The fraudster received a long prison sentence, but why does no one ask the question where is the 2 billion dollars? If the fraudster voluntarily returns the stolen money, then the period can be reduced to 100 years. In fact, there is no difference between 11,000 years and 100 years, if the fraudster did not spend a billion on the elixir of life. But most likely he was also deceived  My heart goes out to the parents of these siblings. It is assumed that they have lost three children because they will die in jail. I see this sentence as harsh and inhuman. I am not supporting criminal activities or defending them because what they did is inhuman and lives were impacted negatively due to this fraud. But how many politicians have been sentenced to this long jail term? Politicians who steal massively from the people receive lighter punishments. In my country, they are even given more appointments because they have the right political connections. I suspect that the main reason for this long jail term was because he fled to Albanian after the collapse of Thodex. If he had handed himself the police after the fall of his crypto form, he would have had a locus standing to make his claim that Thodex was not a scam. I understand your point mate, even here in our country wherein there are corrupt politicians, who just got a lighter sentence and then steal billions of dollars. But for me you can't compare the two. I mean in this case maybe Faruk really took all the money and leave the country and thinks that he is scoot free and live a lavish lifestyle outside of Turkey with the money of his customers. But we will see if there is reduce sentence here, it's too early to call and who knows that the next move of Faruk. What do you expect to be the next move? Some assets were frozen in banks when the exchange stopped making withdrawals of user funds. The fraudster had to spend some of the stolen money on bribes in other countries to ensure security. The remaining cryptocurrencies should be confiscated by the Turkish government. |
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What is Bitcoin according to US law?
The SEC did not call Bitcoin a security and, according to recent court decisions, Bitcoin is recognized as a commodity.
But it seems to me that I am being deceived. Bitcoin is not money, but why are FATF regulations the same as for money transfers applied to all cryptocurrency transactions over $1,000?
i think you may be confused. they don't want bitcoin to be treated as just one thing they want it to be treated as different things in different situations so they can control people in lots of different ways. still i don't think it's against the law to fly into an airport in the usa with more than $10,000 worth of bitcoin in your little android bitcoin app. but i could be wrong. you might need to declare it to customs or get locked up. I think that it is difficult to confuse any person with good knowledge, because he will not obey stupid laws and follow idiotic instructions. One more important moment at the g20 meeting https://cointelegraph.com/news/g20-moves-forward-international-crypto-framework"Leaders of the 20 biggest economies in the world — collectively known as G20 — are pushing for a speedy implementation of a cross-border framework for crypto assets. According to local reports in New Delhi — where the group members are attending a two-day summit — the framework will facilitate information exchange between countries beginning in 2027." |
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Поздравляю Cryptmuster с легендой и поздравляю witcher_sense с отметкой в 4000 меритов!
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how long until they get the idea to force usa based bitcoin miners to start paying royalties on the bitcoin they "extract"? i'd say not too long.  I don't see it happening ever! Mining gold and mining bitcoin are two different things. Government can impose taxes on Bitcoin mining but can't impose royalty on it. Also I believe Bitcoin is considered as a digital security in US. Have you ever seen royalty is imposed on security? But a government can do whatever they want. However, imposing royalty on Bitcoin mining doesn't make sense! What is Bitcoin according to US law? The SEC did not call Bitcoin a security and, according to recent court decisions, Bitcoin is recognized as a commodity. But it seems to me that I am being deceived. Bitcoin is not money, but why are FATF regulations the same as for money transfers applied to all cryptocurrency transactions over $1,000? Such standards are not yet everywhere, but this is only for now. If the government wants to evict miners from the country, it will find a way to raise taxes and come up with other problems. |
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Because unlike pure USD that trading pairs are based on at some exchanges, USDT can be withdrawn to a cryptocurrency wallet for safe-keeping, moved around to other exchanges, used in something like Uniswap or whatever.
if you like burning money you can move it around and pay $10 everytime you withdraw from an exchange average fee is about $11 usd right now it looks like https://withdrawalfees.com/coins/tetherThis gives it a distinct advantage over USD.
well uniswap and things have even more fees. the only people making money is the exchanges. most people probably losing money. not a zero sum game unfortunately... but we all understand that i guess. To be fair I've never tried to move USD from one exchange to another, or even withdraw it to a bank account (not since 2016 or so anyway), but USDT comes with the distinct advantages of being a cryptocurrency.
