Court Refuses to Drop Money Laundering Charge Against UBS, $5.8 Billion Fine Looms

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A French court has reportedly rejected a request by the largest Swiss bank to drop money laundering charge against it. UBS Group and a number of its executives are accused of tax fraud and money laundering. If found guilty, the bank could be fined up to 5 billion euros or $5.8 billion. Its executives could…

Singapore Hosts New Fiat-Crypto Exchange, Welcomes Crypto Bank Accounts

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It has been a busy week for Singapore as it relates to cryptocurrency. The city-state is set open the first fiat-crypto exchange in Southeast Asia, while the financial regulator has vowed to help crypto companies set up local bank accounts, according to media reports.  Also read: Salt to Offer Crypto-Backed Loans in 7 Global Markets,…

Deep Web Roundup: 20 Years for ‘Oxymonster,’ New Darknet Monitoring Tool

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Two stories stand out in our latest trawl of the deep web for news that filters through to the cryptosphere. One concerns the sentencing of Dream vendor “Oxymonster,” whose controversial prosecution on U.S. soil is part of a wider trend. We also take a look at Blocktag, a new tool for monitoring darknet sales. Also…

Crypto Hedge Fund Launches Are Soaring to Record Levels This Year

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Despite the bear market in cryptocurrencies, crypto hedge funds are expected to comprise 20% of all hedge fund launches this year, research indicates.