BitRss.com latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Two Australian Crypto Exchange Licenses Suspended Following Arrest

Two Australian Crypto Exchange Licenses Suspended Following Arrest
Two Australian cryptocurrency exchanges have been suspended by the Australian Transaction Reports and Analysis Centre (Austrac) following raids conducted by the Australian Federal Police in Melbourne. The raids resulted in the arrest of a 27-year-old who has been described as a “key member” of both exchanges.
Also Read: P2P Markets: Russian Localbitcoins Trade Outpaces Venezuela
Police Raids Result in Suspension of 2 Cryptocurrency Exchanges
The arrest of a 27-year-old in the Melbourne suburb of Bulleen has resulted in the suspension of two Australian cryptocurrency exchanges. The exchanges’ registration was immediately suspended after the man’s arrest, with Austrac national manager of regulatory operations Dr. Nathan Newman stating that the exchanges will not be permitted to resume operations until further notice.

Newman stated: “Our decision to suspend the registration of the two businesses means they can no longer lawfully operate.”
Arrested Individual Accused of Operating Darknet Drug Syndicate
The individual has been charged with possessing, importing, and trafficking approximately 30 kilograms of narcotics, including MDMA, cocaine, methamphetamine, and ketamine. The individual is alleged to have “played a key role in directing the operations of the criminal syndicate, which used various darknet sites, bitcoin accounts and legitimate business for the sourcing, payment, and distribution of the illicit drugs.”
Following a court order, more than 2 million Australian dollars (approximately USD $1.41 million) worth of assets have been seized by the Australian Federal Police following the man’s arrest, including several true estate properties, bank accounts, fiat currency, cryptocurrency, motor vehicles, and a motorbike. A video of the individual’s arrest shows the seizure of a BMW motorcycle by police.
The investigations leading to the raid have been linked to a seizure of over 33 kilograms of controlled substances that resulted in two arrests during 2017 .

Australian Federal Police detective superintendent Paul Hopkins stated: “Investigations such as this are inherently complex and the operational results achieved by the investigative team are a testament to good police work and strong inter-agency cooperation.”
What is your response to the suspension of the cryptocurrency exchanges’ licensing? Share your thoughts in the comments section below!

Images courtesy of Shutterstock

At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
The post Two Australian Crypto Exchange Licenses Suspended Following Arrest appeared first on Bitcoin News .

BitRss.com shares this Contents with License.

Thank you for Share!

   
Read the full Article

Read the full Article: Two Australian Crypto Exchange Licenses Suspended Following Arrest


Search Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, from up to 70 Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

24h Most Popular News