News
Nexo alleges the company suffered reputational damage while its shareholders lost significant value due to the abandoned criminal investigation.
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Bulgaria News
The Republic of Bulgaria is a southeast European country with an area of 110,000 square kilometers and a population of over seven million people. Bulgaria has a free market with a dominant private sector. The main industries of the Bulgarian economy are electricity, food products, machinery, equipment, chemical products and refined petroleum. Bulgaria is a leading country of Balkan region in terms of IT and scientific development. Bulgarian Bitcoin regulations are not specific. The authorities of Bulgaria don’t consider Bitcoin to be legal tender and don’t regulate it. Bulgaria has a Bitcoin tax that is 10 percent of profit made with Bitcoin. Bulgarian Bitcoin mining is also unregulated. However, Bulgarian banks and authorities are not welcoming to cryptocurrencies. In late 2017, Bulgarian banks blocked the Bitcoin exchanges’ accounts that were opened in the country, and in May 2017, a series of raids performed by law enforcement of Bulgaria seized over 213,000 Bitcoin.
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Authorities said they found no evidence Kosta Kanchev, Antoni Trenchev, Trayan Nikolov and Kalin Metodiev committed money laundering, tax crimes, or computer fraud.
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Football meets finance: Bitcoin payments integration arrives at top-flight Bulgarian club, Botev Plovdiv FC.
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Evidence found that Australians were among the top countries targeted in a sophisticated cryptocurrency investment scam network, which has suspected kingpins in Israel.
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While the FTX saga continues to make headlines, last week brought a plethora of new troubles for crypto companies in the United States, Europe and Asia.
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A spokesperson for Bulgaria’s chief prosecutors has denied claims that the investigation was prompted by the company’s political donations.
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Following the Jan. 12 raid on its Sofia offices, Nexo described prosecutors’ actions as a “kick first, ask questions later” approach.
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Nexo has denied reports that the firm has experienced massive outflows amid office raids and an ongoing investigation against the firm.
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Investigators have alleged that Nexo is involved in money laundering and violating global financial sanctions against Russia.
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The government official added that he thought Bulgaria was unlikely to become a major hub for crypto miners, many of whom many are reportedly considering leaving Kazakhstan.
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More publicly traded firms added Bitcoin to their treasuries during the first four months of 2021 than during the entirety of last year. But will it continue?
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The operator of a Bulgarian crypto exchange has received a 10-year prison sentence for money laundering in connection with an Eastern European cybercrime syndicate.
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Law enforcement representing 16 different countries cooperated to arrest 20 members of a global crypto-powered money laundering cartel in just one of the cases.
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The owner of a Bulgarian crypto exchange has been convicted of providing money laundering services to a Eastern European cyber fraud syndicate.
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The Colibra app is providing a means for air travelers delayed for any reason to receive compensation in crypto.
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