i don't even think its possible to move USD around from one crypto exchange to another they don't want to deal with fiat at all so yea, i understand usdt and things like it get around that issue. I don't think you can freely move your stablecoins between exchanges. If you transfer more than $10,000 to an exchange, then the exchange employees will most likely ask you for confirmation of the KYC procedure and many other documents about where you got these stablecoins. And then you won’t even be able to sue the exchange. After such blocking, you will understand that it is better to pay more commission and not use centralized exchanges. |
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Read this topic https://bitcointalk.org/index.php?topic=5465881.0If this is a custodial wallet, then the company will comply with all FATF regulations, so there will be no control over your funds. It is better to use any decentralized cryptocurrency wallet because it is safer. |
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I think that an additional tax of 4-8% will not kill the economy, as they write in the articles, and will not force people to buy resources in other countries, although if the United States buys more resources on foreign markets, then prices for Europe will be more expensive. In Russia, the mineral extraction tax has been in force since 2001 and this tax is much higher.
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The fraudster received a long prison sentence, but why does no one ask the question where is the 2 billion dollars? If the fraudster voluntarily returns the stolen money, then the period can be reduced to 100 years. In fact, there is no difference between 11,000 years and 100 years, if the fraudster did not spend a billion on the elixir of life. But most likely he was also deceived My heart goes out to the parents of these siblings. It is assumed that they have lost three children because they will die in jail. I see this sentence as harsh and inhuman. I am not supporting criminal activities or defending them because what they did is inhuman and lives were impacted negatively due to this fraud. But how many politicians have been sentenced to this long jail term? Politicians who steal massively from the people receive lighter punishments. In my country, they are even given more appointments because they have the right political connections. I suspect that the main reason for this long jail term was because he fled to Albanian after the collapse of Thodex. If he had handed himself the police after the fall of his crypto form, he would have had a locus standing to make his claim that Thodex was not a scam. From public information, this looks like an exit scam. There is no information about the cyber attack at all about who did it and how much money was stolen. Faruk Fatih Ozer also had connections with many famous politicians in Turkey and was able to hire lawyers and sue. https://databankfiles.worldbank.org/public/ddpext_download/GDP.pdfTurkey's GDP is $905 billion in 2022, but if you do not take into account the financial sector, in which nothing is produced, but only redistributed, then at least 35% of this value can be deducted from any country. And some fraudster stole several billion dollars. For this, one should be tried on charges of treason. |
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Hello all,
What is your opinion about the Telegram coin (Toncoin)? Does it have a bright future?
Any idea welcome.
Thank you.
To evaluate a coin and its future, you need to study tokenomics and understand where the majority of tokens are located and how they were distributed. There were a lot of scandals and frauds in the distribution process, and in this regard the project is difficult to evaluate. There are many similar projects in the Ethereum ecosystem. It remains to answer the question: who has 3.4 billion coins? |
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Apple secures rights to book on Sam Bankman-Fried for $5M: Report “Big Short” author Michael Lewis’ book on the former FTX CEO is scheduled to be released on Oct. 3, the day SBF’s criminal trial in New York begins. https://cointelegraph.com/news/apple-secures-rights-book-sam-bankman-fried"Multinational technology company Apple has reportedly paid $5 million for the rights to author Michael Lewis’ upcoming book on former FTX CEO Sam “SBF” Bankman-Fried following a bidding war. According to a Sept. 7 report from The Ankler, Apple secured the rights to the book Going Infinite: The Rise and Fall of a New Tycoon, which is set to be released on Oct. 3 — the start of SBF’s trial in New York. Lewis suggested an October publication date at the Bitcoin 2023 conference in Miami, aiming for the beginning of the former FTX CEO’s criminal trial" |
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https://www.cftc.gov/PressRoom/PressReleases/8774-23"Washington, D.C. — The Commodity Futures Trading Commission today continued its enforcement focus in the digital asset decentralized finance (DeFi) space, by issuing orders simultaneously filing and settling charges against Opyn, Inc., a Delaware-registered company based in California; ZeroEx, Inc., a Delaware company based in California; and Deridex, Inc., a Delaware company based in North Carolina." "Opyn, ZeroEx and Deridex were ordered to pay fines of $250,000, $200,000 and $100,000." https://www.reuters.com/technology/global-regulators-seek-crack-down-decentralised-finance-2023-09-07/Global regulators seek to crack down on decentralised finance
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FASB - Financial Accounting Standards Board of the United States. https://news.bloomberglaw.com/business-and-practice/long-awaited-bitcoin-accounting-rules-to-capture-rises-dips"Fair value accounting rules kick in starting 2025 Wrapped tokens excluded from final rules Crypto companies and other businesses with significant holdings of digital currencies will get long-awaited accounting rules to measure the value of the Bitcoin, Ethereum, and other crypto in their coffers, US accounting standard-setters unanimously voted Wednesday. Under new rules expected to be published by year end, companies that hold or invest in cryptocurrency will be required to report their holdings at fair value, a measurement that aims to capture the most up-to-date value of an asset—including rebounds in value after prices dip. While the new standard will inject volatility into the earnings of companies that are heavily invested in crypto, the ability to record recoveries will be an improvement over the current practice, companies and accountants have told the Financial Accounting Standards Board for months." |
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In Russia, when a policeman wants to see what is in your pockets or see what you are carrying in the trunk of your car, he must draw up a report and call witnesses, but instead he will tell you: “Why do you need these extra procedures, you are not a criminal?”
