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CATEGORY: bulgaria


Jan 14, 2023 07:10

NEXO to Take Legal Action Against Bulgaria After Law Enforcement Raids Company: Report

NEXO, a crypto lending platform, plans to take legal action against Bulgaria over the actions of law enforcement against the company, according to a statement from the company’s management sent to the Bulgarian Telegraph Agency (BTA). According to the company’s statement: The compensations that Bulgaria will pay after the claims filed and won by Nexo […]

Jan 13, 2023 10:45

Crypto Lender Nexo Raided by Authorities in Bulgaria

Authorities in Bulgaria are probing crypto lender Nexo on the accusation of laundering money

Jan 12, 2023 11:10

Nexo offices in Bulgaria reportedly raided by police | Invezz

Crypto lender Nexo has reportedly been raided by police in Bulgaria as part of a large-scale international investigation. On Thursday, January 12, a local news outlet reported that Nexo’s offices in Sofia had been searched by prosecutors, criminal investigators and foreign agents. The outlet quoted a national television channel as linking the raid to action ... Read more

<p>The post Nexo offices in Bulgaria reportedly raided by police | Invezz first appeared on CCNC.</p>

Jan 12, 2023 05:05

Bulgaria Launches Probe of Crypto Lender Nexo, Raids Offices

<p class="MsoNormal">Local investigators in partnership with foreign agents raided the Bulgaria offices of the cryptocurrency lending firm, Nexo, on Thursday. Bulgarian business daily Dnevnik reports that a total of 15 offices are being checked with over 300 officials from various agencies working on the case.</p><p class="MsoNormal">Additionally, prosecutors have launched an international operation to investigate the company for allegedly committing financial crimes, failing with its anti-money laundering (AML) processes and allowing transactions that violate the international sanctions against Russia, local media report.</p><p class="MsoNormal">Bulgaria Accuses Nexo of Permitting Terrorism Financier</p><p class="MsoNormal"> on Thursday, Siika Mileva, Bulgaria's Prosecutor General, through a spokesperson alleged that one of the company's clients is a person linked to financial terrorism. In addition, she noted that the crypto firm has processed over €94 billion in the last five years. </p><p class="MsoNormal">In addition, Mileva alleged that the company, whose founders are Bulgarians, ran shell companies. The prosecutor further noted that witnesses on the case are being interviewed at Bulgaria's National Investigative Service.</p><p class="MsoNormal">Reaction on Twitter</p><p class="MsoNormal">However, in a lengthy Twitter post published on Thursday, Nexo accused regulators of adopting “the kick first, ask questions later approach." Additionally, the crypto lending firm noted that it has rejected “a lot of business” because it “never compromises” with its “very stringent” AML and know-your-customer policies.</p><p class="MsoNormal">“Despite being fully automated, Nexo has 30+ AML compliance officers who ensure that we retain a real-time picture of our clients, which includes adverse media publications, OFAC sanctions lists, and a source & flow of funds, etc.," Nexo wrote in the post.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">Over the years, we have turned down a lot of business because Nexo never makes compromises with regard to our very stringent anti-money laundering and know-your-customer policies. But we have always known that this is how you build a sustainable business. 1/</p>— Nexo (@Nexo) <a href="https://twitter.com/Nexo/status/1613477462243147776?ref_src=twsrc%5Etfw">January 12, 2023</a></blockquote> This article was written by Solomon Oladipupo at www.financemagnates.com.

