Germany’s recent Bitcoin sales, conducted mostly via OTC transactions, are defended as non-impactful to market prices, with ongoing Mt. Gox repayments presenting a larger potential risk.
ZeZhengLaws, policies, be careful that over-the-counter transactions may turn into money laundering crimes—Comment on Shanghai Changning Procuratorate's "Judicial Determination of Money Laundering Involving Virtual Currency" Golden Finance, a risk warning for friends who are doing U-business.
JinseFinanceSouth Korean police have arrested a gang of ten individuals involved in stealing money through fraudulent USDT over-the-counter (OTC) trading in the affluent Gangnam district of Seoul. The gang lured a victim to a street in Yeouido and promised discounted prices for USDT tokens. However, during a meeting arranged online, the gang attacked the victim's group while pretending to count cash, fleeing with the money without transferring any coins. Three suspects were arrested near the crime scene, while four others were apprehended in Anseong City. Two additional suspects fled to Busan but were later arrested. The alleged mastermind was captured in Cheongyang County. The gang had plans to target Busan, and they may have additional cryptocurrency-related targets. Police seized approximately $37,000 in cash and a gold necklace worth about $4,750. The suspects have been charged and handed over to the prosecution. This incident highlights the rising crime associated with cryptocurrency OTC trading in South Korea.
BerniceOn February 2, 2024, Hong Kong Secretary for Financial Services and the Treasury Hui Ching-yu said that the government believes that it is necessary to bring virtual currency over-the-counter exchanges (OTC) into supervision.
JinseFinanceOn February 8, 2024, the Hong Kong government launched a public consultation on the legislative proposal to establish a licensing system for virtual asset over-the-counter trading service (OTC) providers.
JinseFinanceAmong the typical cases recently jointly issued by the Supreme People's Procuratorate and the State Administration of Foreign Exchange to punish foreign exchange-related crimes, there are two cases involving OTC business in the currency circle. Below, the author will analyze the legal risks existing in the OTC business of the currency circle based on cases.
JinseFinanceHong Kong strengthens OTC crypto trading regulations amid rising interest from mainland Chinese investors. Balancing growth and risk mitigation in the evolving crypto landscape.
Huang BoNigeria's SEC approval signals a pivotal moment as NASD plc prepares to launch the N-DSP, offering new opportunities for both investors and the economic landscape. The strategic partnership with Blockstation and the focus on compliance and secure investments position this initiative as a transformative force in Nigeria's financial ecosystem.
SanyaIn recent days, there has been a lot of news circulating on the Internet about the illegal financial activities of buying and selling virtual currencies, making friends in the currency circle panic.
JinseFinanceDutch users need to provide the recipient's full name, the purpose of transfer and full residential address to move digital assets off the platform.
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