just tell them you are exercising your rights. But if we talk about taxes, then in Russia there is the concept of “withdrawal of money from a bank account without acceptance.” If the tax office believes that this money in a citizen’s account is a tax, then why send a letter? They can take the money from the bank account themselves.
yeah the IRS can freeze your bank account and take money out of it too. but they give people a chance to fix the matter first. And if you have been sent a letter with any demand, then you have the legal right to use legal assistance and write your objections to the tax authorities in another letter.
make sure you do it by their deadline they give you. Tax authorities make a lot of mistakes, but you don't have to condone their mistakes.
most of the mistakes are probably not in the taxpayers favor. when the irs makes a mistake, it's harder to get money back from them.... In Russia there is a different philosophy: only the guilty person pays.
An innocent person defends his rights, writes letters and complaints to supervisory authorities.
Do they get to bill the Russian tax authority for all the time they wasted to prove they were innocent? If you ever visit Russia, know that not everywhere you should talk about your rights. There are a lot of cameras in Moscow and St. Petersburg, so you can talk about your rights there, but I would not advise doing this in other places if you do not know the situation. I agree that the tax office can freeze a bank account, but it is impossible to take money without a court decision. In Russia, tax inspectors take advantage of the illiteracy of the population and convince them what is the best way to pay, but this is not always better. What is your deadline for responding to tax letters? In Russia, 10 days from the date of receipt, but if there are valid reasons (illness,..) then the deadlines are extended. But if you expect such letters, then you should be prepared for retaliatory actions. The tax office made mistakes when working with me. After the letter, the money was returned within 30-45 days, these periods are regulated by law. You can go to court, but the damage is also calculated according to the law. Small amounts make it unprofitable to go to court. |
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Perhaps projects or at least those who are thinking to established crypto businesses in Turkey will have to think twice about it, hhehe. Otherwise, they will really be in jail for a long time and maybe no chance to get out.
Yes, as what zasad@ said, it's $2 billion dollars that time, so that is huge amount of money maybe in Turkey and many have been victimized by this crypto exchange that's why the heaviest penalty that can be served for Faruk Fatih Özer has been handed down by the court.
The fraudster received a long prison sentence, but why does no one ask the question where is the 2 billion dollars? If the fraudster voluntarily returns the stolen money, then the period can be reduced to 100 years. In fact, there is no difference between 11,000 years and 100 years, if the fraudster did not spend a billion on the elixir of life. But most likely he was also deceived |
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For people to use banking applications, the country needs good internet. You probably have not been to Russia, but even in the western part to the Urals there are a lot of places where there is no Internet, and in Siberia in many places there is not even a mobile connection. This requires huge investments, so as a maximum CBDC can be launched in large cities at the beginning.
So how do they get around this problem? If they want to cover the entire vast Russian territory, they need to spend huge amounts of money to create a suitable infrastructure for using CBDC, and this may take many years. During this period, will there be two financial systems, one digital and the other monetary? Also, in those remote areas, people are not accustomed to using the Internet and mobile phones. How will the state be able to convert them to the digital system when they are not familiar with this type of technology? More than anything, before they delve into fullscale CDBC operations, they should focus more on buiding the technological infrastructure for internet service provision for those interiors without it and also a major case of sensitisation should be considered as many people are used to the regular financial system, mostly, the elderly folks who have spent their entire lives in the conventional financial system. Russia can achieve whatever it wants to achieve steming from their degree of influence and commtiments to their involvements. I don't consider these few observations much of an implementation problem for them. In Russia, the majority of the population lives in cities and small towns. The only difference is the population size and, accordingly, the name. In such places there are no problems with infrastructure and during these 2 years people will be trapped with various bonuses. I think this will be a major development priority for CDBC. It will not be possible to quickly add infrastructure to remote villages and settlements with less than 1,000 inhabitants, so I hope the cash will be available for a long time. |
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Giving them to an overseas government probably has a higher risk compared to your local government, especially if you don't have any legal means to take back your money.
