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It’s Official: Tether Launches Yuan-Backed Stablecoin

  • Alex Dovbnya
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    Tether makes a bold move by officially launching its yuan-pegged stablecoin that might appear in the crosshairs of Chinese regulators      

It’s Official: Tether Launches Yuan-Backed Stablecoin

Stablecoin issuer Tether has officially announced the launch of the CNHt stablecoin, which is pegged to the offshore Chinese yuan. The new coin will only be available on the Ethereum Blockchain as an ERC20 token.

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Tether Whales Control 80 Percent of USDT Supply: Coin Metrics Report

Tether Whales Control 80 Percent of USDT Supply: Coin Metrics Report

As reported by U.Today, China’s financial regulators might be at odds with Tether’s yuan-pegged version. Moreover, there might not enough demand for CNHt.

Meanwhile, Tether CTO Paolo Ardoino celebrates the expansion of the controversial stablecoin.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Crypto Crime: 21-Year-Old Australian Woman Faces 53 Charges for Laundering Stolen Funds with Cryptocurrency

  • Alex Dovbnya
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    Jasmine Vella-Arpaci, who was part of the major identity fraud ring, faces up to 53 charges after stealing millions of dollars

Crypto Crime: 21-Year-Old Australian Woman Faces 53 Charges for Laundering Stolen Funds with Cryptocurrency
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On Sept. 17, Jasmine Vella-Arpaci, a 21-year-old woman from Australia, made her first court appearance after being accused of shipping millions of dollars with the help of crypto. The young mother has been charged with 53 counts of fraud and theft.

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"Crypto Wizard" Arrested for Taking Part in $16 Mln Cryptocurrency Scam

A multi-million identity fraud

According to the Australian Securities and Investments Commission (ASIC),.the group of criminals, whose members referred to themselves as “Team Awesome,” would purchase stolen sensitive information on the dark web to open fake bank accounts in Australia. The funds were stolen from superannuation accounts and share-trading accounts of the gang’s unsuspecting victims.

The money was then transferred money to their accomplice in Hong Kong to trade expensive jewelry before sending it back home via cryptocurrencies.

Cybersecurity threats such as data breaches and financial system attacks are a major concern for ASIC and we will continue to pursue not only cyber-related market and superannuation offending but also the need for institutions to maintain their obligations to ensure they have adequate cyber resilience, says ASIC deputy chair Daniel Crennan

The investigation into the major crime syndicate continues with further arrests expected.

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Canadian Police Shed Light on New Bitcoin ATM Scam

Canadian Police Shed Light on New Bitcoin ATM Scam

Crypto scams on the rise

As reported by U.Today, cryptocurrencies scams have grown by more than 200 percent in Australia in 2018 with victims losing about $6.1 mln.

In 2019, this number could be easily topped. Back in July, an elderly couple lost a whopping 900,000 to an elaborate crypto scam, thus wasting all their retirement savings.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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