Ep03- OneCoin – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast

Author: Eduardo Próspero
United Kingdom
Oct 20, 2022 05:10

Ep03- OneCoin – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast

Good news! Since OneCoin is back on the news and “The Missing Cryptoqueen” already released an 11th episode, proving that they’re back for real, we’re going to double down on our efforts. Starting today, we’ll summarize two episodes a week to catch up with the new developments in Dr. Ruja’s case. We hit the nail on the head on this one, and there’s nothing left to do but let the roulette roll and see where the OneCoin story takes us. Related Reading: Sam Bankman-Fried Eyes On Bidding For Celsius Assets In this episode, we learn that OneCoin’s internal slogan was “the greatest company ever” and Jamie Bartlett travels to Sofia, Bulgaria, to look at Dr. Ruja’s properties. This episode is free of mafia insinuations, it deals with the cultic aspects of OneCoin’s entrepreneurial culture instead. We’re also able to put a number on how big of a scam OneCoin really was. SPOILER ALERT: It was at least €4B big. Remember, you can download episodes directly from the BBC, or listen to “The Missing Cryptoqueen” through Apple, Spotify, or iVoox. About OneCoin And “The Missing Cryptoqueen’s” Episode Three The most exciting thing about “The Missing Cryptoqueen” is the sense of immediacy it conveys. It’s a living and breathing podcast. The story was happening all around Jamie Bartlett and the team. The OneCoin people react to “The Missing Cryptoqueen’s” creation and, through social media, attack the creators with everything they have. And the whole scene is part of the podcast. And this is just episode three. In the end, they even ask for the audience to call and tip them about Dr. Ruja’s whereabouts. This episode starts with Konstantin Ignatov, Dr. Ruja’s younger brother, personal assistant, and heir to the OneCoin crown. He was arrested by the FBI and charged with money laundering and fraud. The authorities had already declared OneCoin a fraud, even. Surprisingly, when Bartlett and the team visit the OneCoin headquarters, they realize that the company is still “open for business.” People are still buying OneCoin despite the fact that one of their leaders is on the run and the other was arrested. That leads us to the cult-like aspects of the operation. A faith-like belief justifies the disappearance of the leaders as a conspiracy to stop OneCoin. In the quote below, you will feel the silence while reading the description of the organization’s offices. You’ll feel the Dr. Ruja worship. It’s just one step away from religion and very near a cult.  Jamie Bartlett describes OneCoin as “less a cryptocurrency and more like a belief system.” An expert in that field corroborates the hypothesis. BTC price chart for 10/20/2022 on Bitstamp | Source: BTC/USD on TradingView.com The Devastation That They Caused At one point we, once again, listen to Dr. Ruja’s own voice saying the crypto scammers’ slogan. “In two years, no one will talk about bitcoin.” If you ever hear that, run. In the second episode, we figured out that OneCoin called the critics “haters.” In this one, we learn that the investors and employees are instructed to keep away from them Scientology-style. Another surprising fact is that the second term OneCoin uses the most to describe its critics is “bitcoiner.” Those pesky bitcoiners, always causing trouble. We learn about the scale of the devastation that Dr. Ruja caused by hearing about the OneCoin Victims Support Group. The victims are broken, they’ve lost everything and then some. We also learn about the scale of the scam by way of a report/ database that producer Georgia Catt got her hands on. From all over the world, the organization was getting €60M a week. From August 2014 to March 2017, OneCoin’s revenue was over €4B. Over €100M were from the UK alone. And that’s where the report stops, the organization was still making money left and right. Quotes From “The Missing Cryptoqueen ’s” Episode Three – “More Than Just A Coin” An anonymous witness describing the OneCoin offices:  “At its peak, it was about 50 people working in the Sofia office. Ruja’s office is on the 4th floor. You never saw her without the gypsy earrings, the gowns, the jewelry, everything. Even when she’s just working in the office. Inside the Sofia office, the crypto center is where members of the OneLife network are allowed to meet members of the Sofia staff who are important. If you are out of favor, they won’t let you in, or they’ll keep you sitting there the whole day, waiting.  It’s set up almost like a cathedral. You don’t speak out loud, you whisper to each other. It’s all set in dark tones, everything is gilded. There was a big cardboard cutout of Ruja. You see people touching it and doing that stupid OneCoin sign like it’s an icon. It’s gone now because it eventually fell apart because too many people were touching it. Dr. Ruja! Dr. Ruja! The biggest insult that you can give OneLife is to say: “that’s not Dr. Ruja’s vision.” Bitcoin-enthusiast Timothy Curry, describing the cult of personality behind Dr. Ruja: “There were many cultish things that the company did. The repetitive indoctrination. If you look at the top leaders, the way they dress, the way that they showed things off. Ceremonial things, almost like, especially on stage. Everything, from the musical introductions to Ruja, to the theatrics, they really did create a worship behind her.” OneCoin Material And Episode Credits Six years ago, while OneCoin conquered the world, NewsBTC quoted the infamous Roger Ver speaking on the case. Then known as a “bitcoin evangelist,” the controversial figure denounced OneCoin for what it is:  “In a recent interview, the owner of Bitcoin.com says he believes OneCoin is a fraud, and that investors should always be wary of new coins and read up before they put their money in things they don’t understand: “There is never a cryptocurrency without a wallet. This sounds like more evidence of its fraudulent nature. OneCoin isn’t traded on a single exchange anywhere in the world as far as I know.” OneCoin has been around for over two years, but questions surrounding its authenticity continue to plague the Internet.” Say what you will about Roger Ver, but the man was right on the money on this one. Related Reading: Cardano Price Misses Fireworks On Its Birthday, How Far Will ADA Fall? And finally, the episode’s credits: Presenter: Jamie Bartlett Producer: Georgia Catt Story consultant: Chris Berube Editor: Philip Sellars Original music and sound design: Phil Channell Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir Previous Companion Guides For BBC’s “The Missing Cryptoqueen” Podcast: Ep. 01 – https://www.newsbtc.com/news/bitcoin/ep01-dr-ruja-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Ep. 02 – https://www.newsbtc.com/news/bitcoin/ep02-btc-killer-companion-guide-for-bbcs-the-missing-cryptoqueen-podcast/ Featured Image: The Missing Cryptoqueen podcast logo from the BBC | Charts by TradingView

