U.K. Cryptocurrency Exchange Cubits Shuts Down After $33M Scam

December 14th, 2018

Cubits, a London-based digital asset trading platform, has been forced into administration after fraudsters reportedly stole €29 million (about $32.5 million) from the exchange in February. The company claimed “it fell victim” to an elaborate scam orchestrated in collusion with three of its clients. Also read: Former Mt. Gox CEO Could Face 10 Years in…

Former Mt. Gox CEO Could Face 10 Years in Jail Over Embezzlement

December 12th, 2018

Japanese prosecutors are seeking a 10-year jail term for Mark Karpeles, the former CEO of Mt. Gox. The embattled Frenchman, who has been previously accused of diverting company money for prostitutes, business acquisitions and luxury items, is facing charges of transferring $3 million of client funds to his own account for investment in a software…

British Lawmaker Proposes Tax and Utility Bill Payments in Bitcoin

December 11th, 2018

U.K. lawmaker Eddie Hughes has proposed that taxpayers should have the option to pay council tax and utility bills in cryptocurrencies such as BTC. The 50-year-old conservative legislator for the Walsall North constituency said the move would place the country at the forefront of digital currency adoption in Europe. Also read: Gibraltar Exchange Obtains Insurance for…