I have not talked about that. We are talking about the fact that in UK and EU governments are going to ask cryptocurrency companies to collect KYC information and provide it to them. What I am saying is that there will be some governments that will not do that, as happens in many cases in the rest of the world. At no time have I talked about you having to provide the information to any government, on the contrary. For example, in the UK if you go to a Bitcoin ATM they will force you to identify yourself with documents to make any transaction but in other countries below certain limits you will be able to do so without providing any document. Therefore, the government will not receive any information from you. This is not the idea of the UK government, but the FATF norms, which must be observed in all countries that are members of it. The UK was the first, next year most of the crypto companies in Europe who want to operate legally will join these standards and there will no longer be such freedoms in other countries. The simplest option is to make exchanges of 300-500 dollars, so as not to attract unnecessary attention to such transactions. |
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Your tax office is mocking you:)
There is no doubt about that, but the law is like that at the moment, and when you are not in a position to change the law, you have to adapt in one way or another. ~snip~
I am sure that you also find a way out of the situation, but if the law is idiotic, then why is it needed?
In fact, there is a way and it's completely legal, and the law says that you can sell cryptocurrency in the amount of EUR 1000 per transaction without KYC, and there are dozens of physical branches where you can do it. Of course, all this makes sense for smaller amounts, while the question of the origin of the property can always be raised if your legal earnings do not match the value of the property. In other words, I can sell more than EUR 5000 worth of cryptocurrencies every day, completely legally without KYC, and buy, for example, a house after a month - the problem arises if someone reports me (which can be anonymous), and then I have the problem of proving where the money came from. I think that you will agree that buying a house is not a cheap purchase and data on such purchases is automatically transferred to the tax office for verification. If the price of the house does not correspond to your official income for the last 3-10 years, then the tax office will ask where you got the money. In Russia, in this case, defendants bring to the tax office several loan or gift agreements from close relatives. |
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thank you so much for the detailed information. Recently, My bank account was frozen by the bank, and bank employees haven't given me the proper resolution. When I asked them for the acknowledgment letter, they started saying - they were not allowed to give that to me.
I called the cybercrime customer care number and they provided me with the investigation officer's number but the investigation officer never picked up my phone, no response to my messages. I don't have much information and I've never been into something like this. I mean I felt so helpless until I found this thread. Thank you so much again for the help.
I live in Ludhiana, Punjab and The victim is from Nagpur as far as I know from customer care support. I don't know what needs to be done in that case. If you can help me with where to hire the lawyer, that would be really appreciated.
According to the law, money cannot be frozen forever, because each criminal case has its own time frame for investigation and transfer to court. Don’t rush to hire a lawyer, try to find the authorities that control the bank’s activities and ask for a free consultation there. Most likely, your account will be blocked until the case is closed, but you can influence this to speed up the closure of this case. |
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https://news.bitcoin.com/arkham-intelligence-identifies-grayscales-16-billion-onchain-bitcoin-holdings"Arkham уточнил, что Grayscale является вторым по величине держателем BTC , имея биткойны на сумму более 16 миллиардов долларов. Arkham отметил , что «активы Bitcoin Trust» компании Grayscale распределены по [более] 1750 различным адресам, на каждом из которых хранится не более 1000 BTC ». Фирма также предоставила ссылку для изучения кошельков биткойнов Grayscale и других криптоактивов на платформе Arkham." https://news.bitcoin.com/arkham-intelligence-reveals-grayscales-ethereum-holdings-across-500-addresses/"1 сентября Arkham Intelligence, агентство криптоаналитики и отслеживания данных, как сообщается, определило активы Grayscale в Ethereum ( ETH ) для своего Ethereum Trust. Аркхэм сообщает, что эфирный тайник Grayscale распределен по 500 различным адресам." ___ Помогите доработать мысль. ETF будет работать "скоро", а у крупных компаний миллиарды биткоинов, под которых они могут напечатать бумажки и торговаться на крупных биржах, собирая бабло. Первый вариант манипуляции, если у крупных команий биткоинов больше чем в отчетах. Цену биткоина поднимут до 33-40 тысяч, распродадут там ЕТФ бумаги, а потом уронят вних до 20, снова скупая свои етф. Я планирую что етф запустятся ближе или немного позже халвигга после небольшого пампа на рынке, чтобы хомяки на фондовых рынках затарились этф биткоином. Это мы хомяки можем купить BTC по 60К долларов и не продавать по 20К  а фонды так не могут. Их риск менедмент регламентирует выходить из актива при определенной просадке.
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Присоединяюсь к поздравлениям Goran_. Надеюсь встретим на форуме навый бычий рынок!
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