Mar 27, 2022 11:55

Luxury Jewellery Brand Tiffany & Co. Acquires Okapi NFTs For 115 ETH

American Luxury Jewellery Brand Tiffany & Co. announced its foray into the NFT space via a tweet shared on 26 March. There, the New York-based retailer mentioned that it has acquired Okapi NFT from Rocket Factory, an NFT series, marking its entry into the digital collectibles world. Data from OpenSea revealed Okapi NFTs were sold for […]

Feb 22, 2022 07:15

Bulgarian stock exchange enables crypto trading with 8 crypto ETNs

The Bulgarian Stock Exchange (BSE) has begun trading in cryptocurrency instruments based on and monitoring the values of Bitcoin and Ethereum. Investors seeking novel crypto products may now freely trade in eight crypto exchange-traded notes (ETNs), providing a viable alternative to standard cryptocurrencies for the first time in the nation. BSE joins prominent European exchanges […]

Jan 29, 2022 07:25

Bulgaria’s Seized 200K Bitcoins Now Valued at $7.4B Goes Missing

The mystery surrounding the fate of Bulgaria’s 200k bitcoins that were captured as part of a cybercrime investigation continued to baffle the global crypto community. For the record in May 2017, the Southeast European Law Enforcement Center [SELEC] revealed that the Bulgarian authorities had seized a total of 213,519 bitcoins in a crackdown on an […]

Jan 22, 2022 12:30

Bulgaria Exploring Crypto Payments Says Countries Finance Minister

Many miners are apparently contemplating leaving Kazakhstan. Digital money may not be adopted until at least 2025, ECB President. Assen

The post has appeared first on thenewscrypto.com

May 12, 2023 12:25

Crypto Lender Nexo Moves to Disband UK Subsidiaries

Crypto lending firm Nexo is making efforts to disband two of its subsidiaries in the United Kingdom. The units are Nexo Financial Services Limited and Nexo Clearing, according to a regulatory filing with the UK Companies House seen by Bloomberg.

However, Antoni Trenchev, Nexo Co-Founder, told the outlet that the firm is not planning to exit European country. Instead, the firm says it is conducting “some restructuring” and “rethinking” the way it delivers its services to clients.

Nexo Battles Prosecution in Bulgaria

The new development comes amidst Nexo’s legal battle in Bulgaria. In January, Bulgarian prosecutors launched a probe against Nexo over alleged anti-money laundering (AML) failure and violation of sanctions against Russia.

As part of the probe, Bulgaria’s local investigators in collaboration with foreign agents raided Nexo’s Bulgarian offices with a total of 15 offices checked. Prosecutors also alleged that one of Nexo’s clients is a person linked to financial terrorism.

Local media reported that Siika Mileva, Bulgaria’s Prosecutor General, through a spokesperson, alleged that Nexo Co-Founders, who are Bulgarians, ran shell companies. Mileva noted that Nexo processed over €94 billion in the last five years.

However, reacting to the news, Nexo in a lengthy Twitter post accused the prosecutors of adopting “the kick first, ask questions later approach." The firm noted that it had rejected a lot of business opportunities as it never compromises with its very stringent AML and know-your-customer policies.

“Despite being fully automated, Nexo has 30+ AML compliance officers who ensure that we retain a real-time picture of our clients, which includes adverse media publications, OFAC sanctions lists, and a source & flow of funds, etc.,” Nexo explained.

Over the years, we have turned down a lot of business because Nexo never makes compromises with regard to our very stringent anti-money laundering and know-your-customer policies. But we have always known that this is how you build a sustainable business. 1/

— Nexo (@Nexo) January 12, 2023

Nexo Settles with US Watchdogs

Meanwhile, in the United States, Nexo recently paid $45 million in penalty to the Securities and Exchange Commission (SEC) and other state regulators for offering and selling crypto which the SEC considers as unregistered securities. The federal securities regulator got $22.5 million while the remainder went to state financial watchdogs.

In addition, the crypto lender paid an extra $1.5 million to the State of New York for services it offered through a virtual currency trading platform called Nexo Exchange.

Nexo has reached a final landmark resolution with the U.S. Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA), consisting of all 50 U.S. States & 3 territories and the Attorney General of New York.??https://t.co/modjbPsOdV

— Nexo (@Nexo) January 19, 2023

Zenfinex, Trading 212 Executives; IG's Warning on TRY; read today's news nuggets.

This article was written by Solomon Oladipupo at www.financemagnates.com.

Feb 01, 2024 05:16

Navigating AI in Hospitality: Insights from Bulgarian Hoteliers


The paper titled "Automated decision-making: Hoteliers perceptions" provides an in-depth analysis of Bulgarian hoteliers' attitudes towards AI in decision-making, revealing a preference for AI in tasks not requiring emotional intelligence. It also uncovers that personal and property characteristics do not significantly influence their AI adoption preferences, indicating a widespread acceptance across the hotel industry. (Read More)

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