs and the SVR following immediately. He is the founder of the largest bitcoin exchange in Russia, according to the Financial Times. | Russian court bans Wex and Bitfinex. Article Full Text: The Russian court of the RTA banned Wex from the country for 7 months and Bitfinex for 7 months, the financial regulator said. The court also fined Bitfinex a total of 500,000 rubles ($13,000). | Moscow court inverts ruling on Wex ban. Article Full Text: The Russian court of the RTA has overturned the ban. The court ruled on Monday that Wex’s exchange activity will now be suspended. The court was not satisfied with Wex being able to continue operation in the country. | Russia bans Wex. Article Full Text: The Russian court of the RTA has banned Wex’s cryptocurrency exchange from the country for 7 months. The court also banned Bitfinex from the country and sentenced it to 2 years in prison. | Russian court bans Wex. Article Full Text: The Russian court of the RTA has banned Wex as a payment processor for 5 months and Bitfinex for 4 months, the Financial Times reports. The court has fined Bitfinex a total of 500,000 rubles ($13,000). | Bitcoin in Russia. Article Full Text: Bitcoin transactions are now only possible through Wex. | US cryptocurrency market cap. Article Full Text: Bitcoin trades on Wex surged by over 30% in the first week of January following the arrest of the founder of the largest bitcoin exchange in Russia. The price soared by 8% on its first day of trading. | Russian court bans Wex, Bitfinex due to “fraud and money laundering”. Article Full Text: The Russian court of the RTA banned Wex as a payment processor for 7 months and Bitfinex for 6 months, the regulator said. The court also fined Bitfinex a total of 500,000 rubles ($13,000). | Bitcoin price in Russia. Article Full Text: The price of Bitcoin has soared after the Russian court of the RTA banned Wex as a payment processor for 7 months.
Wex will be blacklisted from Vasiliev, Vinnik and Binance.
Recently the founder of the Wex project Sergey Kolesnikov left the Bitcoin Foundation. According to the sources from the Bitcoin Core development team he had been banned from the Bitcoin industry as well. There are two possible reasons for his departure. It could be that he feels uncomfortable working in the Bitcoin ecosystem and wants to leave. And it could be that Wex founder Sergey Kolesnikov had decided on another project for the time now.
Also, Sergey Kolesnikov is the first one from the Wex project to leave the bitcoin ecosystem due to the fact that Wex has very close ties with the cryptocurrency industry. Most of all, at this point of time there is very little information about the Wex project. Many people are speculating about the real reason of Sergey Kolesnikov’s departure from the Wex project. What is worth to mention here is that there are no rumors about his real reasons for leaving the Bitcoin ecosystem. It could be that he is on the verge of leaving the Wex community (and bitcoin ecosystem by the way). Also, many people suspect that Sergey Kolesnikov has decided to leave the blockchain industry for a better job opportunity.
However, what is worth to consider here are several things. We should consider that the Wex project itself is very important for the bitcoin ecosystem as well. But, just because there is the Wex project that has made some important breakthroughs in the blockchain world does not mean that Wex is on the verge of a big success. Let’s understand this.
We have to start with one of the most important facts about the Wex project. The question is how much power, if any, does the Wex project have?. As we already know, bitcoin and cryptocurrencies in general, have gained a lot of momentum recently. This momentum is mostly due to the efforts of the cryptocurrency developers themselves. Many people have decided to move to cryptocurrencies.
Indignation of Vasiliev against the new Russian crypto.
On Tuesday May 10th 2018, Russian businessman Vasil Vasiliev, the CEO of one of the largest crypto companies in Russia, met with Russian President Vladimir Putin for a rare bilateral meeting, without the traditional format for such meetings.
It is not entirely clear what exactly happened, but the two presidents spoke briefly and exchanged pleasantries for one or two minutes. However this particular meeting was one that the President Putin is normally very keen to have and Vasiliev, in his capacity as CEO, will not have missed it.
The meeting took place at the Kremlin and its surroundings in a very open and friendly atmosphere. This was not the usual Putin-Vasiliev encounter.
The bilateral meeting was, so far, the only meeting of such nature between a Russian leader and an entrepreneur.
Vasiliev, a very senior businessman, is a well known figure to Putin, and his experience in Russia is that he is respected among Putin’s senior advisors, including Sergey Ivanov and Sergei Ivanov’s son, Kirill. However, this was a meeting where the main topic was economics and investments.
There were other things that both leaders discussed, but one thing was missing that day: cryptocurrency. The discussion between the two presidents touched upon a few different topics, but none of these had anything to do with cryptocurrency.
Vasiliev was asked what was the question posed to him by Putin that day.
– No, we will not discuss the topic of cryptocurrency.
– I will not answer a question that you have put.
Vasiliev left the meeting after just a few minutes, but not before he made a very powerful statement in response to Putin’s question regarding his future plans for cryptocurrencies.
During the discussion, Putin also talked to Vasiliev about his business activities and told him that at some point he may consider joining the business of his father’s company.
Tips of the Day in Cryptocurrency
I know it’s a topic that’s often discussed, debated, and even argued among cryptocurrency aficionados, but Bitcoin ETFs are currently in the spotlight and I’m here to help.
Bitcoin ETF is a US-based exchange traded fund (ETF) that tracks trading in Bitcoin. The ETF will target investors with at least $5 million in Bitcoin holdings to be allocated to Bitcoin ETF.
We’ll be exploring the benefits of an ETF in this article, but for a solid introduction into Bitcoin ETF, see this link from the NY Department of Financial Services (NYDFS), which you can read at the link above.
Both Bitcoin and Ethereum were built using the same technology, smart contracts. However, Ethereum is in the more popular, more advanced stage of development while Bitcoin is currently in the early stage of development and may be more practical for mainstream adoption.
The Ethereum ecosystem is more mature and is growing every day. The Ethereum blockchain network is more mature and includes the features that we want at the time.
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