Brazilian Prison System Officials Caught in $22.4 Million Bitcoin Fraud

According to Brazilian news outlet Agência Brasil, authorities in Rio de Janeiro recently uncovered a money laundering scheme in which state officials misstate the budget spent on food for state-run prisons. Bitcoin was reportedly used to exchange some of the scheme’s proceeds, which totaled roughly $22.4 million. After the scheme was discovered, search warrants were The post Brazilian Prison System Officials Caught in $22.4 Million Bitcoin Fraud appeared first on CCN

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Bank of America Admits Cryptocurrencies Are a Threat to Its Business Model

The post Bank of America Admits Cryptocurrencies Are a Threat to Its Business Model appeared first on CCN Bank of America, one of the world’s largest financial institutions, admitted in an annual report that cryptocurrencies are a threat to its business model. The report, which was dated Feb. 22 and filed with the US Securities and Exchange Commission (SEC), listed a range of economic, geopolitical, and operational risks that the Charlotte, NC-based bank The post Bank of America Admits Cryptocurrencies Are a Threat to Its Business Model appeared first on…

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